State control and corporate governance in transition economies:25 years on from 1989

Research Question/Issue - Which forms of state control over corporations have emerged in countries that made a transition from centrally-planned to marked-based economies and what are their implications for corporate governance? We assess the literature on variation and evolution of state control in transition economies, focusing on corporate governance of state-controlled firms. We highlight emerging trends and identify future research avenues. Research Findings/Insights - Based on our analysis of more than 100 articles in leading management, finance, and economics journals since 1989, we demonstrate how research on state control evolved from a polarized approach of public–private equity ownership comparison to studying a variety of constellations of state capitalism. Theoretical/Academic Implications - We identify theoretical perspectives that help us better understand benefits and costs associated with various forms of state control over firms. We encourage future studies to examine how context-specific factors determine the effect of state control on corporate governance. Practitioner/Policy Implications - Investors and policymakers should consider under which conditions investing in state-affiliated firms generates superior returns.

The political control of orthodoxy in the construction of the Romanian State, 1859-1918

This article analyses the relationship between Orthodoxy and state from the unification of the Principalities of Moldavia and Wallachia in 1859 to the creation of Greater Romania in 1918. Examining the attitudes of political leaders towards the dominant religion, this article argues that during the reigns of Prince Cuza and King Carol I the Church became a state institution closely connected to the development of political regimes. It is suggested that by claiming doctrinal religious connections with Constantinople and independence from foreign intervention in the Church’s affairs, religious and political leaders from 1859 to 1918 amplified the construction of Romanian national mythology which contributed towards the political unity of the state.

Control integrated finite state machine design for photovoltaic module integrated converter

The operation state of photovoltaic Module Integrated Converter (MIC) is subjected to change due to different source and load conditions, while state-swap is usually implemented with flow chart based sequential controller in the past research. In this paper, the signatures for different operational states are evaluated and investigated, which lead to an effective control integrated finite state machine (CIFSM), providing real-time state-swap as fast as the local control loop. The proposed CIFSM is implemented digitally for a boost type MIC prototype and tested under a variety of load and source conditions. The test results prove the effectiveness of the proposed CIFSM design.