Naslov
Corporate Governance in Municipally Owned Companies : The Case of Zagreb City Holding

Autori
Tomšić, Dina ; Cindori, Sonja ; Franić, Daniela

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Regionalna naučnostručna i biznis konferencija „Liderstvo i menadžment: država, preduzeće, preduzetnik“ (LIMEN 2015) : zbornik radova / Bevanda, Vuk i dr. - Beograd : Udruženje ekonomista i menadžera Balkana (UDEKOM), 2015, 309-316

ISBN
978-86-80194-02-8

Skup
Regionalna naučnostručna i biznis konferencija „Liderstvo i menadžment: država, preduzeće, preduzetnik“

Mjesto i datum
Beograd, Srbija, 10.12.2015

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Corporate governance; Code of conduct; Zagreb City Holding; Croatia

Sažetak
Municipal ownership refers to the city's ownership of public utilities. The importance of providing a high quality, efficient, accountable and safe service is the highest priority of municipally owned company (MOC), while at the same time it has to perform on an efficient and effective manner in order to be able to satisfy the increasing infrastructure requirements and provide up to date services needed in contemporary urban life. On behalf of the city authorities, a municipally owned company is entitled to govern and perform operations over city's property, services, and systems which raise a question of responsibility and control of its management. Consequently, a high-quality corporate governance system, understood as a multifunctional set of processes affecting the way a company is administrated and controlled, is as much needed in public ownership as it is in private. Moreover, as a category that shape company behavior, good corporate governance system makes the platform for sustainable economic growth, increases economic efficiency, stakeholders’ satisfaction and availability of capital sources. Unlike privately owned companies, municipally owned companies, as well as state owned ones, usually are ones that have to obey market and non market logics. We propose that the transparency of MOC operations could be enhanced by the Code of conduct that complements the legal framework of performance. Although taken as a “soft low” and non obligatory instrument for non listed companies, when combined with integrated risk management, Code of conduct sustains stakeholding governance mode that municipally owned companies could rely on in fulfilling their economic and social mission and responsibility. Reviewing the conditions under which corporate governance issues are relevant to MOC, this article is aiming to highlight the governance challenges in the largest Croatian MOC – Zagreb City Holding. We endeavor to some implications that may be helpful as guidance to a policy in such profile of companies generally.

Izvorni jezik
Engleski

Znanstvena područja
Pravo

POVEZANOST RADA