State Special Rights and their impact on corporate governance and organization: a management perspective

This study explores the impact of State special rights, commonly referred to as “golden shares” or “golden powers,” on corporate governance and organizational structures of companies operating in industries deemed strategically important for national interests. While extensive legal literature has explored the concept and the implications of these special rights, there has been comparatively less attention given to their effects from a managerial and organizational viewpoint. This literature review aims at filling this gap by shedding lights into the ways in which golden shares can influence corporate decision-making, governance dynamics, and internal organizational structures. After providing an overview on the state-of-art of golden share literature, the study delves into the potential managerial and organizational implications related to the implementation of such measures in firms. The research opens avenues for further investigation into how golden shares can shape both governance practices and internal organizational frameworks, providing original and rare insights on this topic from a management perspective