This paper is based on the theory of hybrid organizations and we investigate the context, factors, mediators, and outcome of a public scandal involving a Romanian state-owned company in the civil aviation sector. This retrospective case study is part of a research design that alternates between inductive and deductive procedures devised to test relevant hypotheses, integrate several theories, and construct the causal mechanism of the corporate scandal. Four theories have been selected to address multiple aspects of the case: the hybrid organization theory, the agency theory, the fraud triangle theory, and the legitimacy theory. Several hypotheses have been proposed at the confluence of these frameworks, and the data collection process was conducted to ensure the credibility, dependability, and transferability of results. In addition to the themes and categories that have emerged from the thematic analysis, the paper also uses the process-tracing method to propose a causal graph and an event-history map in support of the hypotheses. The paper puts forward a series of recommendations on how to improve the corporate governance of state-owned enterprises, and to prevent potential scandals. The authors suggest that the separation of ownership and control is beneficial for strategy implementation in state-owned enterprises and can alleviate an entity’s financial difficulties.

本文基于混合组织理论，我们调查了一起涉及罗马尼亚国有民航公司的公共丑闻的背景、因素、调解者和结果。部门。该回顾性案例研究是研究设计的一部分，该研究设计在归纳和演绎程序之间交替进行，旨在检验相关假设、整合多种理论并构建公司丑闻的因果机制。选择了四种理论来解决案件的多个方面：混合组织理论、代理理论、欺诈三角理论和合法性理论。在这些框架的汇合处提出了几个假设，并且进行了数据收集过程以确保结果的可信度、可靠性和可转移性。除了主题分析中出现的主题和类别外，本文还使用过程追踪方法提出了一个因果图和一个事件历史图来支持假设。文章就如何完善国有企业的公司治理、防范可能出现的丑闻提出了一系列建议。作者认为，所有权和控制权的分离有利于国有企业战略的实施，可以缓解实体的财务困难。