Which of the following statements about state-owned enterprises (SOEs) is INCORRECT?

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SOEs tend to improve their performance when exposed to competitive markets.In countries like Japan, Singapore, and Sweden, well-performing SOEs enjoy more managerial independence and responsibility compared to others.SOEs in South Korea and Sweden typically have worse economic outcomes than those in Ghana.Having financial independence is a key element that enhances the managerial efficiency of SOEs.

Explanation

Option C is incorrect because SOEs in South Korea and Sweden generally outperform those in Ghana economically. The other statements are true: competition boosts SOE performance, successful SOEs in certain countries have greater managerial autonomy and accountability, and financial autonomy significantly contributes to effective management in SOEs.