Government as entrepreneur: Changing ownership, strategy, and governance logics of state-owned enterprise from 1970s to present

State-owned enterprises continue to be a significant element of the global economy. Especially in emerging economies, state ownership is very common. In Europe, too, government ownership is strong in the energy and transport sectors, among others (e.g. OECD 2017). However, general perceptions of state business are based on 20th-century models. This study explores how government business has changed in the era of globalization.

The study looks at changes in government business from the 1970s to the 2010s. The purpose is to find out how the basic features of state-owned enterprises have changed. The study focuses on ownership policies and the changing strategies of companies in Finland and other Nordic countries. The purpose of the study is to examine how the theoretical assumptions traditionally associated with state-owned business are true in today's Nordic context, and how they should be redefined.