ABSTRACT
In terms of the relevance of state-owned enterprises (SOEs) to society and the serious governance challenges facing them, corporate governance of SOEs is a crucial issue for scholars and practitioners. Corporate governance refers to the legal and factual regulatory framework for management and monitoring of an enterprise. To describe corporate governance of SOEs in an increasing number of countries, scholars and practitioners use the term “public corporate governance” (PCG). PCG can be defined as the legal and factual regulatory framework for control, supervision and management of public organizations with independent economic management. The term “public corporate governance” is more precise and it could help researchers to conceptualize and describe the field more accurately and in a differentiated manner. This chapter outlines the basic concepts of PCG, major PCG challenges, and the potential and diffusion of public corporate governance codes. It also shows the need for more empirical research and research perspectives for the PCG field.
