Government-owned corporation
Encyclopedia
A government-owned corporation, state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, or parastatal is a legal entity created by a government
to undertake commercial
activities on behalf of an owner government. Their legal status varies from being a part of government into stock companies with a state as a regular stockholder. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms can be used interchangeably. The defining characteristics are that they have a distinct legal form and they are established to operate in commercial affairs. While they may also have public policy objectives, GOCs should be differentiated from other forms of government agencies or state entities established to pursue purely non-financial objectives that have no need or goal of satisfying the shareholders with return on their investment through price increase or dividends.
, without implying any special interference. As an example, the Chinese Investment Corporation agreed in 2007 to acquire a 9.9% interest in the global investment bank Morgan Stanley
, but it is unlikely that this would qualify the latter as a government-owned corporation. Government-owned or state-run enterprises are often the result of corporatization
, a process in which government agencies and departments are re-organized as semi-autonomous corporate entities, sometimes with partial shares listed on stock exchanges.
The term government-linked company (GLC) is sometimes used to refer to corporate entities that may be private or public (listed on a stock exchange) where an existing government
owns a stake using a holding company
. There are two main definitions of GLCs are dependent on the proportion of the corporate entity a government owns. One definition purports that a company is classified as a GLC if a government owns an effective controlling interest (>50%), while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC.
A quasi-governmental organization, corporation, business, or agency (parastatal) or a "quasi-autonomous national government organisation" (Quango
) is an entity that is treated by national laws and regulations to be under the guidance of the government, but also separate and autonomous from the government. While the entity may receive some revenue from charging customers for its services, these organizations are often partially or majorly funded by the government. They are usually considered highly important to smooth running of society, and are sometimes propped up with cash infusions in times of crisis to help surmount situations that would bankrupt a normal privately owned business. They may also possess law-enforcement authority, usually related to their functions.
In most OPEC
countries, the governments own the oil companies operating on their soil. A notable example is the Saudi national oil company, Saudi Aramco
, which the Saudi government bought in 1988 and changed its name from Arabian American Oil Company to Saudi Arabian Oil Company. The Saudi government also owns and operates Saudi Arabian Airlines
, and owns 70% of SABIC
, as well as many other companies. They are, however, being privatized gradually.
An increasing number of corporations are taking additional steps to protect their reputation and reducing exposure by identifying government-owned companies in an effort to identify easily overlooked government officials. Dow Jones has allegedly identified over 100,000 government-owned or controlled corporations in its Anti-Corruption service. This number far exceeds earlier estimates by the OECD, and is therefore heavily disputed as experts in the field estimate that fewer than 100,000 of such entities are known publicly.
" in New Zealand, and Government Business Enterprise (GBE) in Australia. Examples of Crown corporations include the Canadian Broadcasting Corporation
and Air Canada
before the latter underwent privatization. Cabinet ministers (Ministers of the Crown) often control the shares in such public corporations.
At the level of local government, territorial or other authorities may set up government corporations such as "Local Authority Trading Enterprises" (LATEs). Many local authorities establish services such as water supply as separate corporations or as a business unit of the authority.
" and "crown entities
" in New Zealand
, and government business enterprise (GBE) in Australia.
In Australia, four prominent Government-Owned Corporations are:
These four corporations are a part of the Department of Broadband, Communications and the Digital Economy and currently report to Senator Stephen Conroy
.
Former government-owned corporations include Telstra
, established in the 1970s as Telecom Australia
. This company is Australia's leading telecommunications company, and was privatised in 1997 by former Prime Minister of Australia
, John Howard
. As of June 2010 Telstra owned a majority of the copper wire infrastructure in Australia (the rest owned by Optus
) and is pending sale to its former parent, the Australian Government for a non binding amount of $11 Billion AUD, as ducts in the copper wire tunnels are needed to install the Fibre Optic cable.
Local government
councils and similar authorities also set up government corporations, such as water supply
companies and "local-authority trading enterprises" (LATEs) (New Zealand), as separate corporations or business unit of the councils concerned.
, state-owned corporations often use the style Crown corporation
, indicating that an organization is established by law, owned by the sovereign, and overseen by parliament and the Cabinet. Examples of crown corporations include the Canadian Broadcasting Corporation
, Canada Post
, and ViaRail. Former crown corporations before their privatization include Air Canada
, St. Lawrence Seaway Authority, and Petro-Canada
. Ministers of the Crown
often control the shares
in such public corporations, while parliament both sets out the laws that create and bind Crown corporations and sets their annual budgets.
Crown Corporations also exist at the provincial level in Canada. Saskatchewan has maintained the largest number of crown corporations, including SaskEnergy
, SaskPower
, SaskTel
, SaskWater
, and Saskatchewan Government Insurance
. Crown corporations of British Columbia include BC Hydro
, BC Ferries
, and the British Columbia Lottery Corporation
.
Privatization, or the selling of crown corporations to private interests, is very common throughout Canada. Petro-Canada
, Canadian National Railway
, and Air Canada
are examples of former federal crown corporations that have been privatized. At the provincial level, privatized former crown corporations include Alberta Government Telephones
(which merged with privately owned BC Tel to form Telus
), BCRIC, Manitoba Telecom Services
, and Potash Corporation of Saskatchewan
which retained its name and has become the world's largest producer of potash.
there was a massive nationalization
throughout the 20th century, especially after World War II
to ensure Government control over natural monopolies
and to some extent industry
. Typical sectors included telecommunications, power
, petroleum
, railways
, airport
s, airline
s, public transport
, health care
, postal services
and sometimes bank
s. Many large industrial corporations were also nationalized or created as Government corporations, including among many British Steel
, Statoil
and Irish Sugar. Starting in the late 1970s and accelerating through the 1980s and 1990s many of these corporations were privatized
, though many still remain wholly or partially owned by the respective governments.
A state-run enterprise needs to be distinguished from an ordinary limited liability corporation owned by the state. For example, in Finland, state-run enterprises (liikelaitos) are governed by a separate act. Even though responsible for their own finances, they cannot be declared bankrupt; the state answers for the liabilities. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities. In contrast, the state also owns controlling interest in ordinary limited liability corporations. A state-run enterprise is technically not always a corporation, it might also be a separate state entity, or simply a governmental agency acting as an enterprise, perhaps having its own budget. Conversely, the state can directly fund unprofitable business, such as railway services to remote areas.
and some other post-Soviet states
, unitary enterprise
s are commercial organizations that have no ownership rights to the assets they use in their operations. This form is possible only for state and municipal enterprises, operating with state or municipal property, respectively. The owners of the property of a unitary enterprise have no responsibility for its operation and vice versa.
The assets of unitary enterprises belong to the Federal government, a Russian region, or a municipality. A unitary enterprise holds assets under the right of economic management (for both state and municipal unitary enterprises) or operative management (for state unitary enterprises only), and that such assets may not be distributed among the participants, nor otherwise divided. A unitary enterprise is independent in economic issues and obliged only to give its profits to the state. Unitary enterprises would have no right to set up subsidiaries, but, with the owner's consent, can open branches and representation offices.
An example of such an enterprise is Mashpriborintorg
.
By contrast, a state corporation is a non-profit organization
which manages its assets as described in its charter. State Corporations are not obliged to submit to public authorities documents accounting for activities (except for a number of documents submitted to the Russian government) and, as a rule, are subordinate not to the government, but to the Russian president, and act to accomplish some important goal. Control of the Government is implemented on the basis of annual corporation, annual report on the audit opinion of accounting and financial reporting (accounting), as well as the conclusion of the auditing commission on the results of verification of financial (accounting) statements and other corporation documents. Any other federal government departments, organs of state power of subjects of the Russian Federation, the local governments have no right to interfere in the activities of the State corporation.
, a government-owned corporation is termed as a public sector undertaking (PSU). This term is used to refer to companies in which the government
(either the federal Union Government
or the many state or territorial governments
, or both) own a majority (51 percent or more) of the company equity
. Some examples include:
, Japan Post
was reorganized into Japan Post Group
in 2007 as a material step of the postal privatization. It is currently wholly owned by the government, but is planned to be sold into private ownership. Japan Railways Group (JR), Nippon Telegraph and Telephone
(NTT) and Japan Tobacco
(JT) were formerly owned by the government.
were created and owned by the government. In the late 1980s, the government began to reform the state-owned enterprise, and during the 1990s and 2000s, many mid-sized and small sized state-owned enterprises were privatized and went public. There are a number of different corporate forms which result in a mixture of public and private capital. In PRC terminology, a state-owned enterprise refers to a particular corporate form, which is increasingly being replaced by the listed company
. State-owned enterprises are governed by both local governments and, in the central government, the national State-owned Assets Supervision and Administration Commission.
and of the Kuomintang
, Sun Yat-sen
, was heavily influenced by the economic ideas of Henry George
, who believed that the rents extracted from natural monopolies or the usage of land belonged to the public. Dr. Sun argued for Georgism
and emphasized the importance of a mixed economy, which he termed "The Principle of Minsheng" in his Three Principles of the People
.
"The railroads, public utilities, canals, and forests should be nationalized, and all income from the land and mines should be in the hands of the State. With this money in hand, the State can therefore finance the social welfare programs."
Kuomintang leader, and later President of the Republic of China on the mainland and Taiwan, Chiang Kai-shek
, crushed pro communist worker and peasant organizations, and the rich Shanghai capitalists at the same time. Chiang continued Dr. Sun Yixian's anti capitalist ideology, Kuomintang media openly attacked the capitalists and capitalism, demanding government controlled industry instead.
The Kuomintang Muslim Governor of Ningxia
, Ma Hongkui
promoted state owned monopoly companies. His government had a company, Fu Ning Company, which had a monopoly over commercial and industry in Ningxia.
Under the Kuomintang Muslim General Ma Bufang
in Qinghai
, Industries and projects such as educational, medical, agricultural, and sanitation schemes were controlled by the state.
The Chinese Muslim 36th Division (National Revolutionary Army)
governed southern Xinjiang from 1934 to 1937. The General Ma Hushan
was chief of the 36th Division. The Chinese Muslims operated state owned carpet factories.
Corporations such as CSBC Corporation, Taiwan
, CPC Corporation, Taiwan and Aerospace Industrial Development Corporation
are owned by the state in the Republic of China
.
is dominated by government-linked corporations that produce as much as 60% of the country's GDP. These government-linked companies are owned by a government holding agency, Temasek Holdings
. Notable Government-linked corporations include Singapore Airlines
, SingTel, ST Engineering, MediaCorp and Singapore Temasek Holdings.
"the Department of Public Enterprises is the shareholder representative of the South African Government with oversight responsibility for state-owned enterprises in key sectors, including: Defence, Energy, Forestry, ICT, Mining and Transport". The current (March 2011) Minister of Public Enterprises is Malusi Gigaba
.
The corporate entities that this department is responsible for are:
Other corporate entities not under the Department of Public Enterprises include the South African Post Office
and the South African Broadcasting Corporation
.
corporations created by the United States Congress
. The United States GSEs are private corporations owned by their stockholders, rather than government-owned corporations. Their primary function is to generate profits for their stockholders, but they are structured and regulated by the US government to enhance the availability and reduce the cost of credit
to targeted borrowing sectors. Congress created the first GSE in 1916 with the creation of the Farm Credit System
; it initiated GSEs in the home finance segment of the economy with the creation of the Federal Home Loan Banks
in 1932; and it targeted education
when it chartered
Sallie Mae in 1972 (although Congress allowed Sallie Mae to relinquish its government sponsorship and become a fully private institution via legislation in 1995). The residential mortgage borrowing
segment is by far the largest of the borrowing segments in which the GSEs operate. Together, the three mortgage finance GSEs (Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks
) have several trillion dollars of on-balance sheet
assets. The federal government possesses warrants
which, if exercised, would allow them to take a 79.9% ownership share in the companies. The federal government has not currently exercised these warrants.
government sponsored enterprises include:
The federal government chartered and owned corporations are a separate set of corporations enchartered and owned by the federal government, which operate to provide public services, but unlike the federal agencies (Environmental Protection Agency, Bureau of Indian Affairs), or the federal independent commissions (e.g. the Federal Communications Commission, the Nuclear Regulatory Commission, etc.), they have a separate legal personality from the federal government, providing the highest level of political independence. They sometimes receive federal budgetary appropriations, but some also have independent sources of revenue. These include:
The federal government acquired corporations are a separate set of corporations that were not chartered or created by the federal government, but the federal government has come into possession of and operates. These are corporations temporarily in possession of the Government as a result of a seizure of property of a debtor to the Government, such as a delinquent taxpayer. Usually these are awaiting auction, and most are too small to note.
There exists a second level of sovereign
government in the United States after the federal government, those of the several states
of which compose the United States. State governments are bodies sovereign, like the federal government, and other sovereigns; they have sovereign existence deriving from the consent of the sovereign people
of their territories who created them and wrote their state constitution; they are not bodies corporate, as they are not created by the acquis of the federal government and exist with or without that Government's consent. As sovereigns, they have the power to hold radical title to land, to exercise the four fundamental powers, taxation, eminent domain
, police power
, and escheat
, as well as numerous other powers, including the power to grant charters, and implicit in that power to charter is the power to charter corporations, which they do, extensively. The very vast majority of non-governmental corporations in the United States are chartered by the states of the US, and not the federal government, this includes most charitable corporations (though some charities of national repute are chartered by the federal government, and not by a state government), non-profit corporations, and for-profit corporations. States, as sovereigns, also have the power to charter corporations that they own, control, or are responsible for the regulation and finance of. These include municipal corporation
s and state chartered and owned corporations. Municipal corporations are public corporations that have devolved, democratic control over local matters within a geographic region; they are often styled villages, towns, townships, cities, or counties. Though these municipal corporations are often regulated and sometimes financed by the state government, and often can collect taxes, they are arms-length, non-sovereign, devolved public entities, and a State government which charters them is not legally responsible for their debts in the event of a municipal bankruptcy. State government chartered and owned corporations are numerous and provide public services. Examples include North Dakota Mill and Elevator
or South Dakota Public Broadcasting
. Generally speaking, a statute
passed by a state legislature specifically sets up a government-owned company in order to undertake a specific public purpose with public funds or public property. Lotteries in the United States
are also run by government corporations, such as the Georgia Lottery Corporation and many others.
There exists a third level of sovereign
government in the United States as well, the sovereignty of the Native American
tribal governments. Native American tribes are comprehended as ancient sovereigns, established by their sovereign people since time immemorial, and recognized as sovereign by the federal government of the United States as well as the several states, and as such, the Native American (and Alaska Native) tribal governments have rights appertaining to sovereigns, including the power to hold radical title to land, to exercise the four fundamental powers, taxation, eminent domain
, police power
, and escheat
, as well as other powers, for instance, the power to charter corporations and undertake public undertakings that might benefit their tribal citizens, Native Americans and Alaska Natives also being citizens of their respective US state, and also citizens of the United States. For example, a tribal council could establish a public service broadcaster along the lines of RTE
and partially fund it with a television licence
on tribal land and partially through advertising as a means of uniting the tribe and giving it a voice as well as a commercial venture.
The Alaska Natives
are particularly advanced in using their tribal sovereignty to incorporate corporations that are owned by and for the benefit of their tribal citizens and often compete in highly competitive economic sectors through the Alaska Native Regional Corporations
. The Native American tribes in the lower 48 states often use their sovereignty and their ability to charter to compete using regulatory easements; for instance, Native American tribal corporations often trade in goods that are highly taxed in surrounding states (such as tobacco), or engage in activities that surrounding states have (for reasons of public policy) forbidden, such as the operation of casino
s or gaming establishments. Most of these endeavors have proven very successful for Native American tribal sovereigns and their tribal corporations, bringing wealth into the hands of Native Americans.
had the first welfare state
of Latin America
under the presidency of José Batlle y Ordoñez
in 1904. Government-owned corporations monopolize services such as electricity (UTE
), land-line communications (Antel
) and water (OSE). Antel competes with private corporations in the cell-phone lines and international telephony markets.
In 1992, under the presidency of Luis Alberto Lacalle
, the government attempted to privatize all its companies, following the neoliberal Washington Consensus
. However, a referendum
won by 75% of the population kept the companies in the hands of the government. By the end of his term, president Lacalle alleged that he had achieved a successful modernisation of the companies, which had made them more efficient.
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
to undertake commercial
Commerce
While business refers to the value-creating activities of an organization for profit, commerce means the whole system of an economy that constitutes an environment for business. The system includes legal, economic, political, social, cultural, and technological systems that are in operation in any...
activities on behalf of an owner government. Their legal status varies from being a part of government into stock companies with a state as a regular stockholder. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE), although the two terms can be used interchangeably. The defining characteristics are that they have a distinct legal form and they are established to operate in commercial affairs. While they may also have public policy objectives, GOCs should be differentiated from other forms of government agencies or state entities established to pursue purely non-financial objectives that have no need or goal of satisfying the shareholders with return on their investment through price increase or dividends.
Definitions
GOCs can be fully owned or partially owned by Government. As a definitional issue, it is difficult to determine categorically what level of state ownership would qualify an entity to be considered as "state-owned", since governments can also own regular stockStock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
, without implying any special interference. As an example, the Chinese Investment Corporation agreed in 2007 to acquire a 9.9% interest in the global investment bank Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
, but it is unlikely that this would qualify the latter as a government-owned corporation. Government-owned or state-run enterprises are often the result of corporatization
Corporatization
Corporatization refers to the transformation of state assets or agencies into state-owned corporations in order to introduce corporate management techniques to their administration...
, a process in which government agencies and departments are re-organized as semi-autonomous corporate entities, sometimes with partial shares listed on stock exchanges.
The term government-linked company (GLC) is sometimes used to refer to corporate entities that may be private or public (listed on a stock exchange) where an existing government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
owns a stake using a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
. There are two main definitions of GLCs are dependent on the proportion of the corporate entity a government owns. One definition purports that a company is classified as a GLC if a government owns an effective controlling interest (>50%), while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC.
A quasi-governmental organization, corporation, business, or agency (parastatal) or a "quasi-autonomous national government organisation" (Quango
Quango
Quango or qango is an acronym used notably in the United Kingdom, Ireland and elsewhere to label an organisation to which government has devolved power...
) is an entity that is treated by national laws and regulations to be under the guidance of the government, but also separate and autonomous from the government. While the entity may receive some revenue from charging customers for its services, these organizations are often partially or majorly funded by the government. They are usually considered highly important to smooth running of society, and are sometimes propped up with cash infusions in times of crisis to help surmount situations that would bankrupt a normal privately owned business. They may also possess law-enforcement authority, usually related to their functions.
In most OPEC
OPEC
OPEC is an intergovernmental organization of twelve developing countries made up of Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. OPEC has maintained its headquarters in Vienna since 1965, and hosts regular meetings...
countries, the governments own the oil companies operating on their soil. A notable example is the Saudi national oil company, Saudi Aramco
Saudi Aramco
Saudi Aramco , officially the Saudi Arabian Oil Company, is the national oil company of Saudi Arabia.Saudi Aramco is the world's largest and most valuable privately-held company, with estimates of its value in 2011 to be $7 trillion USD.Saudi Aramco has both the largest proven crude oil reserves,...
, which the Saudi government bought in 1988 and changed its name from Arabian American Oil Company to Saudi Arabian Oil Company. The Saudi government also owns and operates Saudi Arabian Airlines
Saudi Arabian Airlines
Saudi Arabian Airlines is the flag carrier airline of Saudi Arabia, based in Jeddah. It operates domestic and international scheduled flights to over 90 destinations in the Middle East, Africa, Asia, Europe and North America...
, and owns 70% of SABIC
SABIC
SABIC is a diversified manufacturing company, active in chemicals and intermediates, industrial polymers, fertilizers and metals. It is the largest public company in Saudi Arabia as listed in Tadawul, but the Saudi government still owns 70% of its shares...
, as well as many other companies. They are, however, being privatized gradually.
An increasing number of corporations are taking additional steps to protect their reputation and reducing exposure by identifying government-owned companies in an effort to identify easily overlooked government officials. Dow Jones has allegedly identified over 100,000 government-owned or controlled corporations in its Anti-Corruption service. This number far exceeds earlier estimates by the OECD, and is therefore heavily disputed as experts in the field estimate that fewer than 100,000 of such entities are known publicly.
Commonwealth
In monarchical Commonwealth countries, particularly Australia, Canada and New Zealand, country-wide government corporations often use the style "Crown corporation." Equivalent terms include "State-owned enterprises" and "Crown entitiesCrown entities
A Crown entity is an organisation that forms part of New Zealand's state sector established under the Crown Entities Act 2004, a unique umbrella governance and accountability statute...
" in New Zealand, and Government Business Enterprise (GBE) in Australia. Examples of Crown corporations include the Canadian Broadcasting Corporation
Canadian Broadcasting Corporation
The Canadian Broadcasting Corporation, commonly known as CBC and officially as CBC/Radio-Canada, is a Canadian crown corporation that serves as the national public radio and television broadcaster...
and Air Canada
Air Canada
Air Canada is the flag carrier and largest airline of Canada. The airline, founded in 1936, provides scheduled and charter air transport for passengers and cargo to 178 destinations worldwide. It is the world's tenth largest passenger airline by number of destinations, and the airline is a...
before the latter underwent privatization. Cabinet ministers (Ministers of the Crown) often control the shares in such public corporations.
At the level of local government, territorial or other authorities may set up government corporations such as "Local Authority Trading Enterprises" (LATEs). Many local authorities establish services such as water supply as separate corporations or as a business unit of the authority.
Australia
In Australia and New Zealand, terms used for government-owned companies include "state-owned enterprisesState-Owned Enterprises of New Zealand
State-owned enterprises in New Zealand are registered companies listed under Schedules 1 and 2 of the State-Owned Enterprises Act 1986...
" and "crown entities
Crown entities
A Crown entity is an organisation that forms part of New Zealand's state sector established under the Crown Entities Act 2004, a unique umbrella governance and accountability statute...
" in New Zealand
New Zealand
New Zealand is an island country in the south-western Pacific Ocean comprising two main landmasses and numerous smaller islands. The country is situated some east of Australia across the Tasman Sea, and roughly south of the Pacific island nations of New Caledonia, Fiji, and Tonga...
, and government business enterprise (GBE) in Australia.
In Australia, four prominent Government-Owned Corporations are:
- Australian Broadcasting CorporationAustralian Broadcasting CorporationThe Australian Broadcasting Corporation, commonly referred to as "the ABC" , is Australia's national public broadcaster...
- fully owned and funded - Special Broadcasting ServiceSpecial Broadcasting ServiceThe Special Broadcasting Service is a hybrid-funded Australian public broadcasting radio and television network. The stated purpose of SBS is "to provide multilingual and multicultural radio and television services that inform, educate and entertain all Australians and, in doing so, reflect...
- fully owned and combines government funding and commercial funding - Australia PostAustralia PostAustralia Post is the trading name of the Australian Government-owned Australian Postal Corporation .-History:...
- Australian Postal Service - NBNCo - fully owned and responsible for the rollout of the National Broadband NetworkNational Broadband NetworkThe National Broadband Network is a national wholesale-only, open-access data network under development in Australia. Up to one gigabit per second connections are sold to retail service providers , who then sell Internet access and other services to consumers...
These four corporations are a part of the Department of Broadband, Communications and the Digital Economy and currently report to Senator Stephen Conroy
Stephen Conroy
Stephen Michael Conroy is an Australian politician and the current Minister for Broadband, Communications and the Digital Economy in the Gillard Ministry...
.
Former government-owned corporations include Telstra
Telstra
Telstra Corporation Limited is an Australian telecommunications and media company, building and operating telecommunications networks and marketing voice, mobile, internet access and pay television products and services....
, established in the 1970s as Telecom Australia
Telecom Australia
Telecom Australia was the trading name of the:* Australian Telecommunications Commission * Australian Telecommunications Corporation * Australian and Overseas Telecommunications Corporation...
. This company is Australia's leading telecommunications company, and was privatised in 1997 by former Prime Minister of Australia
Prime Minister of Australia
The Prime Minister of the Commonwealth of Australia is the highest minister of the Crown, leader of the Cabinet and Head of Her Majesty's Australian Government, holding office on commission from the Governor-General of Australia. The office of Prime Minister is, in practice, the most powerful...
, John Howard
John Howard
John Winston Howard AC, SSI, was the 25th Prime Minister of Australia, from 11 March 1996 to 3 December 2007. He was the second-longest serving Australian Prime Minister after Sir Robert Menzies....
. As of June 2010 Telstra owned a majority of the copper wire infrastructure in Australia (the rest owned by Optus
Optus
SingTel Optus Pty Limited is the second largest telecommunications company in Australia, and is a wholly owned subsidiary of Singapore Telecommunications...
) and is pending sale to its former parent, the Australian Government for a non binding amount of $11 Billion AUD, as ducts in the copper wire tunnels are needed to install the Fibre Optic cable.
Local government
Local government
Local government refers collectively to administrative authorities over areas that are smaller than a state.The term is used to contrast with offices at nation-state level, which are referred to as the central government, national government, or federal government...
councils and similar authorities also set up government corporations, such as water supply
Water supply
Water supply is the provision of water by public utilities, commercial organisations, community endeavours or by individuals, usually via a system of pumps and pipes...
companies and "local-authority trading enterprises" (LATEs) (New Zealand), as separate corporations or business unit of the councils concerned.
Canada
In CanadaCanada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, state-owned corporations often use the style Crown corporation
Crown corporations of Canada
Canadian Crown corporations are enterprises owned by the federal government of Canada , one of Canada's provincial governments or one of the territorial governments. Crown corporations have a long standing presence in the country and have been instrumental in the formation of the state...
, indicating that an organization is established by law, owned by the sovereign, and overseen by parliament and the Cabinet. Examples of crown corporations include the Canadian Broadcasting Corporation
Canadian Broadcasting Corporation
The Canadian Broadcasting Corporation, commonly known as CBC and officially as CBC/Radio-Canada, is a Canadian crown corporation that serves as the national public radio and television broadcaster...
, Canada Post
Canada Post
Canada Post Corporation, known more simply as Canada Post , is the Canadian crown corporation which functions as the country's primary postal operator...
, and ViaRail. Former crown corporations before their privatization include Air Canada
Air Canada
Air Canada is the flag carrier and largest airline of Canada. The airline, founded in 1936, provides scheduled and charter air transport for passengers and cargo to 178 destinations worldwide. It is the world's tenth largest passenger airline by number of destinations, and the airline is a...
, St. Lawrence Seaway Authority, and Petro-Canada
Petro-Canada
Petro-Canada was a crown corporation of Canada in the field of oil and natural gas. It was headquartered in the Petro-Canada Centre in Calgary, Alberta. In August, 2009, Petro-Canada merged with Suncor Energy, a deal in which Suncor investors received approximately 60 per cent ownership of the...
. Ministers of the Crown
Minister of the Crown
Minister of the Crown is the formal constitutional term used in the Commonwealth realms to describe a minister to the reigning sovereign. The term indicates that the minister serves at His/Her Majesty's pleasure, and advises the monarch, or viceroy, on how to exercise the Crown prerogatives...
often control the shares
Share (finance)
A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...
in such public corporations, while parliament both sets out the laws that create and bind Crown corporations and sets their annual budgets.
Crown Corporations also exist at the provincial level in Canada. Saskatchewan has maintained the largest number of crown corporations, including SaskEnergy
SaskEnergy
SaskEnergy is a Crown corporation of the Saskatchewan government which delivers natural gas to 92% of the province through a 67,000 kilometre distribution system to over 347,000 customers...
, SaskPower
SaskPower
Since 1929, SaskPower has been the principal supplier of electricity in Saskatchewan, Canada. Today, it serves more than 473,000 customers and manages $5.3 billion in assets...
, SaskTel
SaskTel
Saskatchewan Telecommunications is a provincial Crown Corporation operating under the authority of the Saskatchewan Telecommunications Act. It is the only remaining Crown Corporation in the Canadian telecommunications industry....
, SaskWater
SaskWater
SaskWater is a Crown corporation owned by the Government of Saskatchewan and supplies water, wastewater and related services to municipalities, industries and farms. In turn, municipalities supply water to their residents. SaskWater has operations in Moose Jaw, Watrous, Prince Albert, Saskatoon,...
, and Saskatchewan Government Insurance
Saskatchewan Government Insurance
Created in 1945, Saskatchewan Government Insurance is a provincial Crown corporation that has been developed over the years into two linked operations....
. Crown corporations of British Columbia include BC Hydro
BC Hydro
The BC Hydro and Power Authority is a Canadian electric utility in the province of British Columbia generally known simply as BC Hydro. It is the main electric distributor, serving 1.8 million customers in most areas, with the exception of the Kootenay region, where FortisBC, a subsidiary of Fortis...
, BC Ferries
BC Ferries
British Columbia Ferry Services Inc. or BC Ferries is a de facto Crown Corporation that provides all major passenger and vehicle ferry services for coastal and island communities in the Canadian province of British Columbia...
, and the British Columbia Lottery Corporation
British Columbia Lottery Corporation
The British Columbia Lottery Corporation is a Crown Corporation of the Province of British Columbia, Canada.It has provided government sanctioned lottery services in British Columbia since 1985...
.
Privatization, or the selling of crown corporations to private interests, is very common throughout Canada. Petro-Canada
Petro-Canada
Petro-Canada was a crown corporation of Canada in the field of oil and natural gas. It was headquartered in the Petro-Canada Centre in Calgary, Alberta. In August, 2009, Petro-Canada merged with Suncor Energy, a deal in which Suncor investors received approximately 60 per cent ownership of the...
, Canadian National Railway
Canadian National Railway
The Canadian National Railway Company is a Canadian Class I railway headquartered in Montreal, Quebec. CN's slogan is "North America's Railroad"....
, and Air Canada
Air Canada
Air Canada is the flag carrier and largest airline of Canada. The airline, founded in 1936, provides scheduled and charter air transport for passengers and cargo to 178 destinations worldwide. It is the world's tenth largest passenger airline by number of destinations, and the airline is a...
are examples of former federal crown corporations that have been privatized. At the provincial level, privatized former crown corporations include Alberta Government Telephones
Alberta Government Telephones
Alberta Government Telephones was formed by the Liberal government of Alexander Cameron Rutherford in 1906 following the acquisitions by the government of several independent telephone companies...
(which merged with privately owned BC Tel to form Telus
TELUS
Telus is a national telecommunications company in Canada that provides a wide range of telecommunications products and services including internet access, voice, entertainment, video, and satellite television. The company is based in Burnaby, British Columbia, part of Greater Vancouver...
), BCRIC, Manitoba Telecom Services
Manitoba Telecom Services
Manitoba Telecom Services Inc. , or MTS , formerly Manitoba Telephone System, is the primary telecommunications carrier in the Canadian province of Manitoba and the fourth largest telecommunications provider in Canada with 7000 employees...
, and Potash Corporation of Saskatchewan
Potash Corporation of Saskatchewan
The Potash Corporation of Saskatchewan Inc. , also referred to as PotashCorp, is a Canadian corporation based in Saskatoon, Saskatchewan. The company is the world's largest potash producer and the third largest producers of nitrogen and phosphate, three primary crop nutrients used to produce...
which retained its name and has become the world's largest producer of potash.
Europe
In Western EuropeWestern Europe
Western Europe is a loose term for the collection of countries in the western most region of the European continents, though this definition is context-dependent and carries cultural and political connotations. One definition describes Western Europe as a geographic entity—the region lying in the...
there was a massive nationalization
Nationalization
Nationalisation, also spelled nationalization, is the process of taking an industry or assets into government ownership by a national government or state. Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities, being...
throughout the 20th century, especially after World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
to ensure Government control over natural monopolies
Natural monopoly
A monopoly describes a situation where all sales in a market are undertaken by a single firm. A natural monopoly by contrast is a condition on the cost-technology of an industry whereby it is most efficient for production to be concentrated in a single form...
and to some extent industry
Industry
Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...
. Typical sectors included telecommunications, power
Electrical power industry
The electric power industry provides the production and delivery of electric energy, often known as power, or electricity, in sufficient quantities to areas that need electricity through a grid connection. The grid distributes electrical energy to customers...
, petroleum
Petroleum
Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...
, railways
Railway company
A railway company or railroad company is an entity that operates a railroad track and/or trains. Such a company can either be private or public...
, airport
Airport
An airport is a location where aircraft such as fixed-wing aircraft, helicopters, and blimps take off and land. Aircraft may be stored or maintained at an airport...
s, airline
Airline
An airline provides air transport services for traveling passengers and freight. Airlines lease or own their aircraft with which to supply these services and may form partnerships or alliances with other airlines for mutual benefit...
s, public transport
Public transport
Public transport is a shared passenger transportation service which is available for use by the general public, as distinct from modes such as taxicab, car pooling or hired buses which are not shared by strangers without private arrangement.Public transport modes include buses, trolleybuses, trams...
, health care
Health care
Health care is the diagnosis, treatment, and prevention of disease, illness, injury, and other physical and mental impairments in humans. Health care is delivered by practitioners in medicine, chiropractic, dentistry, nursing, pharmacy, allied health, and other care providers...
, postal services
Mail
Mail, or post, is a system for transporting letters and other tangible objects: written documents, typically enclosed in envelopes, and also small packages are delivered to destinations around the world. Anything sent through the postal system is called mail or post.In principle, a postal service...
and sometimes bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
s. Many large industrial corporations were also nationalized or created as Government corporations, including among many British Steel
British Steel
British Steel was a major British steel producer. It originated as a nationalised industry, the British Steel Corporation , formed in 1967. This was converted to a public limited company, British Steel PLC, and privatised in 1988. It was once a constituent of the FTSE 100 Index...
, Statoil
Statoil
Statoil ASA is a Norwegian petroleum company established in 1972. It merged with Norsk Hydro in 2007 and was known as StatoilHydro until 2009, when the name was changed back to Statoil ASA. The brand Statoil was retained as a chain of fuel stations owned by StatoilHydro...
and Irish Sugar. Starting in the late 1970s and accelerating through the 1980s and 1990s many of these corporations were privatized
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
, though many still remain wholly or partially owned by the respective governments.
A state-run enterprise needs to be distinguished from an ordinary limited liability corporation owned by the state. For example, in Finland, state-run enterprises (liikelaitos) are governed by a separate act. Even though responsible for their own finances, they cannot be declared bankrupt; the state answers for the liabilities. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities. In contrast, the state also owns controlling interest in ordinary limited liability corporations. A state-run enterprise is technically not always a corporation, it might also be a separate state entity, or simply a governmental agency acting as an enterprise, perhaps having its own budget. Conversely, the state can directly fund unprofitable business, such as railway services to remote areas.
Russia
In RussiaRussia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and some other post-Soviet states
Post-Soviet states
The post-Soviet states, also commonly known as the Former Soviet Union or former Soviet republics, are the 15 independent states that split off from the Union of Soviet Socialist Republics in its dissolution in December 1991...
, unitary enterprise
Unitary enterprise
A unitary enterprise is a government-owned corporation in Russia and some other post-Soviet states. Unitary enterprises are business entities that have no ownership rights to the assets they use in their operations....
s are commercial organizations that have no ownership rights to the assets they use in their operations. This form is possible only for state and municipal enterprises, operating with state or municipal property, respectively. The owners of the property of a unitary enterprise have no responsibility for its operation and vice versa.
The assets of unitary enterprises belong to the Federal government, a Russian region, or a municipality. A unitary enterprise holds assets under the right of economic management (for both state and municipal unitary enterprises) or operative management (for state unitary enterprises only), and that such assets may not be distributed among the participants, nor otherwise divided. A unitary enterprise is independent in economic issues and obliged only to give its profits to the state. Unitary enterprises would have no right to set up subsidiaries, but, with the owner's consent, can open branches and representation offices.
An example of such an enterprise is Mashpriborintorg
Mashpriborintorg
Federal State Unitary Enterprise Foreign Economic Association Mashpriborintorg also known as V/O Mashpriborintorg was a Soviet era export conglomerate. During the late 50s, 60s and 70s it exported millions of units of photographic and cinematic equipment to about 74 countries worldwide. According...
.
By contrast, a state corporation is a non-profit organization
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
which manages its assets as described in its charter. State Corporations are not obliged to submit to public authorities documents accounting for activities (except for a number of documents submitted to the Russian government) and, as a rule, are subordinate not to the government, but to the Russian president, and act to accomplish some important goal. Control of the Government is implemented on the basis of annual corporation, annual report on the audit opinion of accounting and financial reporting (accounting), as well as the conclusion of the auditing commission on the results of verification of financial (accounting) statements and other corporation documents. Any other federal government departments, organs of state power of subjects of the Russian Federation, the local governments have no right to interfere in the activities of the State corporation.
India
In IndiaIndia
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, a government-owned corporation is termed as a public sector undertaking (PSU). This term is used to refer to companies in which the government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
(either the federal Union Government
Government of India
The Government of India, officially known as the Union Government, and also known as the Central Government, was established by the Constitution of India, and is the governing authority of the union of 28 states and seven union territories, collectively called the Republic of India...
or the many state or territorial governments
States and territories of India
India is a federal union of states comprising twenty-eight states and seven union territories. The states and territories are further subdivided into districts and so on.-List of states and territories:...
, or both) own a majority (51 percent or more) of the company equity
Stock
The capital stock of a business entity represents the original capital paid into or invested in the business by its founders. It serves as a security for the creditors of a business since it cannot be withdrawn to the detriment of the creditors...
. Some examples include:
- Coal India LimitedCoal India LimitedCoal India Limited is an Indian state-controlled coal company headquartered in Kolkata, West Bengal, India and the world's largest coal miner with revenue exceeding 60,245 Crore . It was formerly owned entirely by the Union Government of India, under the administrative control of the Ministry of...
- Indian Oil Corporation Limited
- Oil and Natural Gas CorporationOil and Natural Gas CorporationThe Oil and Natural Gas Corporation Limited is an Indian state-owned oil and gas company headquartered in New Delhi, India. It is one of the largest Asia-based oil and gas exploration and production companies, and produces around 77% of India's total crude oil production and around 81% of...
- PowerGrid Corporation of India Ltd.
- Balmer LawrieBalmer LawrieBalmer Lawrie & Co. Ltd is a Government of India Enterprise which manufactures barrels and drums, greases and lubricants, performance chemicals, functional additives and marine freight containers.It also undertakes tea exports and trading, travel, tours, and cargo and engineering services such as...
- Steel Authority of India LimitedSteel Authority of India LimitedSteel Authority of India Limited from 116950 The company's current chairman is C.S Verma. With an annual production of 13.5 million metric tons, SAIL is the 14th largest steel producer in the world....
- Mazagon Dock Limited
- National Thermal Power CorporationNational Thermal Power CorporationNTPC Limited is the largest Indian state-owned energy service provider based in New Delhi, India. It is listed in Forbes Global 2000 for 2010 ranked it 341st in the world...
- Hindustan Aeronautics LimitedHindustan Aeronautics LimitedHindustan Aeronautics Limited based in Bangalore, India, is one of Asia's largest aerospace companies. Under the management of the Indian Ministry of Defence, this state-owned company is mainly involved in aerospace industry, which includes manufacturing and assembling aircraft, navigation and...
- Bharat Electronics LimitedBharat Electronics LimitedBharat Electronics Limited is a state-owned electronics company with about nine factories, and few regional offices in India. It is owned by the Indian Government & primarily manufactures advanced electronic products for the Indian Armed Forces.BEL is one of the eight PSUs under Ministry of...
- Hindustan Machine ToolsHindustan Machine ToolsHindustan Machine Tools was incorporated in 1953 by the Government of India as a machine tool manufacturing company.Over the years diversified into watches, tractors, printing machinery, metal forming presses, die casting & plastic processing machinery, CNC systems & bearings...
- Bharat Sanchar Nigam LimitedBharat Sanchar Nigam LimitedBharat Sanchar Nigam Limited is a state-owned telecommunications company headquartered in New Delhi, India. It is the largest provider of fixed telephony and fourth largest mobile telephony provider in India, and is also a provider of broadband services...
- MTNL
- State Bank of IndiaState Bank of IndiaThe State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
- Bank of IndiaBank of IndiaBank of India is a state-owned commercial bank with headquarters in Mumbai. Government-owned since nationalization in 1969, It is India's 4th largest bank, after State Bank of India, Punjab National Bank and Bank of Baroda. It has 3415 branches, including 29 branches outside India...
- Life Insurance Corporation of IndiaLife Insurance Corporation of IndiaThe Life Insurance Corporation of India is the largest state-owned life insurance company in India, and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of...
- DRDO
- ISRO
- TNEB
- Nuclear Power Corporation of IndiaNuclear Power Corporation of IndiaThe Nuclear Power Corporation of India Limited is a government-owned corporation of India based in Mumbai. One of the public sector undertakings, it is wholly owned by the Union Government and is responsible for the generation of nuclear power for electricity. NPCIL is administered by the...
Ltd - ELCOTElcotElcot is a hamlet in Berkshire, England, and part of the civil parish of Kintbury. It is the location of the four-star Elcot Park Hotel.The settlement lies near to the A4 road, and is located equidistant from both Hungerford and Newbury....
- IITIITIIT may refer to:*A number of institutes of technology, including:** Illinois Institute of Technology, a private Ph.D.-granting research university in Chicago, Illinois, USA** Indian Institutes of Technology, a group of higher education institutes in India...
- NITNit* The egg of a louse* Head lice * A trivial detail; the object of nitpicking* Nit , a unit of luminance equivalent to one candela per square metre...
- Bharat Petroleum Corporation Limited
- Air IndiaAir IndiaAir India is the flag carrier airline of India. It is part of the government of India owned Air India Limited . The airline operates a fleet of Airbus and Boeing aircraft serving Asia, Australia, Europe and North America. Its corporate office is located at the Air India Building at Nariman...
- TNSTCTNSTCThe Tamil Nadu State Transport Corporation is the public transport bus operator of Tamil Nadu, India. It operates buses along intra and inter state bus routes, as well as city routes.There are currently 6 divisions in TNSTC:*TNSTC Coimbatore...
- The Jute Corporation of India Limited
Indonesia
The government-owned corporation is easy to know by it names. Company names with suffix PERSERO means that the company is wholly/majority owned by the government. The government takes control the state corporation under one single ministry, the Ministry of State Enterprises act like the CEO of a holding company. Some of the government-owned corporations are;- Bank MandiriBank MandiriBank Mandiri , headquartered in Jakarta, is the largest bank in Indonesia in term of assets, loans and deposits. Total assets as of Q2 2010 were IDR 402.1 trillion . It also has Capital Adequacy Ratio of 23% , Return on Asset of 0.71 %, and Return on Equity of 7.38 %...
- PertaminaPertaminaPertamina is an Indonesian government-owned corporation which extracts and refines the country's oil and gas reserves. It was created in August 1968 by the merger of Pertamin and Permina...
- Garuda IndonesiaGaruda IndonesiaPT Garuda Indonesia Tbk , publicly known as Garuda Indonesia, is the flag carrier of Indonesia. It is named after the mystical giant bird Garuda of Hinduism and Buddhist mythology. It is headquartered at Soekarno-Hatta International Airport in Tangerang, near Jakarta, the capital city of Indonesia...
- Telkom Indonesia
- Perusahaan Listrik NegaraPerusahaan Listrik NegaraPLN is an Indonesian government-owned corporation which has a monopoly on electricity distribution in Indonesia.- History :...
Japan
In JapanJapan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
, Japan Post
Japan Post
was a government-owned corporation in Japan, that existed from 2003–2007, offering postal and package delivery services, banking services, and life insurance. It had over 400,000 employees and ran 24,700 post offices throughout Japan and was the nation's largest employer. One third of all Japanese...
was reorganized into Japan Post Group
Japan Post Holdings
is a large state-owned enterprise in Japan that deals with mail delivery and financial services. Its headquarters is located in Kasumigaseki, Chiyoda, Tokyo. There were plans to fully privatise the agency but these have been put on hold...
in 2007 as a material step of the postal privatization. It is currently wholly owned by the government, but is planned to be sold into private ownership. Japan Railways Group (JR), Nippon Telegraph and Telephone
Nippon Telegraph and Telephone
, commonly known as NTT, is a Japanese telecommunications company headquartered in Tokyo, Japan. Ranked the 31st in Fortune Global 500, NTT is the largest telecommunications company in Asia, and the second-largest in the world in terms of revenue....
(NTT) and Japan Tobacco
Japan Tobacco
, abbreviated JT, is a cigarette manufacturing company. It is part of the Nikkei 225 index. In 2009 the company was listed at number 312 on the Fortune 500 list. The company is headquartered in Toranomon, Minato, Tokyo. The international headquarters are in Geneva, Switzerland.-History:The company...
(JT) were formerly owned by the government.
People's Republic of China
After 1949, all business entities in ChinaPeople's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
were created and owned by the government. In the late 1980s, the government began to reform the state-owned enterprise, and during the 1990s and 2000s, many mid-sized and small sized state-owned enterprises were privatized and went public. There are a number of different corporate forms which result in a mixture of public and private capital. In PRC terminology, a state-owned enterprise refers to a particular corporate form, which is increasingly being replaced by the listed company
Public company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
. State-owned enterprises are governed by both local governments and, in the central government, the national State-owned Assets Supervision and Administration Commission.
Republic of China (Taiwan)
The founding father of the Republic of ChinaRepublic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
and of the Kuomintang
Kuomintang
The Kuomintang of China , sometimes romanized as Guomindang via the Pinyin transcription system or GMD for short, and translated as the Chinese Nationalist Party is a founding and ruling political party of the Republic of China . Its guiding ideology is the Three Principles of the People, espoused...
, Sun Yat-sen
Sun Yat-sen
Sun Yat-sen was a Chinese doctor, revolutionary and political leader. As the foremost pioneer of Nationalist China, Sun is frequently referred to as the "Father of the Nation" , a view agreed upon by both the People's Republic of China and the Republic of China...
, was heavily influenced by the economic ideas of Henry George
Henry George
Henry George was an American writer, politician and political economist, who was the most influential proponent of the land value tax, also known as the "single tax" on land...
, who believed that the rents extracted from natural monopolies or the usage of land belonged to the public. Dr. Sun argued for Georgism
Georgism
Georgism is an economic philosophy and ideology that holds that people own what they create, but that things found in nature, most importantly land, belong equally to all...
and emphasized the importance of a mixed economy, which he termed "The Principle of Minsheng" in his Three Principles of the People
Three Principles of the People
The Three Principles of the People, also translated as Three People's Principles, or collectively San-min Doctrine, is a political philosophy developed by Sun Yat-sen as part of a philosophy to make China a free, prosperous, and powerful nation...
.
"The railroads, public utilities, canals, and forests should be nationalized, and all income from the land and mines should be in the hands of the State. With this money in hand, the State can therefore finance the social welfare programs."
Kuomintang leader, and later President of the Republic of China on the mainland and Taiwan, Chiang Kai-shek
Chiang Kai-shek
Chiang Kai-shek was a political and military leader of 20th century China. He is known as Jiǎng Jièshí or Jiǎng Zhōngzhèng in Mandarin....
, crushed pro communist worker and peasant organizations, and the rich Shanghai capitalists at the same time. Chiang continued Dr. Sun Yixian's anti capitalist ideology, Kuomintang media openly attacked the capitalists and capitalism, demanding government controlled industry instead.
The Kuomintang Muslim Governor of Ningxia
Ningxia
Ningxia, formerly transliterated as Ningsia, is an autonomous region of the People's Republic of China. Located in Northwest China, on the Loess Plateau, the Yellow River flows through this vast area of land. The Great Wall of China runs along its northeastern boundary...
, Ma Hongkui
Ma Hongkui
Ma Hongkui , was a prominent warlord in China during the Republic of China era, ruling the northwestern province of Ningxia. His rank was Lieutenant-general. His courtesy name was Shao-yun .- Life :...
promoted state owned monopoly companies. His government had a company, Fu Ning Company, which had a monopoly over commercial and industry in Ningxia.
Under the Kuomintang Muslim General Ma Bufang
Ma Bufang
Ma Bufang was a prominent Muslim Ma clique warlord in China during the Republic of China era, ruling the northwestern province of Qinghai. His rank was Lieutenant-general...
in Qinghai
Qinghai
Qinghai ; Oirat Mongolian: ; ; Salar:) is a province of the People's Republic of China, named after Qinghai Lake...
, Industries and projects such as educational, medical, agricultural, and sanitation schemes were controlled by the state.
The Chinese Muslim 36th Division (National Revolutionary Army)
36th Division (National Revolutionary Army)
The 36th Division was a cavalry division in the National Revolutionary Army. It was created in 1932 by the Kuomintang for General Ma Zhongying, who was also its first commander. It was made almost entirely out of Hui Muslim troops, all of its officers were Hui, with a few thousand Uighurs forced...
governed southern Xinjiang from 1934 to 1937. The General Ma Hushan
Ma Hushan
Ma Hu-shan was the half-brother and follower of Ma Chung-ying, a Ma Clique warlord. He ruled over an area of southern Xinjiang, nicknamed Tunganistan by westerners from 1934 to 1937.-Tunganistan:...
was chief of the 36th Division. The Chinese Muslims operated state owned carpet factories.
Corporations such as CSBC Corporation, Taiwan
CSBC Corporation, Taiwan
CSBC Corporation, Taiwan , CSBC for short, formerly known as China Shipbuilding Corporation is a state-owned enterprise of the Republic of China...
, CPC Corporation, Taiwan and Aerospace Industrial Development Corporation
Aerospace Industrial Development Corporation
Aerospace Industrial Development Corporation is a state-owned aerospace company based in Taichung, Republic of China . It is known for developing the AIDC F-CK-1 Ching-kuo fighter.-History:...
are owned by the state in the Republic of China
Republic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
.
Singapore
The economy of SingaporeEconomy of Singapore
Singapore has a highly developed state capitalist mixed economy; the state owns stakes in firms that comprise perhaps 60% of the GDP through entities such as the sovereign wealth fund Temasek...
is dominated by government-linked corporations that produce as much as 60% of the country's GDP. These government-linked companies are owned by a government holding agency, Temasek Holdings
Temasek Holdings
Temasek Holdings is an investment company owned by the government of Singapore. With an international staff of 380 people, it manages a portfolio of about S$193 billion at end of March 2011, focused primarily in Asia...
. Notable Government-linked corporations include Singapore Airlines
Singapore Airlines
Singapore Airlines Limited is the flag carrier airline of Singapore. Singapore Airlines operates a hub at Changi Airport and has a strong presence in the Southeast Asia, East Asia, South Asia, and "Kangaroo Route" markets...
, SingTel, ST Engineering, MediaCorp and Singapore Temasek Holdings.
South Africa
In South AfricaEconomy of South Africa
The economy of South Africa is the largest in Africa, accounts for 24% of its Gross Domestic Product in terms of PPP, and is ranked as an upper-middle income economy by the World Bank, which makes the country one of only four countries in Africa represented in this category...
"the Department of Public Enterprises is the shareholder representative of the South African Government with oversight responsibility for state-owned enterprises in key sectors, including: Defence, Energy, Forestry, ICT, Mining and Transport". The current (March 2011) Minister of Public Enterprises is Malusi Gigaba
Malusi Gigaba
Knowledge Malusi Nkanyezi Gigaba is the Minister of Public Enterprises in the government of South Africa. First elected to the National Assembly of South Africa in 1999 as part of the African National Congress, he resigned in 2001 but was re-elected in 2004...
.
The corporate entities that this department is responsible for are:
- Alexkor - Mining sector (diamond mining)
- Broadband Infraco - ICT sector (national backbone and international connectivity)
- DenelDenelDenel Ltd is a South African state owned aerospace and defence technology conglomerate established in 1991. It was created when the manufacturing subsidiaries of Armscor were split off in order for Armscor to become the procurement agency for South African Defence Force , now known as the South...
- Aerospace and Defence sector (armaments manufacturer) - EskomEskomEskom is a South African electricity public utility, established in 1923 as the Electricity Supply Commission by the government of South Africa in terms of the Electricity Act . It was also known by its Afrikaans name Elektrisiteitsvoorsieningskommissie . The two acronyms were combined in 1986 and...
- Energy sector (national elecricity utility) - PBMR - Energy sector (development of Pebble Bed Modular ReactorPebble bed modular reactorThe Pebble Bed Modular Reactor is a particular design of pebble bed reactor under development by South African company PBMR Ltd since 1994...
nuclear energy technology) - South African AirwaysSouth African AirwaysSouth African Airways is the national flag carrier and largest airline of South Africa, with headquarters in Airways Park on the grounds of OR Tambo International Airport in Kempton Park, Ekurhuleni, Gauteng. The airline flies to 36 destinations worldwide from its hub at OR Tambo International...
- Transport sector (international airline) - SA Express - Transport sector (regional and feeder airline)
- SAFCOL - Forestry sector (manages forestry on state owned land)
- TransnetTransnetTransnet SOC Ltd is a large South African rail, port and pipeline company, headquartered in the Carlton Centre in Johannesburg. It was formed as a limited company on April 1, 1990. A majority of the company's stock is owned by the Department of Public Enterprises, or DPE, of the South African...
- Transport and related infrastructure sector (railways, harbours, oil/fuel pipelines and terminals) - Telkom SA - Telecommunications sector (national fixed line telephone network (PTSN))
Other corporate entities not under the Department of Public Enterprises include the South African Post Office
South African Post Office
South African Post Office or SAPO is the national postal service of South Africa and is owned by the South African government. It employs over 17,000 people and operates more than 2,400 postal outlets throughout the country.-History:...
and the South African Broadcasting Corporation
South African Broadcasting Corporation
The South African Broadcasting Corporation is the state-owned broadcaster in South Africa and provides 18 radio stations as well as 3 television broadcasts to the general public.-Early years:Radio broadcasting began in South Africa in 1923...
.
United States
The government-sponsored enterprises (GSEs) are a group of financial servicesFinancial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
corporations created by the United States Congress
United States Congress
The United States Congress is the bicameral legislature of the federal government of the United States, consisting of the Senate and the House of Representatives. The Congress meets in the United States Capitol in Washington, D.C....
. The United States GSEs are private corporations owned by their stockholders, rather than government-owned corporations. Their primary function is to generate profits for their stockholders, but they are structured and regulated by the US government to enhance the availability and reduce the cost of credit
Credit (finance)
Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...
to targeted borrowing sectors. Congress created the first GSE in 1916 with the creation of the Farm Credit System
Farm Credit System
The Farm Credit System is a federally chartered network of cooperatives and related service organizations that lends to agricultural producers, rural homeowners, farm-related businesses, and agricultural, aquatic, and public utility cooperatives in the United States...
; it initiated GSEs in the home finance segment of the economy with the creation of the Federal Home Loan Banks
Federal Home Loan Banks
The Federal Home Loan Banks are 12 U.S. government-sponsored banks that provide stable, on-demand, low-cost funding to American financial institutions for home mortgage loans, small business, rural, agricultural, and economic development lending...
in 1932; and it targeted education
Education
Education in its broadest, general sense is the means through which the aims and habits of a group of people lives on from one generation to the next. Generally, it occurs through any experience that has a formative effect on the way one thinks, feels, or acts...
when it chartered
Chartered
Charter or Chartered might refer to different things:* Charter, a legal document conferring rights or privileges* Chartered , a professional credential* Chartered Semiconductor Manufacturing, a manufacturing company...
Sallie Mae in 1972 (although Congress allowed Sallie Mae to relinquish its government sponsorship and become a fully private institution via legislation in 1995). The residential mortgage borrowing
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
segment is by far the largest of the borrowing segments in which the GSEs operate. Together, the three mortgage finance GSEs (Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks
Federal Home Loan Banks
The Federal Home Loan Banks are 12 U.S. government-sponsored banks that provide stable, on-demand, low-cost funding to American financial institutions for home mortgage loans, small business, rural, agricultural, and economic development lending...
) have several trillion dollars of on-balance sheet
Balance sheet
In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A...
assets. The federal government possesses warrants
Warrant (finance)
In finance, a warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed exercise price until the expiry date....
which, if exercised, would allow them to take a 79.9% ownership share in the companies. The federal government has not currently exercised these warrants.
government sponsored enterprises include:
- Fannie Mae
- Farmer Mac
- Federal Home Loan BanksFederal Home Loan BanksThe Federal Home Loan Banks are 12 U.S. government-sponsored banks that provide stable, on-demand, low-cost funding to American financial institutions for home mortgage loans, small business, rural, agricultural, and economic development lending...
- Freddie Mac
The federal government chartered and owned corporations are a separate set of corporations enchartered and owned by the federal government, which operate to provide public services, but unlike the federal agencies (Environmental Protection Agency, Bureau of Indian Affairs), or the federal independent commissions (e.g. the Federal Communications Commission, the Nuclear Regulatory Commission, etc.), they have a separate legal personality from the federal government, providing the highest level of political independence. They sometimes receive federal budgetary appropriations, but some also have independent sources of revenue. These include:
- Corporation for National and Community ServiceCorporation For National and Community ServiceThe Corporation for National and Community Service is a federal agency that engages more than five million Americans in service through Senior Corps, AmeriCorps, and Learn and Serve America, and other national service initiatives...
(AmericorpsAmeriCorpsAmeriCorps is a U.S. federal government program that was created under President Bill Clinton by the National and Community Service Trust Act of 1993 and later expanded by 50 percent under President George W. Bush...
) - Corporation for Public BroadcastingCorporation for Public BroadcastingThe Corporation for Public Broadcasting is a non-profit corporation created by an act of the United States Congress, funded by the United States’ federal government to promote public broadcasting...
- Federal Crop Insurance CorporationFederal Crop Insurance CorporationThe Federal Crop Insurance Corporation is a wholly owned Government corporation managed by the Risk Management Agency of the U.S. Department of Agriculture. FCIC manages the Federal crop insurance program which provides U.S...
- Federal Deposit Insurance CorporationFederal Deposit Insurance CorporationThe Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
- Legal Services CorporationLegal Services CorporationThe Legal Services Corporation is a private, non-profit corporation established by the United States Congress. It seeks to ensure equal access to justice under the law for all Americans by providing civil legal assistance to those who otherwise would be unable to afford it...
- Millennium Challenge CorporationMillennium Challenge CorporationThe Millennium Challenge Corporation is a bilateral United States foreign aid agency created by the George W. Bush administration in 2004, applying a new philosophy towards foreign aid.-Background and formation:...
- National Railroad Passenger Corporation (AmtrakAmtrakThe National Railroad Passenger Corporation, doing business as Amtrak , is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track". It is headquartered at Union...
) - Overseas Private Investment CorporationOverseas Private Investment CorporationThe Overseas Private Investment Corporation is an independent agency of the United States Government that mobilizes U.S. private sector investment in new and emerging markets overseas in order to support both the sustainable economic development of those markets and the creation of American jobs...
- Panama Canal Commission
- Pension Benefit Guaranty CorporationPension Benefit Guaranty CorporationThe Pension Benefit Guaranty Corporation is an independent agency of the United States government that was created by the Employee Retirement Income Security Act of 1974 to encourage the continuation and maintenance of voluntary private defined benefit pension plans, provide timely and...
- St. Lawrence Seaway Development Corporation
- Tennessee Valley AuthorityTennessee Valley AuthorityThe Tennessee Valley Authority is a federally owned corporation in the United States created by congressional charter in May 1933 to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley, a region particularly affected...
The federal government acquired corporations are a separate set of corporations that were not chartered or created by the federal government, but the federal government has come into possession of and operates. These are corporations temporarily in possession of the Government as a result of a seizure of property of a debtor to the Government, such as a delinquent taxpayer. Usually these are awaiting auction, and most are too small to note.
There exists a second level of sovereign
Sovereign
A sovereign is the supreme lawmaking authority within its jurisdiction.Sovereign may also refer to:*Monarch, the sovereign of a monarchy*Sovereign Bank, banking institution in the United States*Sovereign...
government in the United States after the federal government, those of the several states
U.S. state
A U.S. state is any one of the 50 federated states of the United States of America that share sovereignty with the federal government. Because of this shared sovereignty, an American is a citizen both of the federal entity and of his or her state of domicile. Four states use the official title of...
of which compose the United States. State governments are bodies sovereign, like the federal government, and other sovereigns; they have sovereign existence deriving from the consent of the sovereign people
Sovereign People
Sovereign People is a political party in Curaçao, the Netherlands Antilles. Pueblo Soberano has a progressive slant and is headed by controversial leader Helmin Wiels. At the legislative elections in the Netherlands Antilles of 27 January 2006, the party won no seats...
of their territories who created them and wrote their state constitution; they are not bodies corporate, as they are not created by the acquis of the federal government and exist with or without that Government's consent. As sovereigns, they have the power to hold radical title to land, to exercise the four fundamental powers, taxation, eminent domain
Eminent domain
Eminent domain , compulsory purchase , resumption/compulsory acquisition , or expropriation is an action of the state to seize a citizen's private property, expropriate property, or seize a citizen's rights in property with due monetary compensation, but without the owner's consent...
, police power
Police power
In United States constitutional law, police power is the capacity of the states to regulate behavior and enforce order within their territory for the betterment of the general welfare, morals, health, and safety of their inhabitants...
, and escheat
Escheat
Escheat is a common law doctrine which transfers the property of a person who dies without heirs to the crown or state. It serves to ensure that property is not left in limbo without recognised ownership...
, as well as numerous other powers, including the power to grant charters, and implicit in that power to charter is the power to charter corporations, which they do, extensively. The very vast majority of non-governmental corporations in the United States are chartered by the states of the US, and not the federal government, this includes most charitable corporations (though some charities of national repute are chartered by the federal government, and not by a state government), non-profit corporations, and for-profit corporations. States, as sovereigns, also have the power to charter corporations that they own, control, or are responsible for the regulation and finance of. These include municipal corporation
Municipal corporation
A municipal corporation is the legal term for a local governing body, including cities, counties, towns, townships, charter townships, villages, and boroughs. Municipal incorporation occurs when such municipalities become self-governing entities under the laws of the state or province in which...
s and state chartered and owned corporations. Municipal corporations are public corporations that have devolved, democratic control over local matters within a geographic region; they are often styled villages, towns, townships, cities, or counties. Though these municipal corporations are often regulated and sometimes financed by the state government, and often can collect taxes, they are arms-length, non-sovereign, devolved public entities, and a State government which charters them is not legally responsible for their debts in the event of a municipal bankruptcy. State government chartered and owned corporations are numerous and provide public services. Examples include North Dakota Mill and Elevator
North Dakota Mill and Elevator
The North Dakota Mill and Elevator is the largest flour mill in the United States. It is located in the city of Grand Forks, North Dakota. The mill is owned by the U.S. state of North Dakota and is the only state-owned milling facility in the United States....
or South Dakota Public Broadcasting
South Dakota Public Broadcasting
South Dakota Public Broadcasting, or SDPB for short, is a state network of Public Broadcasting Service Non-commercial educational Public television and NPR radio stations serving the state of South Dakota. The stations are operated by the South Dakota Bureau of Information and Telecommunication, a...
. Generally speaking, a statute
Statute
A statute is a formal written enactment of a legislative authority that governs a state, city, or county. Typically, statutes command or prohibit something, or declare policy. The word is often used to distinguish law made by legislative bodies from case law, decided by courts, and regulations...
passed by a state legislature specifically sets up a government-owned company in order to undertake a specific public purpose with public funds or public property. Lotteries in the United States
Lotteries in the United States
Lotteries in the United States are run by 46 jurisdictions; 43 states, plus the District of Columbia, Puerto Rico, and the US Virgin Islands.In the US, the lottery is subject to the laws of each jurisdiction; there is no national lottery.- History :...
are also run by government corporations, such as the Georgia Lottery Corporation and many others.
There exists a third level of sovereign
Sovereign
A sovereign is the supreme lawmaking authority within its jurisdiction.Sovereign may also refer to:*Monarch, the sovereign of a monarchy*Sovereign Bank, banking institution in the United States*Sovereign...
government in the United States as well, the sovereignty of the Native American
Native Americans in the United States
Native Americans in the United States are the indigenous peoples in North America within the boundaries of the present-day continental United States, parts of Alaska, and the island state of Hawaii. They are composed of numerous, distinct tribes, states, and ethnic groups, many of which survive as...
tribal governments. Native American tribes are comprehended as ancient sovereigns, established by their sovereign people since time immemorial, and recognized as sovereign by the federal government of the United States as well as the several states, and as such, the Native American (and Alaska Native) tribal governments have rights appertaining to sovereigns, including the power to hold radical title to land, to exercise the four fundamental powers, taxation, eminent domain
Eminent domain
Eminent domain , compulsory purchase , resumption/compulsory acquisition , or expropriation is an action of the state to seize a citizen's private property, expropriate property, or seize a citizen's rights in property with due monetary compensation, but without the owner's consent...
, police power
Police power
In United States constitutional law, police power is the capacity of the states to regulate behavior and enforce order within their territory for the betterment of the general welfare, morals, health, and safety of their inhabitants...
, and escheat
Escheat
Escheat is a common law doctrine which transfers the property of a person who dies without heirs to the crown or state. It serves to ensure that property is not left in limbo without recognised ownership...
, as well as other powers, for instance, the power to charter corporations and undertake public undertakings that might benefit their tribal citizens, Native Americans and Alaska Natives also being citizens of their respective US state, and also citizens of the United States. For example, a tribal council could establish a public service broadcaster along the lines of RTE
RTE
RTÉ is the abbreviation for Raidió Teilifís Éireann, the public broadcasting service of the Republic of Ireland.RTE may also refer to:* Recep Tayyip Erdoğan, 25th Prime Minister of Turkey...
and partially fund it with a television licence
Television licence
A television licence is an official licence required in many countries for the reception of television broadcasts...
on tribal land and partially through advertising as a means of uniting the tribe and giving it a voice as well as a commercial venture.
The Alaska Natives
Alaska Natives
Alaska Natives are the indigenous peoples of Alaska. They include: Aleut, Inuit, Tlingit, Haida, Tsimshian, Eyak, and a number of Northern Athabaskan cultures.-History:In 1912 the Alaska Native Brotherhood was founded...
are particularly advanced in using their tribal sovereignty to incorporate corporations that are owned by and for the benefit of their tribal citizens and often compete in highly competitive economic sectors through the Alaska Native Regional Corporations
Alaska Native Regional Corporations
The Alaska Native Regional Corporations were established in 1971 when the United States Congress passed the Alaska Native Claims Settlement Act which settled land and financial claims made by the Alaska Natives and provided for the establishment of 13 regional corporations to administer those...
. The Native American tribes in the lower 48 states often use their sovereignty and their ability to charter to compete using regulatory easements; for instance, Native American tribal corporations often trade in goods that are highly taxed in surrounding states (such as tobacco), or engage in activities that surrounding states have (for reasons of public policy) forbidden, such as the operation of casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
s or gaming establishments. Most of these endeavors have proven very successful for Native American tribal sovereigns and their tribal corporations, bringing wealth into the hands of Native Americans.
Uruguay
UruguayUruguay
Uruguay ,officially the Oriental Republic of Uruguay,sometimes the Eastern Republic of Uruguay; ) is a country in the southeastern part of South America. It is home to some 3.5 million people, of whom 1.8 million live in the capital Montevideo and its metropolitan area...
had the first welfare state
Welfare state
A welfare state is a "concept of government in which the state plays a key role in the protection and promotion of the economic and social well-being of its citizens. It is based on the principles of equality of opportunity, equitable distribution of wealth, and public responsibility for those...
of Latin America
Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
under the presidency of José Batlle y Ordoñez
José Batlle y Ordóñez
José Pablo Torcuato Batlle y Ordóñez was the president of Uruguay in 1899 and from 1903 until 1907 and for a further term from 1911 to 1915. He was the son of former president, Lorenzo Batlle y Grau. His children César, Rafael and Lorenzo Batlle Pacheco were actively engaged in politics...
in 1904. Government-owned corporations monopolize services such as electricity (UTE
UTE
UTE is Uruguay's government-owned power company. It was founded in 1912.In 1912, a law that created this public company as the unique distributor of electricity was approved. Then, in 1931, the monopoly of communications was also granted to this company until the founding of ANTEL in 1974....
), land-line communications (Antel
ANTEL
ANTEL is Uruguay's government-owned telecommunications company, founded in 1974. The company has a monopoly of landline telephony and data services in the country...
) and water (OSE). Antel competes with private corporations in the cell-phone lines and international telephony markets.
In 1992, under the presidency of Luis Alberto Lacalle
Luis Alberto Lacalle
Luis Alberto Lacalle de Herrera is a Uruguayan lawyer and politician who served as President of Uruguay from 1990 to 1995.-Background:His mother, María Hortensia de Herrera de Lacalle, was the daughter of the Blanco political leader Luis Alberto de Herrera, after whom Lacalle was named. Luis...
, the government attempted to privatize all its companies, following the neoliberal Washington Consensus
Washington Consensus
The term Washington Consensus was coined in 1989 by the economist John Williamson to describe a set of ten relatively specific economic policy prescriptions that he considered constituted the "standard" reform package promoted for crisis-wracked developing countries...
. However, a referendum
Referendum
A referendum is a direct vote in which an entire electorate is asked to either accept or reject a particular proposal. This may result in the adoption of a new constitution, a constitutional amendment, a law, the recall of an elected official or simply a specific government policy. It is a form of...
won by 75% of the population kept the companies in the hands of the government. By the end of his term, president Lacalle alleged that he had achieved a successful modernisation of the companies, which had made them more efficient.
Summary
In this list, government-owned corporations are classified on their legal status: silver color represents legal monopolies, where no competition is permitted; green represents a corporation that has private competitors; yellow means that although competition is legally permitted, there are no other corporations de facto, and uncolored refers to a free market, regulated or not.| Postal | Railways | Pharmacy | Gambling | Alcohol retail | Health care | Universities | Telephone | Television | Oil | Energy | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Brazil | yes (Correios Correios Empresa Brasileira de Correios e Telégrafos , also known as Correios, is one of the largest state-owned companies in latin america and is responsible for the national postal service of Brazil, with a high level of reliability in Brazil... ) |
mix (VALEC, CBTU) | mix (Hemobras) | yes (Caixa Econômica Federal Caixa Econômica Federal Caixa Econômica Federal , also referred to as Caixa or CEF, is a Brazilian bank. It is the largest government-owned financial institution in Latin America. It is the largest bank in Brazil and in Latin America by assets.... ) |
no | mix (SUS SUS SUS or Sus can refer to:SUS*Saybolt Universal Second, unit of viscosity*Science Undergraduate Society of McGill University in Montreal, Quebec*Scottish Universities Sport, a professional body for university sport... ) |
mix | mix (Telebras Telebrás Telebrás was the Brazilian state-owned monopoly telephone system. It was broken up in July 1998 into twelve separate companies, nicknamed the 'Baby Bras' companies, that were auctioned to private bidders... ) |
mix | Mix (Petrobras Petrobras Petróleo Brasileiro or Petrobras is a semi-public Brazilian multinational energy corporation headquartered in Rio de Janeiro, Brazil. It is the largest company in Latin America by market capitalization and revenue, and the largest company headquartered in the Southern Hemisphere by market... ) |
mix (Eletrobras Eletrobrás Eletrobras is a major Brazilian power utility. It's also Latin America's biggest power utility company, tenth largest in the world and is also the fourth largest clean energy company in the world. It is currently expanding its operations in the continent, as well as in Africa. The company's full... ) |
| Canada | yes (Canada Post Canada Post Canada Post Corporation, known more simply as Canada Post , is the Canadian crown corporation which functions as the country's primary postal operator... ) |
mix (Via Rail VIA Rail Via Rail Canada is an independent crown corporation offering intercity passenger rail services in Canada. It is headquartered near Montreal Central Station at 3 Place Ville-Marie in Montreal, Quebec.... ), passenger rail. Freight is private. |
no | varies by province | varies by province (LCBO, SAQ Société des alcools du Québec The Société des alcools du Québec , often abbreviated and referred to as SAQ, is a provincial Crown corporation in Quebec.-Organization:... , SLGA) |
mix | mix | varies by province (Sasktel SaskTel Saskatchewan Telecommunications is a provincial Crown Corporation operating under the authority of the Saskatchewan Telecommunications Act. It is the only remaining Crown Corporation in the Canadian telecommunications industry.... ) |
mix (CBC Canadian Broadcasting Corporation The Canadian Broadcasting Corporation, commonly known as CBC and officially as CBC/Radio-Canada, is a Canadian crown corporation that serves as the national public radio and television broadcaster... ) |
mix | varies by province (Hydro-Québec Hydro-Québec Hydro-Québec is a government-owned public utility established in 1944 by the Government of Quebec. Based in Montreal, the company is in charge of the generation, transmission and distribution of electricity across Quebec.... , BC Hydro BC Hydro The BC Hydro and Power Authority is a Canadian electric utility in the province of British Columbia generally known simply as BC Hydro. It is the main electric distributor, serving 1.8 million customers in most areas, with the exception of the Kootenay region, where FortisBC, a subsidiary of Fortis... , Hydro One Hydro One Hydro One Incorporated delivers electricity across the Canadian province of Ontario. It is a Corporation established under the Business Corporations Act with a single shareholder, the Government of Ontario.... , Manitoba Hydro Manitoba Hydro Manitoba Hydro is the electric power and natural gas utility in the province of Manitoba, Canada. Founded in 1961, it is a provincial Crown Corporation, governed by the Manitoba Hydro-Electric Board and the Manitoba Hydro Act. Today the company operates 15 interconnected generating stations. It has... , Nalcor, SaskPower SaskPower Since 1929, SaskPower has been the principal supplier of electricity in Saskatchewan, Canada. Today, it serves more than 473,000 customers and manages $5.3 billion in assets... ) |
| Finland | de facto (Itella) | de facto (VR VR Group VR or VR Group is a state-owned railway company in Finland. Formerly known as Suomen Valtion Rautatiet until 1922 and Valtionrautatiet / Statsjärnvägarna until 1995... ) |
no | yes (Veikkaus Veikkaus Veikkaus Oy is the Finnish national betting agency. It is entirely owned by the Finnish government and has a legal betting license on lotteries and sports betting in Finland. Veikkaus is managed by the Finnish Ministry of Education. Ministry of Education share money earned by Veikkaus with various... , RAY RAY RAY is a not-for-profit gambling company in Finland. Like Veikkaus, RAY is a gambling monopoly whose proceedings go to domestic charity such as pensioner care and gambling addiction treatment... , Fintoto) |
yes (Alko Alko Alko is the national alcoholic beverage retailing monopoly in Finland. It is the only store in the country which retails beer over 4.7% ABV, wine and spirits. Alcoholic beverages are also sold in licensed restaurants and bars but only for consumption on the premises... ) |
mix (municipal) | yes | no | mix (YLE) | de facto (Neste) | mix (Fortum Fortum Fortum Oyj is a Finnish publicly listed energy company, which focuses on the Nordic and Baltic countries, Poland and the north-west of Russia. After acquisition of Russian energy company TGC-10 in year 2008, Western Siberia has become an important operating area for Fortum. The head of the company... ) |
| France | yes (La Poste La Poste La Poste may refer to:* La Poste, the postal service of France* La Poste Suisse, the French name for Swiss Post* La Poste, the French name for De Post - La Poste - Die Post of Belgium* La Poste Tunisienne, the Tunisian postal service... ) |
yes (SNCF SNCF The SNCF , is France's national state-owned railway company. SNCF operates the country's national rail services, including the TGV, France's high-speed rail network... ) |
no | mix (Française Des Jeux Française des Jeux FDJ is a French cycling team, named for its title sponsor, the French national lottery. Sponsorship of the team began in 1997. The team was named FDJeux.com in 2003 and 2004, then renamed Française des Jeux, supposedly to avoid bad luck, until July 2010, when the name was simplified to its... ) |
no | mix | mix | mix (France Telecom France Télécom France Telecom S.A. is the main telecommunications company in France, the third-largest in Europe and one of the largest in the world. It currently employs about 180,000 people and has 192.7 million customers worldwide . In 2010 the group had revenue of €45.5 billion... ) |
mix (France Television) | no | mix (EDF EDF - Military :* Elmendorf Air Force Base, a United States Air Force Base in Alaska* Estonian Defence Forces, military of the Republic of Estonia* European Defence Force, an international military force by the European Council- Organizations :... ) |
| Greece | de facto (ELTA Hellenic Post The Hellenic Post S.A. is the state-owned provider of postal services in Greece. It succeeded the former government Postal Service, founded in 1828. ELTA provides a universal postal service to all parts of Greece and is a member of the Universal Postal Union... ) |
de facto (OSE, TrainOSE TrainOSE TrainOSE S.A. is a railway company in Greece which currently operates all passenger and freight trains on OSE lines. The company, formerly a subsidiary of the Hellenic Railways Organisation , has been from 2008 an independent state-owned company... ) |
no | mix (OPAP OPAP OPAP – Greek Organisation of Football Prognostics S.A. is a public company based in Athens, Greece that exclusively operates and manages numerical lottery and sports betting games in Greece.OPAP is Europe's biggest betting firm... ) |
no | mix (ESY Health care in Greece 250px|right|thumb|The logo of the Ministry for Health and Social Solidarity.Health care in Greece is provided by the state through a universal health care system funded mostly through national health insurance, although private health care is also an option. According to the 2011 budget, the Greek... ) |
yes | mix (OTE OTE Hellenic Telecommunications Organization S.A. , usually known by its Greek initials OTE, is the dominant telecommunications provider in Greece. Formerly a state-owned monopoly, OTE was part-privatized in 1998 and is now listed on the Athens and New York Stock Exchanges... ) |
mix (ERT) | mix (ELPE Hellenic Petroleum Hellenic Petroleum S.A. is the largest oil refining company in Greece and with its roots dating to 1958 with the establishment of the first oil refinery in Greece .... ) |
mix (DEI Public Power Corporation The Public Power Corporation S.A. is the biggest electric power company in Greece. It is controlled to an extent by the government, and it produces and supplies electricity to all the country.-History:PPC was founded by the Greek government in 1950... ) |
| India | yes (India Post) | yes (Indian Railways Indian Railways Indian Railways , abbreviated as IR , is a departmental undertaking of Government of India, which owns and operates most of India's rail transport. It is overseen by the Ministry of Railways of the Government of India.... ) |
yes (IDPL) | no | no | mix | mix | mix (BSNL) | mix (Doordarshan DoorDarshan Doordarshan is an Indian public service broadcaster, a division of Prasar Bharati. It is one of the largest broadcasting organizations in India in terms of the infrastructure of studios and transmitters. Recently, it has also started Digital Terrestrial Transmitters. On September 15, 2009,... ) |
mix (ONGC) | yes |
| Ireland | yes (An Post An Post An Post is the State-owned provider of postal services in the Republic of Ireland. An Post provides a universal postal service to all parts of the country as a member of the Universal Postal Union... ) |
yes (Iarnród Éireann Iarnród Éireann Iarnród Éireann is the national railway system operator of Ireland. Established on 2 February 1987, it is a subsidiary of Córas Iompair Éireann . It operates all internal intercity, commuter and freight railway services in the Republic of Ireland, and, jointly with Northern Ireland Railways, the... ) |
no | no | no | mix | mix | no | mix (RTE RTE RTÉ is the abbreviation for Raidió Teilifís Éireann, the public broadcasting service of the Republic of Ireland.RTE may also refer to:* Recep Tayyip Erdoğan, 25th Prime Minister of Turkey... , TG4 TG4 TG4 is a public service broadcaster for Irish language speakers. The channel has been on-air since 31 October 1996 in the Republic of Ireland and since April 2005 in Northern Ireland.... ) |
no | mix (ESB ESB - Organizations :*ESB Reutlingen, a business school of the Reutlingen University in Germany*ESB Customer Supply, the incumbent retail supplier of electricity in Ireland*ESB Group, a multinational energy group based in Ireland... ) |
| Italy | yes (Poste italiane Poste Italiane Poste italiane S.p.A. is the government-owned postal service of Italy, headquartered in Rome.Besides providing core postal services, Poste Italiane Group offers integrated products, as well as communication, logistics and financial services in Italy.... ) |
yes (FS Ferrovie dello Stato Ferrovie dello Stato is a government-owned holding which manage infrastructure and service on the Italian rail network. The subsidiary Trenitalia is the main rail operator in Italy.-Organization:Ferrovie dello Stato subsidiaries are:... ) |
no | no | no | mix (SSN) | mix | no | yes (RAI RAI RAI — Radiotelevisione italiana S.p.A. known until 1954 as Radio Audizioni Italiane, is the Italian state owned public service broadcaster controlled by the Ministry of Economic Development. Rai is the biggest television company in Italy... ) |
mix (Eni Eni Eni S.p.A. is an Italian multinational oil and gas company, present in 70 countries, and currently Italy's largest industrial company with a market capitalization of 87.7 billion euros , as of July 24, 2008... ) |
mix (Enel Enel Enel may refer to:*Enel SpA, an Italian electricity company*Enel , a fictional villain in the One Piece manga and anime series*Enel, meaning third in the fiction of J. R. R. Tolkien, cf. Awakening of the Elves... ) |
| Indonesia | yes (Pos Indonesia Pos Indonesia Pos Indonesia is the state-owned company responsible for providing postal service in Indonesia. It was established with the current structure in 1995 and now operates 11 regional divisions.-History:... ) |
yes (PT Kereta Api) | yes | no | no | yes (Asuransi Jiwasraya) | yes | yes (Telkom Indonesia) | yes (TVRI TVRI Televisi Republik Indonesia Televisi Republik Indonesia (TVRI) Televisi Republik Indonesia (TVRI) (formerly known as Televisi Indonesia (Indonesian Television in English) and Radio Indonesia (Indonesian Radio in English) is a state-owned television station, the oldest television station in... ) |
yes (Pertamina Pertamina Pertamina is an Indonesian government-owned corporation which extracts and refines the country's oil and gas reserves. It was created in August 1968 by the merger of Pertamin and Permina... ) |
yes (Perusahaan Listrik Negara Perusahaan Listrik Negara PLN is an Indonesian government-owned corporation which has a monopoly on electricity distribution in Indonesia.- History :... ) |
| Netherlands | no | yes (Nederlandse Spoorwegen Nederlandse Spoorwegen Nederlandse Spoorwegen , or NS, is the principal passenger railway operator in the Netherlands.Its trains operate over the tracks of the Dutch national railinfrastructure, operated by ProRail, which was split off from NS in 2003... ) |
no | yes (Holland Casino Holland Casino Holland Casino has the legal monopoly on gambling in the Netherlands, and has fourteen casinos located throughout the country. Profits from Holland Casino go directly to the Dutch treasury... ) |
no | mix | yes | no | mix (Netherlands Public Broadcasting) | no | no |
| New Zealand | yes (NZ Post) | yes (Kiwi Rail) | no | no | no | mix | yes | no | mix (TVNZ) | no | mix (Genesis Power, Meridian Energy Meridian Energy Meridian Energy Limited is a New Zealand state-owned electricity generator and retailer. The company generates the largest proportion of New Zealand's electricity, generating 32 percent of the country's electricity in the year ending 31 December 2009, and is the fourth-equal largest retailer, with... , Mighty River Power, Solid Energy Solid Energy Solid Energy is the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.The company was formed from the former government department State Coal Mines. It was then established as a state owned enterprise called Coal Corporation in 1987, and... , Transpower New Zealand Limited Transpower New Zealand Limited Transpower New Zealand Limited is the state-owned enterprise responsible for electric power transmission in New Zealand. Transpower performs two major functions in the New Zealand Electricity Market... )) |
| Philippines | yes (PhilPost Philippine Postal Corporation The Philippine Postal Corporation, , abbreviated as PhilPost, is a government-owned and controlled corporation responsible for providing postal services in the Philippines. The Philippine Postal Corporation has an estimated 13,800 employees and runs more than 2,000 post offices nationwide... ) |
yes (PNR Philippine National Railways The Philippine National Railways , or PNR, is a state-owned railway company in the Philippines, operating a single line of track on Luzon. As of 2010, it operates one commuter rail service in Metro Manila and a second in the Bicol Region. PNR restored its intercity service to the Bicol region in 2011... ) |
no | yes (PAGCOR) | no | yes | yes (U.P. University of the Philippines The ' is the national university of the Philippines. Founded in 1908 through Act No... ) |
no | yes (NBN National Broadcasting Network People's Television is the flagship government television network owned by the Philippine Government through People's Television Network, Inc. . Its head office, studios and transmitter are located at Broadcast Complex, Visayas Avenue, Diliman, Quezon City .-History:The country's government... ) |
mix (PNOC Philippine National Oil Company Philippines National Oil Company, owners of 40% stake in Petron, is a Philippines state owned company.On April 25 2008, Gloria Macapagal-Arroyo appointed former Negros Oriental 1st district congressman Jacinto "Jing" Paras as chairman of its subsidiary, the Philippine National Oil Company -... ) |
mix (NAPOCOR National Power Corporation The National Power Corporation , also known as the NPC or Napocor, is a state-owned company that serves as the largest provider and generator of electricity in the Philippines... ) |
| Sweden | de facto (Posten Posten (Sweden) Posten AB is the name of the Swedish postal service. The word "posten" means "the post" or "the mail" in Swedish.Posten was established in 1636 by Axel Oxenstierna under the name Kungliga Postverket , although its origins can be traced further back, and it was operated as a government agency into... ) |
de facto (SJ SJ AB SJ is a government-owned passenger train operator in Sweden. SJ was created in 2000, out of the public transport division of Statens Järnvägar, when the former government agency was divided into six separate government-owned limited companies.-Overview:SJ's operations fall broadly into subsidised... ) |
mix (Apoteket Apoteket Apoteket is the national pharmaceuticals retailing former monopoly in Sweden. Apoteket AB, formerly Apoteksbolaget, is a government owned enterprise reporting to the Swedish Ministry of Health and Social Affairs.... ) |
yes | yes (Systembolaget Systembolaget Systembolaget is a government owned chain of liquor stores in Sweden. It is the only retail store allowed to sell alcoholic beverages that contain more than 3.5% alcohol. Systembolaget also sells non-alcoholic beverages. To buy alcoholic beverages at Systembolaget one has to be 20 years of age or... ) |
mix | yes | mix (Telia TeliaSonera TeliaSonera AB is the dominant telephone company and mobile network operator in Sweden and Finland. The company has operations in other countries in Northern, Eastern Europe, Central Asia and Spain, with a total of 150 million mobile customers... ) |
mix (SVT Sveriges Television Sveriges Television AB , Sweden's Television, is a national television broadcaster based in Sweden, funded by a compulsory fee to be paid by all television owners... ) |
no | mix (Vattenfall Vattenfall Vattenfall is a Swedish power company. The name Vattenfall is Swedish for waterfall, and is an abbreviation of its original name, Royal Waterfall Board... ) |
| Turkey | yes (PTT PTT PTT may refer to:Chemistry and medicine:* Partial thromboplastin time, a performance indicator in medicine for coagulation status* Photothermal Therapy, A method of using light and photosensitizers for medical treatments... ) |
yes (TCDD Turkish State Railways The State Railways of the Turkish Republic or TCDD is the government owned, national railway carrier in the Republic of Turkey, headquartered in Ankara... ) |
no | no | no | mix | mix | no | mix (TRT TRT -Broadcasting:* Tamil Radio and Television, a former Tamil language satellite channel* Televisora Regional del Táchira, a Venezuelan regional television network based in the city of San Cristóbal in Táchira... ) |
mix (TPAO) | mix |
| United Kingdom | yes (Royal Mail Royal Mail Royal Mail is the government-owned postal service in the United Kingdom. Royal Mail Holdings plc owns Royal Mail Group Limited, which in turn operates the brands Royal Mail and Parcelforce Worldwide... ) |
mix (Northern Ireland Railways Northern Ireland Railways NI Railways, also known as Northern Ireland Railways and for a brief period of time, Ulster Transport Railways , is the railway operator in Northern Ireland... , East Coast East Coast (train operating company) East Coast is a British train operating company running high-speed passenger services on the East Coast Main Line between London, Yorkshire, the North East and Scotland... ) (Network Rail Network Rail Network Rail is the government-created owner and operator of most of the rail infrastructure in Great Britain .; it is not responsible for railway infrastructure in Northern Ireland... ) |
no | no | no | mix (NHS National Health Service The National Health Service is the shared name of three of the four publicly funded healthcare systems in the United Kingdom. They provide a comprehensive range of health services, the vast majority of which are free at the point of use to residents of the United Kingdom... ) |
mix | no | mix (BBC BBC The British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff... , Channel 4 Channel 4 Channel 4 is a British public-service television broadcaster which began working on 2 November 1982. Although largely commercially self-funded, it is ultimately publicly owned; originally a subsidiary of the Independent Broadcasting Authority , the station is now owned and operated by the Channel... , S4C S4C S4C , currently branded as S4/C, is a Welsh television channel broadcast from the capital, Cardiff. The first television channel to be aimed specifically at a Welsh-speaking audience, it is the fifth oldest British television channel .The channel - initially broadcast on... ) |
no | no |
| United States | yes (USPS, an agency Government agency A government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types... ) |
mix (Amtrak Amtrak The National Railroad Passenger Corporation, doing business as Amtrak , is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States. "Amtrak" is a portmanteau of the words "America" and "track". It is headquartered at Union... ), passenger rail. Freight is private. |
no | Mix (All State Lotteries Lotteries in the United States Lotteries in the United States are run by 46 jurisdictions; 43 states, plus the District of Columbia, Puerto Rico, and the US Virgin Islands.In the US, the lottery is subject to the laws of each jurisdiction; there is no national lottery.- History :... |
varies by state (ABC store states) | mix | mix (U.S. military service academies, public universities | no | mix (PBS) | no | mix (TVA Tennessee Valley Authority The Tennessee Valley Authority is a federally owned corporation in the United States created by congressional charter in May 1933 to provide navigation, flood control, electricity generation, fertilizer manufacturing, and economic development in the Tennessee Valley, a region particularly affected... ) |
See also
- Constitutional economicsConstitutional economicsConstitutional economics is a research program in economics and constitutionalism that has been described as extending beyond the definition of 'the economic analysis of constitutional law' in explaining the choice "of alternative sets of legal-institutional-constitutional rules that constrain the...
- Crown corporation
- Crown corporations of CanadaCrown corporations of CanadaCanadian Crown corporations are enterprises owned by the federal government of Canada , one of Canada's provincial governments or one of the territorial governments. Crown corporations have a long standing presence in the country and have been instrumental in the formation of the state...
- Federal agencyFederal agencyFederal agency may refer to:*United States federal agencies—see List of United States federal agencies*Federal agency -See also:*Government agency*Statutory corporation*Statutory Agency*Crown corporation*Government-owned corporation...
- Government agencyGovernment agencyA government or state agency is a permanent or semi-permanent organization in the machinery of government that is responsible for the oversight and administration of specific functions, such as an intelligence agency. There is a notable variety of agency types...
- NationalizationNationalizationNationalisation, also spelled nationalization, is the process of taking an industry or assets into government ownership by a national government or state. Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities, being...
- Non-departmental public bodyNon-departmental public bodyIn the United Kingdom, a non-departmental public body —often referred to as a quango—is a classification applied by the Cabinet Office, Treasury, Scottish Government and Northern Ireland Executive to certain types of public bodies...
- Political economyPolitical economyPolitical economy originally was the term for studying production, buying, and selling, and their relations with law, custom, and government, as well as with the distribution of national income and wealth, including through the budget process. Political economy originated in moral philosophy...
- PrivatizationPrivatizationPrivatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
- Public benefit corporationPublic benefit corporationA public-benefit corporation is a public corporation chartered by a state designed to perform some public benefit.A public authority is a type of public-benefit corporation that takes on a more bureaucratic role, such as the maintenance of public infrastructure, that often has broad powers to...
- Public bodies
- Public companyPublic companyThis is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
(public corporation) - Public ownership
- Public Sector Undertaking (Indian state enterprise)
- QuangoQuangoQuango or qango is an acronym used notably in the United Kingdom, Ireland and elsewhere to label an organisation to which government has devolved power...
- Regulatory agency
- Rule according to higher lawRule according to higher lawThe rule according to a higher law means that no written law may be enforced by the government unless it conforms with certain unwritten, universal principles of fairness, morality, and justice...
- Special-purpose districtSpecial-purpose districtSpecial-purpose districts or special district governments in the United States are independent governmental units that exist separately from, and with substantial administrative and fiscal independence from, general purpose local governments such as county, municipal, and township governments. As...
- State inside a state
- Stock exchangeStock exchangeA stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
- Stock marketStock marketA stock market or equity market is a public entity for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.The size of the world stock market was estimated at about $36.6 trillion...
- State ownershipState ownershipState ownership, also called public ownership, government ownership or state property, are property interests that are vested in the state, rather than an individual or communities....
- State-owned enterprises of New ZealandState-Owned Enterprises of New ZealandState-owned enterprises in New Zealand are registered companies listed under Schedules 1 and 2 of the State-Owned Enterprises Act 1986...
- StatsforetakStatsforetakStatsforetak or SF, meaning State Enterprise is a type of company in Norway. SFs are wholly owned by the Government of Norway, but it does not hold limited liability in the company...
(Norwegian state enterprise) - Statutory Agency
- Statutory corporationStatutory CorporationA statutory corporation or public body is a corporation created by statute. While artificial legal personality is almost always the result of statutory intervention, a statutory corporation does not include corporations owned by shareholders whose legal personality derives from being registered...
- Volkseigener BetriebVolkseigener BetriebThe Volkseigener Betrieb was the legal form of industrial enterprise in East Germany...
(East German state enterprise)
Further reading
- The Public Firm with Managerial Incentives by Elmer G. Wiens.