THE PUBLIC INTEREST IN STATE-OWNED ENTERPRISES
Keywords:state-owned companies, public interest, transparency, good governance
The author considers the questions of the public interest in state-owned companies in Serbia. The focus is on problems arising from the fact that the matter is not regulated in a uniform way and that there are differences between the organization of management and regulation of public companies and companies that are wholly or partly owned by the state, as well as, there are differences in the extent of participation of the state in such companies, where they can have all, controlling or minority stakes or blocks of shares, and that are not set up adequate mechanisms which would ensure that the decision makers, while deciding, have in mind public interests, not single or group interests.
In practice there is insufficient transparency related to the appointment of members of supervisory boards and directors of these companies is not appropriate, that sometimes are even laws are not fully respected, while too much inadequate political and short-run interests influence the sphere which should be reserved for professional judgment in accordance with high ethical standards prevents the good governance in them, in the sense it is required from the modern state-owned companies.
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