Accountability by Belgian State-owned Enterprises: An Assessment on the Basis of Public and Corporate Law Good Governance Principles and a Comparative Analysis With Germany and the United States KU Leuven
Achieving “good governance” for SOE’s, which are now broadly acknowledged as ‘hybrid’ organizations is more complex than for private companies. Viewed from the angle of the agency theory, SOEs are characterized by more complex principal-agent relationships and conflicts than private companies. The person acting as principal in the SOE is not the ‘ultimate’ principal, but is in turn accountable to ‘the people’, and that relationship is ...