MANAGERIAL AUTONOMY OF STATE-OWNED ENTERPRISES - DETERMINING FACTORS

The present paper reports on managerial autonomy of state-owned enterprises (SOEs), or its reverse: the control which is exerted by government and supervising public authorities on SOEs. First, it examines the types of control applied. Using evidence from a sample of 110 Greek SOEs, the paper identifies certain distinct dimensions of control related to: strategic business-boundary issues, pricing decisions, resource acquisition and mobilisation issues. Second, environmental and organisational ''determinants'' of the control intensity are identified. Results broadly suggest that the intensity of control, as perceived by enterprise managers, is (i) positively related to dependence on the state for resources, to enterprise size. and to ''political visibility,'' i.e., social orientation of product market strategy, and (ii) negatively related to market competition and demand unpredictability. An interpretation of the results is attempted drawing on wider organisational, social and economic theories. Policy implications are discussed.