Abstract
Objective: This article analyses elements, characteristic and principle of corporate governance in the public sector. We are going to explore the significance and identify the need for a good governance in public entities. Methods: This study emphasizes comparative analysis of advantages and disadvantages of corporate governance. It also used historical methods for demonstrating the importance of progress in the concept of corporate governance. Several past research journals have been used to present a blend of the need and characteristics of Corporate Governance in the public sector. Through this study, the researchers have made an effort to prove the importance and effectiveness of corporate governance in the public sector. Findings: Delivering public services and satisfying public need is the most important goal of public authorities’ corporate governance. It also has aim to increase shareholders profit through obtaining citizen satisfaction. In addition, satisfying the need of client (citizen) can improve public benefit. Application/Improvements: The main areas of research interest in this still incipient area and it illustrates the ways in which public sector approaches to codes of good practice, corporate ethics and social responsibility differ from their equivalents in the private sector. This study explains and analyses the fundamental concepts of the Corporate Governance of public entities. Also, authors have aim to explain effective governance in the public sector. Keywords: Corporate Governance, Characteristics, Effectiveness, Elements, Principle, Public Sector
Highlights
One of the concepts that have field in specialized literature and in practice is public entities’ corporate governance
While there is a lack of credibility towards public sector entities, it is necessary to recognize that these cannot improve without participation and support of citizens as main change’s agents[2]
We have discussed about the effect of change it has brought into the private sector, and have discussed about the need and characteristics of Corporate Governance in Public Sector
Summary
One of the concepts that have field in specialized literature and in practice is public entities’ corporate governance. Public entities of any kind plays a fundamental role in the economy and governed from every country They are decisive in the development of functions of the State and represent a means to grant citizens, resources and / or services that these require to have a better quality of life. As it is presented economic growth, the entities public face greater complexity in the management of capital public and a higher requirement in the administration and control thereof. In the concluding part we have discussed, analyzed the importance of Corporate Governance in Public Sector
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