Corporate Governance in a state-owned company in Brazil

An empirical study

Abstract

As a frontier subject of studies in Public Administration, corporate governance in state-owned companies has aroused and created many debates and questioning about the State's performance as a shareholder. Public enterprises, although organized as basis for the foundations of administration that underpin private enterprise, are managed by a complex and diffused chain of agents (managers and executive directors) and the ministerial structure of the political base representing the state (owner). Based on empirical research carried out in 8 (eight) state-owned enterprises, this study presents the results of how the different actors (stakeholders) of Public Company of the Federal Government (employees, counselors, directors and president) see the practices of corporate management in their organizations. Thus, it was sought, with a focus on the view of the interested parts of society (stakeholders), to make a further contribution to understand this complex relationship between the Shareholder State represented by the government elected by the people and the managers of the public company.