PERFORMANCE APPRAISAL AND SUPERVISION OF STATE-OWNED ENTERPRISES IN BOSNIA AND HERZEGOVINA
| Autor: | Nikola Nikolić, Slobodan Marin, Milan Šušić |
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| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: | |
| Zdroj: | Journal of Process Management and New Technologies, Vol 8, Iss 4, Pp 77-94 (2020) |
| Druh dokumentu: | article |
| ISSN: | 2334-735X 2334-7449 |
| DOI: | 10.5937/jouproman8-29087 |
| Popis: | Bosnia and Herzegovina has opted for a market economy, which implies the liberalization of prices and trade, as well as the existence of an applicable legal system, including real rights. In order for a market economy to function, it is necessary to ensure macroeconomic stability and consensus on economic policy. A developed financial sector and the absence of significant barriers to entry and exit strengthen the efficiency of the economy. By analyzing the database of financial statements of state-owned companies in Bosnia and Herzegovina, we conclude that they are mostly in poor financial condition. This paper analyzes the structure of the state-owned enterprise sector, and identifies individual enterprises that affect fiscal and macroeconomic performance. State-owned companies do not contribute enough to the growth and stability of the economy, the financial analysis showed. The framework for the management of state-owned enterprises has also been analyzed and we come to the conclusion that the entity and cantonal governments do not perform their ownership function in accordance with the WB / OECD guidelines. Quality governance reforms in state-owned enterprises are needed to encourage transparency and increase the quality of accountability. Achieving a higher level of quality in the state-owned enterprise sector can achieve an increase in total GDP of 3 percent annually. |
| Databáze: | Directory of Open Access Journals |
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