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Government-owned companies in Finland: pragmatic change and modernization

✍ Scribed by Pentti Meklin; Pertti Ahonen

Publisher: John Wiley and Sons
Year: 1998
Tongue: English
Weight: 97 KB
Volume: 18
Category: Article
ISSN: 0271-2075
DOI: 10.1002/(sici)1099-162x(199808)18:3<265::aid-pad16>3.0.co;2-x

No coin nor oath required. For personal study only.

✦ Synopsis

The last 10 years in Finland have witnessed signi®cant developments in the reform of government agencies, corporations and companies with the aim of streamlining the public sector and reducing the government's shareholding in both long-established and much more recently created companies. This article concentrates on the companies, which in some cases are governed not just by the Company Act but also by special Acts that recognize their importance to the `public interest'. The process of reform, covering matters of ownership, management, ®nancing and regulation, has been pragmatic and systematic. The government is increasingly concerned to act as a normal business owner in relation to those companies which it retains, and to structure their governance in accordance with the best practices of international private sector companies.

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