ECONOMIC LINKAGE BETWEEN CORPORATE GOVERNANCE AND SERVICE QUALITY IN TRANSPORT ENTERPRISES WITH STATE CAPITAL PARTICIPATION
DOI:
https://doi.org/10.5281/zenodo.23644105Abstract
The article examined the economic linkage between corporate governance and service quality in transport enterprises with state capital participation. Drawing on incomplete contract theory, the multitask agency model and service quality concepts, the author argued that governance instruments could be used to manage the balance between quality and cost. A weighted integral service quality index and a measure of the quality elasticity of demand were proposed. Official statistics showed that in 2021-2025 passenger numbers rose 3.23-fold in air transport, 2.82-fold on the metro and 1.33-fold in rail transport; this dynamic was interpreted as a demand-side quality signal. These rates exceeded the 1.31-fold growth of the transport system as a whole. A quality gap model linking a board-level quality committee, customer-oriented KPIs and service contracts was developed. The article closed with proposals to make quality indicators a mandatory element of corporate governance.Keywords
corporate governance, state-owned enterprise, service quality, transport, quality index, quality elasticity of demand, supervisory board, service contractReferences
1. Decree of the President of the Republic of Uzbekistan No. DP-6096 of 27 October 2020 “On measures to accelerate the reform of enterprises with state participation and privatization of state assets”. (n.d.). URL: https://lex.uz/docs/-5068824.
2. Eboli, L., & Mazzulla, G. (2007). Service quality attributes affecting customer satisfaction for bus transit. Journal of Public Transportation, 10(3), 21-34. https://doi.org/10.5038/2375-0901.10.3.2
3. Friebel, G., Ivaldi, M., & Vibes, C. (2010). Railway (de)regulation: A European efficiency comparison. Economica, 77(305), 77-91. https://doi.org/10.1111/j.1468-0335.2008.00739.x
4. Grönroos, C. (1984). A service quality model and its marketing implications. European Journal of Marketing, 18(4), 36-44. https://doi.org/10.1108/EUM0000000004784
5. Hart, O., Shleifer, A., & Vishny, R. W. (1997). The proper scope of government: Theory and an application to prisons. The Quarterly Journal of Economics, 112(4), 1127-1161. https://doi.org/10.1162/003355300555448
6. Hensher, D. A., & Stanley, J. (2003). Performance-based quality contracts in bus service provision. Transportation Research Part A: Policy and Practice, 37(6), 519-538. https://doi.org/10.1016/S0965-8564(03)00006-5
7. Hensher, D. A., Stopher, P., & Bullock, P. (2003). Service quality: Developing a service quality index in the provision of commercial bus contracts. Transportation Research Part A: Policy and Practice, 37(6), 499-517. https://doi. upper pale-blue panel represents the customer side and the lower pale-blue panel the company side; the orange ellipses G1, G2 and G3 on the vertical arrows mark the quality gaps, and the dark-navy block on the right shows the economic outcome of governance. org/10.1016/S0965-8564(02)00075-7
8. Holmstrom, B., & Milgrom, P. (1991). Multitask principal-agent analyses: Incentive contracts, asset ownership, and job design. Journal of Law, Economics, & Organization, 7(Special Issue), 24-52. https://doi.org/10.1093/jleo/7.special_ issue.24
9. OECD. (2024). OECD Guidelines on Corporate Governance of State-Owned Enterprises 2024. Paris: OECD Publishing. https://doi.org/10.1787/18a24f43-en
10. Oum, T. H., Adler, N., & Yu, C. (2006). Privatization, corporatization, ownership forms and their effects on the performance of the world’s major airports. Journal of Air Transport Management, 12(3), 109-121. https://doi. org/10.1016/j.jairtraman.2005.11.003
11. Paulley, N., Balcombe, R., Mackett, R., Titheridge, H., Preston, J., Wardman, M., Shires, J., & White, P. (2006). The demand for public transport: The effects of fares, quality of service, income and car ownership. Transport Policy, 13(4), 295-306. https://doi.org/10.1016/j.tranpol.2005.12.004
12. Regulation (EC) No 1371/2007 of the European Parliament and of the Council of 23 October 2007 on rail passengers’ rights and obligations. Official Journal of the European Union, L 315, 14-41. https://eur-lex.europa.eu/eli/reg/2007/1371/ oj
13. Shleifer, A. (1998). State versus private ownership. Journal of Economic Perspectives, 12(4), 133-150. https://doi. org/10.1257/jep.12.4.133
14. Uzbekistan Railways reveals number of passengers using Afrosiyob high-speed train. Trend News Agency, 14 December 2023. https://www.trend.az/casia/uzbekistan/3836945.html
15. de Oña, J., & de Oña, R. (2015). Quality of service in public transport based on customer satisfaction surveys: A review and assessment of methodological approaches. Transportation Science, 49(3), 605-622. https://doi.org/10.1287/ trsc.2014.0544
16. National Statistics Committee of the Republic of Uzbekistan. Number of passengers carried, total (annual), 1.06.01.0011, 2000-2025 (in Uzbek). https://api.siat.stat.uz/media/uploads/sdmx/sdmx_data_618.pdf
17. National Statistics Committee of the Republic of Uzbekistan. Number of passengers dispatched by rail transport (annual), 1.06.01.0012, 2000-2025 (in Uzbek). https://api.siat.stat.uz/media/uploads/sdmx/sdmx_data_634.pdf
18. National Statistics Committee of the Republic of Uzbekistan. Number of passengers carried by metro (annual), 1.06.01.0016, 2000-2025 (in Uzbek). https://api.siat.stat.uz/media/uploads/sdmx/sdmx_data_622.pdf
19. National Statistics Committee of the Republic of Uzbekistan. (2026, 11 March). Air passenger numbers rose 6.5-fold in 25 years (in Uzbek). https://stat.uz/uz/matbuot-markazi/qo-mita-yangiliklar/67278-25-jilda-samoljot-j-lovchilari-6-5-barobarga-ortgan-3
20. Passenger traffic at Uzbekistan’s airports grew by 30 percent in 2024. Spot.uz, 15 January 2025 (in Uzbek). https:// www.spot.uz/oz/2025/01/15/uzb-airports-2024/
Downloads
Published
How to Cite
Issue
Section
