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Hans Christiansen Senior Economist, Corporate Affairs Division, OECD hans.christiansen@oecd

Good Governance for State-Owned Enterprises: Recent Reform in OECD countries Presentation given at the Conference in Prague, 5 October 2011. Hans Christiansen Senior Economist, Corporate Affairs Division, OECD hans.christiansen@oecd.org. A 2011 Report to Stock-take Change in OECD Countries.

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Hans Christiansen Senior Economist, Corporate Affairs Division, OECD hans.christiansen@oecd

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  1. Good Governance for State-Owned Enterprises: Recent Reform in OECD countries Presentation given at the Conference in Prague, 5 October 2011 Hans Christiansen Senior Economist, Corporate Affairs Division, OECD hans.christiansen@oecd.org

  2. A 2011 Report to Stock-take Change in OECD Countries • Since 2005 20 member countries have reformed the legal and regulatory frameworks, or governance arrangements, of the SOE sectors. Four new countries have joined the Organisation. The changes were concentrated in: • The State acting as an owner • Transparency and accountability • The functioning of SOE Boards • … and additional changed followed from a changing SOE portfolio.

  3. The State’s Role as an Owner Developing and issuing an ownership policy. Six countries have published ownership policies (or general rules or guidance). Clearly identify the exercise of ownership rights. Simplifications and reassignments in nine countries. The trend is clearly toward centralisation or coordination.

  4. Transparency and Disclosure Aggregate annual reporting. Three countries have begun publishing aggregate reports and/or strengthened the aggregate reporting requirements to parliament. Internal audit procedures. Two countries have introduced internal audit procedures or strengthened the accountability of such procedures. Disclosure of material information. Six countries have increased the requirements for disclosure of financial and other information to the public.

  5. Responsibilities of the Boards Monitoring management and providing strategic guidance. Seven countries have implemented guidelines on remuneration and/or qualification and employment terms for boards and management. Exercising objective and independent judgement. Six countries have established rules for qualifications and integrity. Some have also reduced average board sizes. SOE board committees. Three countries have mandated, or encouraged, the establishment of board committees in SOEs. (audit, remuneration, strategy).

  6. The good news is: The trend is clearly (almost unanimously) SOE reform moving national practices closer to the recommendations of the SOE Guidelines. A couple of “hiccups” were, admittedly, observed during the financial crisis.

  7. Thanks!

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