STATE‐OWNED ENTERPRISES IN GREECE: THE EVOLUTION OF A PARADIGM 1996–2016

Abstract

ABSTRACTThis paper provides an overview of the major State‐Owned Enterprises (SOEs) in Greece with the aim of identifying the key features of the dominant paradigm and the critical turning points in its evolution. The process of SOEs’ reform is analysed with reference to corporatization, restructuring, privatization and liberalization policies. Drawing on theoretical and empirical evidence, the paper explores the impact of these reforms on the ownership, governance and public mission of SOEs, also addressing their current social and economic role. The hypothesis of a ‘paradigm shift’ is tested within the changing context of government intervention, market structure, management relationships, public service and control and accountability of SOEs. The case studies include 15 major enterprises in key economic‐industrial and utility sectors. The paper concludes that over the past two decades the SOE sector has shifted towards new governance and organizational patterns that have substantially affected the traditional SOE paradigm.