Abstract

SANCLEMENTE-ARCINIEGAS, Javier. The State as shareholder: government of public companies in Colombia and France. Rev. Derecho Estado [online]. 2019, n.42, pp.249-278. ISSN 0122-9893.  https://doi.org/10.18601/01229893.n42.09..

This document presents a comparative analysis of the measures that have been adopted in France and in Colombia in order to rationalize the government of State's enterprises. Despite the privatization policy that has been implemented in the two countries since the mid-1980s, the role of the State as shareholder of public companies or mixed economy companies still has a considerable economic weight. It analyzes the policies on the State shareholder, the institutions that have been adopted in that framework and the influences that have been decisive for its adoption. It reflects on the way in which the adopted policies have tried to surpass the search of two objectives that, in principle, seem antagonistic.

On the one hand, the State behaves as a private shareholder seeking the profitability of its investments, and on the other, the State as guarantor of the general interest. It is concluded that the institution demands a reflexive analysis in which the rationality of the legal, economic and political systems is protected, but at the same time limited.

Keywords : State shareholder; Economic Law; Corporate Governance; State holdings; public enterprises; boards of directors.

        · abstract in Spanish     · text in Spanish     · Spanish ( pdf )