Impact of the board on management of Lithuanian state owned enterprises

LTReikšminiai žodžiai: Bendrovių valdymas; Bendrovės valdymas; Direktorių valdyba; Direktorių valdyba (BoD); Kapitalo grąža; Nuosavo kapitalo grąža (ROE); Valdybos sudėtis; Valstybinė įmonė (SOEs); Valstybio kapitalo įstaigos; Board composition; Board of directors (BoD); Corporate governance; Return on equity (ROE); State-owned enterprises (SOEs).

ENThe article concentrates on the main challenge tackled by the state-owned enterprises (SOEs) reform initiated by the 15th government of the Republic of Lithuania – an attempt to improve the corporate governance practices and management efficiency of Lithuanian SOEs. According to the insights offered by the new public management (NPM) paradigm, resource dependency theory (RDT) and principal-agent theory (PAT), the present research seeks to identify a quantifiable relationship between the composition of the board (which is one of the core aspects of the Lithuanian SOE reform) and return on equity (ROE) in Lithuanian SOEs (which is selected to be the key variable defining management efficiency). Based on key relationships among the selected parameters of the board (e.g., size, political independency, gender diversity, other) and SOE management efficiency identified, this paper offers practical public policy recommendations in the field of SOE management efficiency. [From the publication]

• Impact of the corporate governance reform on the management effectiveness of state-owned enterprises in Lithuania in 2012–2014 / Liudas Jurkonis, Šarūnas Merkliopas, Karolis Kyga. Ekonomika. 2016, t. 95 (2), p. 158-178.
• SOE corporate governance reform in Lithuania - explained and empirically tested / Liudas Jurkonis, Šarūnas Merkliopas, Deividas Gabulas. Ekonomika. 2023, t. 102 (1), p. 122-139.