o:28583 How can the efficiency of corporate governance in Serbian state-owned enterprises be increased? en Abstract: This paper focuses on the practical coexistence of agency and stewardship theories. By analysing the three dimensions of government structures, compensation schemes, and monitoring activities, we show that this coexistence is possible due to several situational factors. Using field research data, we examine the causes of this coexistence and the effects it has on the efficiency and effectiveness of corporate governance, and question the practical sustainability of this dualism. We conclude that coexistence is possible but is unsustainable, and it would be wrong to support such a situation for a long period of time. We discuss paths of potential action and their implications for key stakeholders. Keywords: corporate governance, agency theory, stewardship theory, state-owned enterprise 1552099 10.2298/EKA1816063A 1552101 0013-3264 2023-04-03T11:41:18.679Z 44 no 46 Ana Aleksić Mirić Univerzitet u Beogradu Ekonomski fakultet 12936039 0000-0003-3907-8860 Miroslav Todorović Univerzitet u Beogradu Ekonomski fakultet person 12810343 0000-0002-3578-6766 Nebojša Janićijević Univerzitet u Beogradu Ekonomski fakultet person 12545639 0000-0003-3919-0086 application/pdf 687041 https://phaidrabg.bg.ac.rs/o:28583 no yes 33 70 92000001 11A03 Economic annals 63 216 63 84 2018