Institutional factors of regulation of state-owned enterprises in the context of the COVID-19 pandemic

Abstract

Introduction. In the context of the pandemic crisis, the economic activity of the public sector has been an essential component of the resilience of the domestic economic environment. The public sector played a significant role in overcoming the consequences of COVID-19 at the national, regional, and local levels. At the same time, the pandemic has had a significant impact on one of the entities in the general government sector, in particular state-owned enterprises(SOEs). International practice shows that, in addition to market mechanisms for improving the efficiency of state-owned enterprises, institutional support also plays an important role in restoring their performance to the pre-crisis period. The purposeis to identify the institutional factors of macroeconomic regulation of state-owned enterprises in the context of the impact of uncertainty caused by the COVID-19 pandemic on their activities. Methodology: basic methods of policy analysis (institutional analysis, comparative analysis, implementation analysis, descriptive analysis); synthesis and generalization of the data obtained; tabular method. Main results and conclusions. The results of the comparative and implementation analysis of international regulatory norms and Ukrainian legislation on the regulation of SOEs have shown that the domestic legal framework is in line with the recommendations of international organizations. It is identified that despite the current process of improving legislative norms, there are a number of institutional challenges: numerous regulatory documents on the management of state-owned property and corporate rights of the state; the process of privatization and transfer of state and municipal property rights; the dividend policy of the state; and transparency of the activities of state-owned enterprises.