The Corporate Governance System for the GOCC Sector

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Cesar L. Villanueva

Principles of Public Corporate Governance

  1. Full Implementation of the Stakeholder Theory in the GOCC Sector

The GOCC Governance Act recognizes that all GOCCs, whether chartered or nonchartered, are imbued with “public interest” as it declares the State policy under Section 2 thereof: “The State recognizes the potential of [GOCCs] as significant tools for economic development. It is thus the policy of the State to actively exercise its ownership rights in GOCCs and to promote growth by ensuring that operations consistent with national development policies and programs.”

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