Public Utilities as hybrid organizations: at the interplay between competing logics and corporate governance mechanisms

Public Utilities represent an interesting research object as examples of State-Owned Enterprises (SOEs) and of hybrid organizations that must deal with competing public values, such as “the simultaneous creation of social and commercial value” (Alexius & Ornberg, 2015, p. 288). Within these still under-investigated theoretical premises, the present study explores the impact of corporate governance mechanisms on the ability of Public Utilities to operate according to both a public value and a market logic, balancing economic sustainability and the creation of public value for several different stakeholders. In particular, the present study employs primary data from a survey and semi-structural interviews relying on a multiple case study methodology to assess the link between corporate governance mechanisms and organizational identity in the context of Public Utilities. Results show the primary role of ownership in dealing with competing logics while at the same time suggesting that, besides corporate governance mechanisms, other organizational practices play a relevant role in adopting a hybrid strategic framework.