Valstybės valdomų įmonių valdymo teisinis reguliavimas: lyginamieji aspektai ; Comparative aspects of the legal regulation of the state-owned enterprises management

Abstract

The importance of state-owned enterprises in social and economic point of view is increasing all around the world, and their financial returns are rising rapidly every year. In Lithuania, these companies contribute to the state budget growth, they create a significant number of workplaces and provide socially important services that are sufficiently sensitive in our society, such as energy supplies or official registers. With the growing importance of these companies and with state seeking membership in Organisation for Economic Co-operation and Development, important decisions were taken to improve and make more effective the legislation of state-owned enterprises and their coordinating institution. This Master thesis examines the valid aspects of legal regulation of state-owned enterprises governance, covering different legal forms of such companies and their distribution of profits. Also, in different parts of this thesis are analyzed the competition of state-owned enterprises in the market, along with other shareholders rights of the limited liability companies, models of corporate governance functions regarding situation of Lithuanian coordinating institution. There is also analyzed the latest requirements regarding the process of independent and competent board members appointment, transparency and disclosure of information. All of these aspects are compared to other countries practices and the Guidelines on Corporate Governance of State-owned Enterprises, which were published by Organisation for Economic Co-operation and Development. At the end of this thesis are summarized conclusions regarding the legal regulation of the state-owned enterprises management.