This title was first published in 2003.This book analyzes the policy initiatives used in Australia, New Zealand, the United Kingdom, and the United States to improve the efficiency of government service delivery, such as commercialization, privatization, and, in particular, corporatization. The book looks at how markets, corporate governance processes, and judicial and administrative reviews affect the efficiency and ethics of service delivery. The book crosses a number of academic disciplines - corporate law and governance, law and economics, public choice theory, ethics and public law and administration. It will also be of value to a range of professional constituencies - to those involved in governance functions in government and privatized corporations, to professionals servicing these organizations, and to officials administering government services. These issues are also highly pertinent to emerging economies where governance of public services is crucial to the transition to market democracy.

Many governments across the world have responded to the need for greater efficiency in the delivery of government services by the reorganization of these bureaucracies along the lines of for-profit business corporations. In doing so, governments have relied on the capacity for governance practices to overcome the weaker incentives created by the attenuated 'property rights' that are created in public enterprise. This study of the corporate governance of these corporations examines the history of government corporations, the problems associated with mating the corporation to a public use, the possibilities for rent-seeking associated with government corporations, a new body of empirical evidence on governance practices and some of the potential areas for reform in government corporations. It will attract a broad academic audience and will also be of value and interest to a wide range of professional constituencies. It is the only book of its kind to evaluate the corporate governance issues in government corporations.

Many governments across the world have responded to the need for greater efficiency in the delivery of government services by the reorganization of these bureaucracies along the lines of for-profit business corporations. In doing so, governments have relied on the capacity for governance practices to overcome the weaker incentives created by the attenuated 'property rights' that are created in public enterprise.