A state-owned enterprise ( SOE ) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have a distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit (such as a state railway). They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives.
41-603: Millhall is a hamlet in East Renfrewshire , in the Central Lowlands of Scotland . It lies 0.8 miles (1.3 km) southeast of Eaglesham , 8.3 miles (13.4 km) northwest of Strathaven and 3.6 miles (5.8 km) southwest of East Kilbride . Polnoon Castle , a scheduled monument , is in Millhall. Millhall is a small hamlet. The historic Polnoon Bridge is in the area, as well as an old mill and
82-429: A SOE qualifies as "owned" by a state (SOEs can be fully owned or partially owned; it is difficult to determine categorically what level of state ownership would qualify an entity to be considered as state-owned since governments can also own regular stock , without implying any special interference). Finally, the term "enterprise" is challenged, as it implies statutes in private law which may not always be present, and so
123-615: A family, ranking just behind East Dunbartonshire to the north of Glasgow. In January 2008, East Renfrewshire became the first Scottish local authority to create a Facebook page to publicise its services. East Renfrewshire covers an area to the south and south-west of Glasgow . Many of the district's settlements are classed as part of the Greater Glasgow urban area for statistical purposes. The largest of these, in terms of population, are Newton Mearns , Barrhead , Giffnock and Clarkston . The area becomes more rural away from
164-570: A few farms. Millhall is in East Renfrewshire , one of the 32 council areas of Scotland for local government purposes. East Renfrewshire Council, the unitary local council , is based in nearby Giffnock and is the body responsible for local governance. For local electoral purposes, Millhall is in the Eaglesham, Waterfoot and Newton Mearns South ward. The Scottish Parliament is responsible for devolved matters such as education , health and justice , while reserved matters are dealt with by
205-661: A public objective. For that reason, SOEs primarily operate in the domain of infrastructure (e.g., railway companies), strategic goods and services (e.g., postal services, arms manufacturing and procurement), natural resources and energy (e.g., nuclear facilities, alternative energy delivery), politically sensitive business, broadcasting, banking, demerit goods (e.g., alcoholic beverages ), and merit goods (healthcare). SOEs can also help foster industries that are "considered economically desirable and that would otherwise not be developed through private investments". When nascent or 'infant' industries have difficulty getting investments from
246-495: A regular enterprise, state-owned enterprises are typically expected to be less efficient due to political interference, but unlike profit-driven enterprises they are more likely to focus on government objectives. In Eastern Europe and Western Europe , there was a massive nationalization throughout the 20th century, especially after World War II . In the Eastern Bloc , countries adopted very similar policies and models to
287-573: Is Hairmyres railway station . The buses from Eaglesham go to the railway station. The nearest motorway is the M77 , of which Junction 4 at Newton Mearns and Junction 5, also at Newton Mearns are the main junctions for Millhall. Millhall lies within the Strathclyde Partnership for Transport Passenger transport executive . The nearest airport is Glasgow Airport , 11 miles (17.7 km) northwest of Millhall. Millhall forms part of
328-562: Is a viable argument for SOEs is debated. SOEs are also frequently employed in areas where the government wants to levy user fees , but finds it politically difficult to introduce new taxation. Next, SOEs can be used to improve efficiency of public service delivery or as a step towards (partial) privatization or hybridization. SOEs can also be a means to alleviate fiscal stress, as SOEs may not count towards states' budgets. Compared to government bureaucracy, state owned enterprises might be beneficial because they reduce politicians' influence over
369-764: Is approximately 70% of total employment. State-owned enterprises are thus a major factor behind Belarus's high employment rate and a source of stable employment. In most OPEC countries, the governments own the oil companies operating on their soil. A notable example is the Saudi Arabian national oil company , Saudi Aramco , which the Saudi government bought in 1988, changing its name from Arabian American Oil Company to Saudi Arabian Oil Company. The Saudi government also owns and operates Saudi Arabian Airlines , and owns 70% of SABIC as well as many other companies. China's state-owned enterprises are owned and managed by
410-410: Is delivered free to homes and businesses, which has its emphasis on the eastern half of the local authority, but also covers news across the western half as well as the south of Glasgow . The first election to East Renfrewshire Council was held in 1995, initially operating as a shadow authority alongside the outgoing authorities until the new system came into force on 1 April 1996. Political control of
451-617: Is highlighted in the predominant local terminology, with SOEs in Canada referred to as a " Crown corporation ", and in New Zealand as a " Crown entity ". The term " government-linked company " (GLC) is sometimes used, for example in Malaysia , to refer to private or public (listed on a stock exchange) corporate entities in which the government acquires a stake using a holding company . The two main definitions of GLCs are dependent on
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#1732798371491492-608: Is home to many small to medium businesses. The interests of these businesses are looked after by the East Renfrewshire Chamber of Commerce. The local newspapers are the Barrhead News , covering the local authority with emphasis on the western half of the area, which primarily includes the town of Barrhead and the villages of Neilston and Uplawmoor, and the Glasgow South and Eastwood Extra , which
533-517: Is one of 32 council areas of Scotland . It was formed in 1996, as a successor to the Eastwood district of the Strathclyde region. The northeastern part of the council area is close to Glasgow and many of the council area's northern settlements fall into the Greater Glasgow urban area. Clockwise, East Renfrewshire borders Glasgow City council area to the northeast, South Lanarkshire to
574-511: Is the statutory fire and rescue service and has a fire station based in nearby Clarkston. Policing in Millhall is provided by Police Scotland . The Strathclyde Partnership for Transport , a public body in Scotland , has direct operational responsibilities. Transport Scotland manages the local rail network. East Renfrewshire East Renfrewshire ( Scots : Aest Renfrewshire ; Scottish Gaelic : Siorrachd Rinn Friù an Ear )
615-765: The Parliament of the United Kingdom . Millhall forms part of the county constituency of East Renfrewshire , electing one member of parliament (MP) to the House of Commons of the Parliament of the United Kingdom. Kirsten Oswald of the SNP was elected as MP for East Renfrewshire in the 2019 general election . Before the constituency's creation in 2005, Millhall was in the Eastwood Constituency . For
656-748: The Renfrewshire lieutenancy . The area that is now East Renfrewshire has been inhabited since prehistoric times. At Dunwan Hill near Eaglesham and at Duncarnock near Newton Mearns there were Iron Age hill forts, both thought to have been occupied between around 1200 BC and 400 AD. During the Industrial Revolution the Levern valley became a centre for the textiles industry, with several mills being established in Neilston and Barrhead. Giffnock initially grew to house
697-715: The State-owned Asset Supervision and Administration Commission (SASAC) . China's state-owned enterprises generally own and operate public services, resource extraction or defense. As of 2017 , China has more SOEs than any other country, and the most SOEs among large national companies. China's SOEs perform functions such as: contributing to central and local governments revenues through dividends and taxes, supporting urban employment, keeping key input prices low, channeling capital towards targeted industries and technologies, supporting sub-national redistribution to poorer interior and western provinces, and aiding
738-443: The post town of Glasgow in the G postcode area . Millhall is a part of postcode district G76, which also includes neighbouring settlements Clarkston , Busby , Carmunnock , Eaglesham and Waterfoot , and small parts of East Kilbride . The hamlet lies on the main road between Eaglesham , Auldhouse , and Strathaven . It is 0.8 miles from Eaglesham, and in Eaglesham there are bus services. The nearest railway station to Millhall
779-471: The single transferable vote system, introduced by the Local Governance (Scotland) Act 2004 . Election results since 1995 have been as follows: Six multi-member wards (20 seats) were created for the 2007 election, replacing 20 single-member wards which had been in place since the creation of the council in 1995. This representation decreased to 18 seats across five renamed and redrawn wards for
820-436: The 2017 election: Government-owned corporation The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and enterprises held by regional public bodies are considered state-owned). Next, it is contestable under what circumstances
861-744: The Glasgow urban area with areas of moorland and numerous small lochs , many of which have been turned into reservoirs. The moors include part of the Whitelee Wind Farm . A 2011 survey showed that 41% of Scotland's Jewish population lived in East Renfrewshire, making up 2.4% of the area's population. The area is divided into eleven community council areas , all of which have community councils : Largest localities by population 28,210 17,890 12,250 9,800 5,170 4,530 4,170 3,630 3,470 3,310 East Renfrewshire
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#1732798371491902-882: The Minister of Finance II, the Minister in the Prime Minister's Department in charge of the Economic Planning Unit, the Chief Secretary to the Government, Secretary General of Treasury and the heads of each of the GLICs (the Employees Provident Fund, Khazanah Nasional Berhad , Lembaga Tabung Angkatan Tentera (the armed forces pension fund), Lembaga Tabung Haji and Permodalan Nasional Berhad . Khazanah Nasional Berhad provided
943-653: The Nazi Party, parachuted into Floors Farm, near the village of Waterfoot , on a secret mission to meet the Duke of Hamilton and Brandon for peace negotiations. The botched landing led to his capture and arrest. In 1971 a gas explosion at a parade of shops in Clarkston killed 22 people and injured more than 100. In a 2007 Reader's Digest poll, East Renfrewshire was voted the second best place in Britain to raise
984-1019: The USSR. Governments in Western Europe, both left and right of centre, saw state intervention as necessary to rebuild economies shattered by war. Government control over natural monopolies like industry was the norm. Typical sectors included telephones , electric power , fossil fuels , iron ore , railways , airlines , media , postal services , banks , and water . Many large industrial corporations were also nationalized or created as government corporations, including, among many others: British Steel Corporation , Equinor , and Águas de Portugal . A state-run enterprise may operate differently from an ordinary limited liability corporation. For example, in Finland, state-run enterprises ( liikelaitos ) are governed by separate laws. Even though responsible for their own finances, they cannot be declared bankrupt ;
1025-529: The Western water and sewerage regions of Scotland. Waste management is provided by the East Renfrewshire local council. Water supplies are provided by Scottish Water , a government-owned corporation of the Scottish Government . Millhall's distribution network operator for electricity is Scottish Power . The NHS board is NHS Greater Glasgow and Clyde . The Scottish Fire and Rescue Service
1066-607: The council since 1996 has been as follows: The leaders of the council since 1996 have been: The council has its headquarters at Eastwood Park on Rouken Glen Road in Giffnock , in a building which was completed in 1980 for the former Eastwood District Council. The council also has an office and customer service centre at 211 Main Street in Barrhead , built in 2003. Since 2007 elections have been held every five years under
1107-507: The form of Public Sector Undertakings (PSUs). The Malaysian government launched a GLC Transformation Programme for its linked companies and linked investment companies ("GLICs") on 29 July 2005, aiming over a ten-year period to transform these businesses "into high-performing entities". The Putrajaya Committee on GLC High Performance ("PCG"), which oversaw this programme, was chaired by the Prime Minister , and membership included
1148-412: The leading application of the incomplete contract theory to the issue of state-owned enterprises. These authors compare a situation in which the government is in control of a firm to a situation in which a private manager is in control. The manager can invest to come up with cost-reducing and quality-enhancing innovations. The government and the manager bargain over the implementation of the innovations. If
1189-592: The negotiations fail, the owner can decide about the implementation. It turns out that when cost-reducing innovations do not harm quality significantly, then private firms are to be preferred. Yet, when cost-reductions may strongly reduce quality, state-owned enterprises are superior. Hoppe and Schmitz (2010) have extended this theory in order to allow for a richer set of governance structures, including different forms of public-private partnerships . SOEs are common with natural monopolies , because they allow capturing economies of scale while they can simultaneously achieve
1230-526: The pre-1975 burgh of Barrhead and parish of Neilston , both lying in the valley of the Levern Water . The new council also took over the functions of the abolished Strathclyde Regional Council within the area. The area's name references its location within the historic county of Renfrewshire, which had been abolished for local government purposes in 1975 when Eastwood district and Strathclyde region had been created. East Renfrewshire forms part of
1271-399: The private sector (perhaps because the good that is being produced requires very risky investments, when patenting is difficult, or when spillover effects exist), the government can help these industries get on the market with positive economic effects. However, the government cannot necessarily predict which industries would qualify as such 'infant industries', and so the extent to which this
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1312-428: The proportion of the corporate entity a government owns. One definition purports that a company is classified as a GLC if a government owns an effective controlling interest (more than 50%), while the second definition suggests that any corporate entity that has a government as a shareholder is a GLC. The act of turning a part of government bureaucracy into a SOE is called corporatization . In economic theory ,
1353-686: The purposes of the Scottish Parliament , Millhall forms part of the Eastwood constituency, which is represented in the Scottish Government by Jackson Carlaw MSP , of the Conservative party. Millhall experiences a temperate maritime climate , like much of the British Isles , with relatively cool summers and mild winters. Regular but generally light precipitation occurs throughout the year. Millhall within
1394-451: The question of whether a firm should be owned by the state or by the private sector is studied in the theory of incomplete contracts developed by Oliver Hart and his co-authors. In a world in which complete contracts were feasible, ownership would not matter because the same incentive structure that prevails under one ownership structure could be replicated under the other ownership structure. Hart, Shleifer, and Vishny (1997) have developed
1435-469: The service. Conversely, they might be detrimental because they reduce oversight and increase transaction costs (such as monitoring costs, i.e., it is more difficult and costly to govern and regulate an autonomous SOE than it is the public bureaucracy). Evidence suggests that existing SOEs are typically more efficient than government bureaucracy, but that this benefit diminishes as services get more technical and have less overt public objectives. Compared to
1476-408: The southeast, East Ayrshire to the southwest, North Ayrshire to the west and Renfrewshire to the northwest. Until 1975, the council area formed part of the county of Renfrewshire for local government purposes along with the modern council areas of Renfrewshire and Inverclyde . These three council areas together still form a single lieutenancy area called Renfrewshire. East Renfrewshire
1517-465: The state answers for the liabilities. Stocks of the corporation are not sold and loans have to be government-approved, as they are government liabilities. State-owned enterprises are a major component of the economy of Belarus . The Belarusian state-owned economy includes enterprises that are fully state-owned, as well as others which are joint-stock companies with partial ownership by the state. Employment in state-owned or state-controlled enterprises
1558-497: The state's response to natural disasters, financial crises and social instability. China's SOEs are at the forefront of global seaport-building, and most new ports constructed by them are done within the auspices of the Belt and Road Initiative . As of at least 2024, an Ethiopian SOE is Africa's largest and most profitable airline, as well as Ethiopia's largest earner of foreign exchange. In India , government enterprises exist in
1599-542: The term "corporations" is frequently used instead. Thus, SOEs are known under many other terms: state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, government-owned company, government controlled company, government controlled enterprise, government-owned corporation, government-sponsored enterprise , commercial government agency, state-privatised industry public sector undertaking, or parastatal, among others. In some Commonwealth realms , ownership by The Crown
1640-409: The workers at Giffnock Quarries, which opened in 1835. The honey-coloured stone from Giffnock was used at Glasgow University and Glasgow Central station among many other buildings. Following the development of the railways in the mid-nineteenth century, the parts of the area close to Glasgow became increasingly suburban in character. In 1941, Rudolf Hess , one of Adolf Hitler's top deputies within
1681-497: Was created in 1996 under the Local Government etc. (Scotland) Act 1994 , which replaced Scotland's previous local government structure of upper-tier regions and lower-tier districts with unitary council areas providing all local government services. East Renfrewshire covered the whole of the abolished Eastwood district and part of Renfrew district , being the Barrhead electoral division , which roughly corresponded to