The Incorporated Company as an Instrument of Government: A Quest for a Comparative Understanding

Privatization initiatives and the doctrines of “New Public Management” have led to incorporated companies assuming considerable significance within government in many countries. The implications of this development for the structure and operation of the modern state are potentially far‐reaching, but are yet to be appropriately comprehended. In response, the article seeks to establish a framework for understanding the basic characteristics and use of companies from a comparative perspective. Attention is focused on their “publicness” and accountability as affected by their ownership, management, financing, and control, which can all involve a varying mix of the “public” and “private” sectors both domestically and internationally. An underlying belief is that a lot more research and analysis are required in this important area of organizational activity.