Public Enterprise is a double blind peer-reviewed journal (ISSN 0351-3564), (DOI:10.21571/pehyj) published twice a year by International Center for Promotion of Enterprises that aims to disseminate high quality scholarly research and add to the pool of knowledge on the subject of public enterprise by publishing theoretical and empirical academic articles in the field of governance of public enterprises. The regular issues give priority to the topics related to performance measurement, management and monitoring systems, restructuring and privatisation, corporate policy development, comparisons with the private sector and the third sector, public policy relating to the public sector, corporate social responsibility and sustainability. The Journal welcomes both theoretical and applied research materials. 



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This Special Issue on Public Enterprise Performance Benchmarking of Public Enterprise Half-Yearly Journal includes seven research articles by authors from Argentina, India, Pakistan, Peru, Singapore, the UK, and USA. It spans a spectrum of research areas such as national competitiveness and economic growth, efficiency of public water companies, international trade, travel and tourism industry, operating and financial leverage and the systematic risk of enterprises, performance evaluation systems and operational efficiency,and efficiency of public banks.


Public Enterprises and the Enhancement of National Competitiveness

Peter K. Kresl

Bucknell University, Lewisburg, PA, USA

DOI: 10.21571/pehyj.2016.2201.01


Benchmarking the Efficiency of Public Water Companies in Peru:

A Conditional DEA Approach

Guillermo Diaz

CENTRUM Católica Graduate Business School

Pontificia Universidad Católica del Perú, Lima, Peru

DOI: 10.21571/pehyj.2016.2201.02


Measurement of Trade Costs, its Determinants and Trade Growth

Accounting for India with its Asian Trading Partners

Sarbjit Singh, Rahul Arora, and Somesh K. Mathur

Indian Institute of Technology Kanpur (IITK), Kanpur, India

DOI: 10.21571/pehyj.2016.2201.03


Drivers of Growth in the Travel and Tourism Industry in Thailand and

Singapore: A Geweke Causality Analysis

Tan Khee Giap, Evan Tan Beng Kai, and Vincent Kwan Wen Seng

National University of Singapore, Singapore, Republic of Singapore

DOI: 10.21571/pehyj.2016.2201.04


On Discerning the Implications of Operating and Financial Leverage Ratios

on the Systematic Risk of Enterprises: Evidence from Sensex Firms in India

N. R. Parasuraman and Ullas Rao

Shri Dharmasthala Manjunatheshwara Institute for Management Development (SDMIMD),

Mysore, India

DOI: 10.21571/pehyj.2016.2201.05


Application of Performance Evaluation System and Benchmarking to

Improve Operational Efficiency of Public Enterprises

Istaqbal Mehdi

Al-Aman Holding (Pvt) Ltd, Islamabad, Pakistan

DOI: 10.21571/pehyj.2016.2201.06


Technical Efficiency Analytics for the Public Banks in Argentina

Vincent Charles*

CENTRUM Católica Graduate Business School

Pontificia Universidad Católica del Perú, Lima, Peru

Claudia Peretto

Facultad de Ciencias Económicas

Universidad Nacional de Córdoba, Córdoba, Argentina

Tatiana Gherman

School of Business and Economics

Loughborough University, Leicestershire, United Kingdom

DOI: 10.21571/pehyj.2016.2201.07







Past Issues

pe2014The thematic issue of the ICPE Public Enterprise Quarterly Journal entitled “Implementing Economic Diplomacy and Internationalization” contains the proceedings of the 3rd International Conference on Economic Diplomacy and Internationalization organized by ICPE in partnership with the Ministry of Foreign Affairs of Bosnia and Herzegovina and the Foreign Trade Chamber of Bosnia and Herzegovina in cooperation with the Ministry of Foreign Affairs of the Republic of Slovenia. The conference was held in Sarajevo (Bosnia and Herzegovina) on 2-3 June 2014. The publication offers a wide range of approaches to economic diplomacy and internationalization implemented in various geographical and economic contexts and at the same time focusing both on practical as well as theoretical aspects. The authors of the articles in this volume are high profile experts from Bosnia and Herzegovina, Slovenia and foreign national institutions, representatives of the diplomatic corps, international organizations, business and academia. 











Ovitek 26aug2014 2The thematic issue of the ICPE Public Enterprise Quarterly Journal bearing the title »Integrated Management of Protected Areas« has been recently published in cooperation with the Association of Nature Parks of the Republic of Slovenia. The publication offers a comprehensive background documentation for assisting ICPE member countries and interested partners in their efforts to find and develop adequate solutions for the establishment and integrated management of protected nature areas, as a tool for protecting and safeguarding biotic diversity and for ensuring that economic growth goes hand in hand with the need to protect and restore valuable natural heritage.














 Public enterprise 2014The thematic issue of the ICPE Public Enterprise Quarterly Journal bearing the title “Economic Diplomacy and Internationalization – Practice and Theory” contains the proceedings of the 2nd International Conference on Economic Diplomacy and Internationalization organized by ICPE which was held in Ljubljana (Slovenia) on 17-18 June 2013. The authors of the articles in this volume are high profile experts from Slovenia and foreign national institutions, representatives of the diplomatic corps, international organizations, business and academia who shared their vast knowledge, expertise and insights regarding economic diplomacy and facing internationalization.
















The papers contained in the thematic issue of the ICPE Public Enterprise Quarterly Journal “Models of the State Ownership  Function Organization” are based on the selected presentations delivered during the High Level Meeting of the State Ownership Authorities “State as an owner – ownership policy, execution of state interests and fostering of public-private dialogue” that was organized by ICPE in Ljubljana (Slovenia) on 5-6 September 2011. The articles of high-profile experts from Asia, Africa, Latin America and Europe and international organizations present different models of organization of the state ownership function and different philosophies regarding the role of public sector enterprises in the national economy.














ICPEPEQJVOL17 The thematic edition of the ICPE Public Enterprise Journal is comprised of the proceedings  of the international expert meeting “Future Challenges of Public Sector Enterprises” organized by ICPE on 8 November 2010 in Ljubljana (Slovenia). The contributions of authors from Asia, Africa, Latin America and Europe, as well as international organizations representatives offer an insight into the future challenges of public sector enterprises. The articles tackle the importance of the public-private dialogue for overcoming the difficulties raising from the economic, public and political nature of PSE activities, analyze the PSE corporate governance and social responsibility policy frameworks aiming to identify best PSE practices as benchmarks for evaluation and the positioning of public sector enterprises as one of the tools leading to global welfare and human development improvement in the new economic and social framework.












Click on the cover to read the Public Enterprise Journal, Vol. 17 - 21.


Other ICPE Publications as well as older issues of the Journal are available at the ICPE Headquarters. For more information please contact us: This email address is being protected from spambots. You need JavaScript enabled to view it.





Ministry of Economy, Trade and Energy


Ministry of Industry, Small and Medium Enterprise and Investment Promotion


Technical Department for Sector of PEs


Department of State Property Management


Government Businesses Advice Branch, Department of Finance and Deregulation


Österreichische Industrie Holding AG


Ministry of Industries


Ministry of Economy


Public Enterprises Evaluation and Privatisation Agency (PEEPA)


Directorate for Industrial Relations and Management of Public Participation


Department of Coordination and Governance of State Owned Enterprises


Governance Directorate


El Sistema de Empresas SEP


State-owned Assets Supervision and Administration Commission


Ministry of Commerce, Industry and Tourism


Agency for the State Property Management

Czech Republic

Ministry of Finance


Unit for State-owned enterprises


Ministry of Investment


French Government Shareholding Agency


Federal Ministry of Finance


Special Secretariat for Public Enterprises and Entities


LEPL "Enterprise Management Agency"


The Hungarian Privatization and State Holdings Co.


Department of Public Enterprises


Ministry of State Owned Enterprises


Department of Finance


Treasury Department


Public Enterprise Division


State Property and Privatization Committee


Department of Government Investment and Public Enterprises


Ministry of Economics


Ministry of Economy


Khazanah Nasional Berhad


Public Enterprises Monitoring And Evaluation Board


State Property Committee of Mongolia


Instituto de Gestão das Participações do Estado (IGEPE)


National Planning Commission


SOE division

New Zealand

Crown Ownership Monitoring Unit


Bureau of Public Enterprises


Ownership Department


El Fondo Nacional de Financiamiento de la Actividad Empresarial del Estado (FONAFE)


Government Corporate Monitoring and Coordinating Committee


Department of Ownership Supervision


Ministry of Finance and Public Administration


Federal Agency for State Property Management


Department of Privatization and Restructuring Management


Temasek Holdings (Private) Limited

Slovak Republic

Fund of the National Property


Capital Assets Management Agency

South Africa

Department of Public Enterprises

South Korea

Ministry of Strategy and Finance


Sociedad Estatal de Participaciones Industriales


Division for State Enterprises


Department of Treasury Registrer


State Enterprises Policy Office


La Direction Générale des Participations (DGP)

United Kingdoms

Shareholder Executive


State Capital Investment Corporation


Ministry of Finace and National Planning