Quasi-Public Corporation
Barron's Finance & Investment Dictionary:
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Quasi-Public Corporation
corporation that is operated privately and often has its stock traded publicly, but that also has some sort of public mandate and often has the government’s backing behind its direct debt obligations. Some examples: COMSAT (Communications Satellite Corporation), which was sponsored by the U.S. Congress to foster the development of space; the federal national mortgage association (Fannie Mae), which was founded to encourage growth in the secondary mortgage market; and the student loan marketing association (Sallie Mae), which was started to encourage the growth of a secondary market for student loans.
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Quasi-Public Corporation
Investopedia Financial Dictionary:
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Quasi-Public Corporation
A type of corporation in the private sector that is backed by a branch of government that has a public mandate to provide a given service. Most quasi-public corporations began as government agencies, but have since become separate entities. It is not uncommon to see the shares of this type of corporation trade on major stock exchanges, which allows individual investors to gain exposure to the company's profit.
Investopedia Says:
For example, the Federal National Mortgage Association (Fannie Mae) is regarded as a quasi-public corporation because it operates as an independent corporation. This company operates under a congressional charter that aims to increase the availability and affordability of homeownership, but is not treated as any part of the government. Contrary to popular opinion, employees of quasi-public corporations do not work for the government.
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Barron's Finance & Investment Dictionary
Dictionary of Finance and Investment Terms. Copyright © 2010 by Barron's Educational Series, Inc. All rights reserved.
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