ABSTRACT
In the Philippine context, public enterprises are parts of public organizations which are classified as government-owned or controlled corporations (GOCCs). A government-owned or controlled corporation is a stock or nonstock corporation, whether performing governmental or proprietary functions, which is directly chartered by special law or, if organized under the general corporation law, which is owned or controlled by the government directly or indirectly through a parent corporation or subsidiary corporation, to the extent of at least a majority of its outstanding capital stock or of its outstanding voting capital stock (PD 2079, 1986).
