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Reasons for the establishment of public corporation
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[QUOTE="Jasz, post: 275264, member: 61772"] The reasons for the establishment of public corporation are: First, to promote market efficiency. The government has the right to establish a public corporation since it is an instrument to promote market efficiency. For example, the state-owned enterprises have been playing an important role in promoting economic development and should be given more freedom to operate. Second, to protect the interests of citizens. Public corporations are established by the Constitution which aims at protecting the interests of citizens. For example, if a private company or individual commits illegal act against others through his/her own means, he/she may be fined but if he/she commits illegal act by using public funds or other means he/she will be punished according to law. So public corporation is established by law and its owners need to obey law just like any other citizen does. To provide financial aid to poor people, who cannot afford to pay their tuition fee at private universities and to encourage innovation by making research and development projects more affordable for small companies and startups. [/QUOTE]
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