State owned enterprises (SOEs) play a critical role in the economy of any country as they are often present in strategically important sectors such as banking, oil and energy, infrastructure, public utilities and telecommunications. These SOEs are the principal entities that deliver many social goods and services to ensure quality of life of the citizen. Better performing SOEs will result in improved macroeconomic as well as government fiscal performance. Thus, it is important for policy makers to ensure that these companies are well governed.