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Palcic, Dónal, and Eoin Reeves. "State-owned enterprise sector, 2020." Administration 69, no. 1 (February 1, 2021): 85–95. http://dx.doi.org/10.2478/admin-2021-0007.
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Palcic, Dónal, and Eoin Reeves. "State-owned enterprise sector, 2021." Administration 70, no. 1 (February 1, 2022): 83–96. http://dx.doi.org/10.2478/admin-2022-0007.
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Palcic, Dónal, and Eoin Reeves. "State-owned enterprise sector, 2017." Administration 66, no. 1 (February 1, 2018): 59–68. http://dx.doi.org/10.2478/admin-2018-0007.
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Palcic, Dónal, and Eoin Reeves. "State-owned enterprise sector, 2018." Administration 67, no. 1 (February 1, 2019): 51–58. http://dx.doi.org/10.2478/admin-2019-0007.
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Palcic, Dónal, and Eoin Reeves. "State-owned enterprise sector, 2019." Administration 68, no. 1 (February 1, 2020): 67–79. http://dx.doi.org/10.2478/admin-2020-0007.
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Rahmat Saleh Harahap. "Relationship between the effectiveness of Good Corporate Governance (GCG) policies with the occurrence of corruption cases in the State-Owned Enterprises environment." Journal of Sosial Science 1, no. 3 (July 26, 2020): 78–82. http://dx.doi.org/10.46799/jsss.v1i3.34.
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In the economic system, the role of State-Owned Enterprises is as an implementer of public services, distribution of resources that control the lives of many people, as pioneers/pioneers in the business sector that are not yet desirable by the private sector and as a source of state revenue. This role can be realized if the State-Owned Enterprise in its objectives can implement the principles of Good Corporate Governance (GCG) well. But in reality, it is often difficult to face challenges faced by State-Owned Enterprises managers in implementing good governance. The intervention of State-Owned Enterprises business management with a political-bureaucratic approach that is no different from other government agencies. And at worst there are still a series of corruption cases carried out by the leadership of State-Owned Enterprises to seek personal gain. This is certainly a contradiction with State-Owned Enterprise's governance which is always published. Existing GCG implementation policies are deemed ineffective because they are not adhered to. This illustrates that business governance in ` State-Owned Enterprises itself has not been going well. Improvement in the application of good corporate governance (GCG) must be carried out immediately and the improvement of the GCG ecosystem of the State-Owned Enterprise itself must receive the attention of the government. Synergy is needed with the government's commitment to forcing State-Owned Enterprises to implement GCG in a transparent and accountable manner, with a high level of professionalism and effectiveness.
 Keywords: Good Corporate Governance State-Owned Enterprises Government Implementation
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Wicaksono, Agung Prasetyo Nugroho. "The Effect of Corporate Political Connections on Tax Aggressiveness." Journal of Applied Accounting and Taxation 4, no. 2 (October 30, 2019): 138–43. http://dx.doi.org/10.30871/jaat.v4i2.1438.
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This study examines whether corporate political connections influence tax aggressiveness in state-owned enterprises and private-owned enterprises in Indonesia. The observation period is 2015 to 2017. The population taken is a state-owned enterprise and a non-financial sector private sector business entity with 327 companies with a period of 3 years. Then the determination of the sample using a purposive sampling method used a sample of 148 companies. The results of this study indicate that the existence of political connections in state-owned enterprises and private-owned enterprises has a significant positive effect on tax aggressiveness.
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Nikolić, Nikola, Marin Slobodan, and Milan Šušić. "Performance appraisal and supervision of state-owned enterprises in Bosnia and Herzegovina." Journal of Process Management. New Technologies 8, no. 4 (2020): 77–95. http://dx.doi.org/10.5937/jouproman8-29087.
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Bosnia and Herzegovina has opted for a market economy, which implies the liberalization of prices and trade, as well as the existence of an applicable legal system, including real rights. In order for a market economy to function, it is necessary to ensure macroeconomic stability and consensus on economic policy. A developed financial sector and the absence of significant barriers to entry and exit strengthen the efficiency of the economy. By analyzing the database of financial statements of state-owned companies in Bosnia and Herzegovina, we conclude that they are mostly in poor financial condition. This paper analyzes the structure of the state-owned enterprise sector, and identifies individual enterprises that affect fiscal and macroeconomic performance. State-owned companies do not contribute enough to the growth and stability of the economy, the financial analysis showed. The framework for the management of state-owned enterprises has also been analyzed and we come to the conclusion that the entity and cantonal governments do not perform their ownership function in accordance with the WB / OECD guidelines. Quality governance reforms in state-owned enterprises are needed to encourage transparency and increase the quality of accountability. Achieving a higher level of quality in the state-owned enterprise sector can achieve an increase in total GDP of 3 percent annually.
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Tin, Pham Quang, Pham Kim Ngoc, Nguyen Tran Thuan, and Doan Gia Dung. "Simultaneous Effect of Ownership and Economic Sector on the Performance of Enterprises in Vietnam." International Journal of Economics and Finance 9, no. 11 (October 29, 2017): 223. http://dx.doi.org/10.5539/ijef.v9n11p223.
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This paper examines the differences in the impact of ownership types and economic sectors on the business efficiency of 4,733 enterprises in Vietnam by the year of 2015. By the method of analysis of variance (ANOVA), it is shown that while types of ownership, foreign, state and private ownership, have a significant and different impact on the performance of businesses, the difference in economic sectors does not affect the enterprise efficiency. In addition, when testing simultaneous effect of these factors, some findings are as follows: private-owned enterprises’ efficiency in the manufacturing and service sectors is better than those in agriculture, forestry and fishing sector; conversely, foreign invested enterprises operating in agriculture, forestry and fishing sector own better performance than theirs in manufacturing and service sectors; state-owned enterprises in manufacturing and service sectors is very less efficient than theirs in agriculture, forestry and fishing sector.
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Juang Rambe, Muhammad, Faisal Akbar Nasution, and Mahmul Siregar. "The Position of Subsidiaries State-Owned Enterprises in the Mining Industry Sector in Indonesia's State-Owned Perspective (Study of Subsidiaries in the Structure of a SOES Holding Company in the Mining Sector PT. Indonesia Asahan Aluminum Persero)." International Journal of Research and Review 9, no. 3 (March 16, 2022): 272–83. http://dx.doi.org/10.52403/ijrr.20220331.
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Issues regarding the establishment of a State-Owned Enterprise holding company in the mining sector as well as other sectors in the perspective of the Indonesian state administration will cause legal problems, including the constitutionality of the establishment of a SOES subsidiary, the legal entity status of a SOES subsidiary, the financial status and state assets in a SOES subsidiary, and state control over SOES subsidiaries. This normative legal research uses a statutory approach and then analyzed using qualitative data analysis methods. The position of SOES in the Indonesian economic system is as an implementer of the state's right to control important economic resources and control the lives of many people. The position of the subsidiary in the state-owned mining holding company remains as a State-Owned Enterprise and does not change to an ordinary limited liability company. State control over SOES subsidiaries in the structure of the SOES holding company in the mining sector can still be exercised through the ownership of Series A shares by the Government of the Republic of Indonesia as stated in Article 33 paragraph (2) of the 1945 Constitution of the Republic of Indonesia. Keywords: subsidiary, state-owned enterprises, holding company, Mining, state administration.
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Nguyen, Hai Quang. "Total Factor Productivity Growth of Vietnamese Enterprises by Sector and Region: Evidence from Panel Data Analysis." Economies 9, no. 3 (August 10, 2021): 109. http://dx.doi.org/10.3390/economies9030109.
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Total factor productivity growth (TFPG) is an important indicator evaluating the enterprise development model. The aim of this study is to consider the imbalance between TFPG and enterprises growth patterns of sectors and regions in Vietnam. The results of panel data analysis in 2005–2018 show that the growth of Vietnamese enterprises is mainly due to increased capital, especially in the non-state enterprise sector and in the Red River Delta. Total factor productivity (TFP) was found to be present in the non-state and inward foreign investment sectors during the five years 2014–2018. By comparison, the state-owned enterprise sector fell sharply during the same period. Strong upward increases in TFP were notable in the Northern Midlands and Mountain areas, the Mekong River Delta, and the Southeast, while there was a marked downward trend in the Central Highlands and the Red River Delta, especially marked in the Central Highlands. Thus, the results from this study are a basis to suggest an appropriate policy mix that helps to improve the performance of enterprises in different sectors and regions of Vietnam.
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Smyth, Russell. "Enterprise Bankruptcies and the Restructuring of China's State-Owned Sector." China Information 13, no. 4 (March 1999): 66. http://dx.doi.org/10.1177/0920203x9901300403.
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Daniel Lihardo Sumbayak, Raka, Tony Irawan, and Trias Andati. "Stock Prices Analysis of State-Owned Enterprise and Non-State-Owned Enterprise in Response to Negative Information Period 2017-2019." International Journal of Business and Management 15, no. 6 (May 31, 2020): 204. http://dx.doi.org/10.5539/ijbm.v15n6p204.
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There were bad news affected stock prices, i.e. Fraud and bad financial performance. Fraud on State Owned Enterprises (SOE) listed companies was suspected to have a stronger impact on stock prices compared to Non-SOE issuers. The effect of bad financial performance on Non-SOE issuers was thought to have a stronger impact on stock prices when compared to SOE issuers. This research was conducted on SOE and non-SOE that experienced fraud and bad financial performance from 2017 to 2019. Data analysis was performed with the Google Search Volume Index, Difference Test, and Multiple Linear Regression Analysis. The data from Google Search Volume Index showed that SOE issuers were more searched by the public when compared to Non-SOE issuers in responding to Fraud and bad financial performance. Linear Regression Analysis found that the decline in stock prices of SOE issuers was lower than the Non-SOE issuers in response to Fraud. The decline in stock prices of SOE issuers in response to the bad financial performance in the Property and Finance sectors was lower than the decline in stock prices of Non-SOE issuers. However, the decline in the stock prices of Non-SOE companies in response to the bad financial performance in the Basic Industry sector was lower than the SOE issuers. This could be influenced by SOE stock ownership dominated by the Indonesian government and the existence of a Conservatism Bias.
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LOVINSKA, Ljudmyla, and Andrii MAMYSHEV. "Tasks of state-owned enterprises and their impact on accounting and reporting information." Fìnansi Ukraïni 2021, no. 9 (November 5, 2021): 99–116. http://dx.doi.org/10.33763/finukr2021.09.099.
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The purpose of the article is to establish ways to implement the tasks of public sector entities in ensuring responsibility and accountability of state-owned enterprises, taking into account market conditions and the transition to international financial reporting standards (IFRS) in the context of determining the place and role of accounting information. The research methodology is based on the application of dialectical and systematic approaches to scientific knowledge and general theoretical understanding of the problems of functional and accounting-analytical support for the management of state-owned enterprises in the application of IFRS. The results of the analysis of modern tendencies of the organization and functioning of the state-owned enterprises are covered. The importance of public sector entities in the global dimension, as well as the features of the organization, challenges and tasks of state-owned enterprises in market conditions are shown. It is determined that the main tasks to be performed by state-owned enterprises are : provision of certain state services and specific goods, support of the national economy and strategic interests, doing business in a natural monopoly, as well as support of social goals of the state. The specificity of the tasks of state-owned enterprises and their important place in the state economy through the role of a special agent of the government for the implementation of state policy in a particular area is substantiated. A new look at these processes involves increasing the transparency and accountability of businesses, which is closely linked to improving the quality of accounting data on the activities of state-owned enterprises. Based on the results of the study, the algorithm of decisions on determining, assessing and reviewing the value of a state-owned enterprise based on the expression of its social, economic, environmental and tax impacts has been improved. There is a problem of harmonization of methodological support for the preparation of aggregate reports of the general government sector (GGS), which arises due to the existing differences between different sets of standards for financial reporting of GGS sector entities (International Financial Reporting Standards (IFRS) - for public corporations and National provisions (standards) of accounting in the public sector (NP(S)APS) - for all other entities of the GGS sector).
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Schaffer, Mark E. "The Polish State-Owned Enterprise Sector and the Recession in 1990." Comparative Economic Studies 34, no. 1 (April 1992): 58–85. http://dx.doi.org/10.1057/ces.1992.5.
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Khanna, Sushil. "State-Owned Enterprises in India: Restructuring and Growth." Copenhagen Journal of Asian Studies 30, no. 2 (February 19, 2014): 5–28. http://dx.doi.org/10.22439/cjas.v30i2.4237.
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Economic reforms in India are often hailed as the march of private enterprise, unshackled from bureaucratic control. Though it is true that the Indian growth story is led by private capital, reforms have also unleashed a resurgent public sector in the Indian economy, with a significant contribution to investment and growth in India. This article looks at the political economy of SOE reforms, their partial privatization and restructuring, with enhanced autonomy as the key factors that have shaped a more dynamic SOE sector, at least amongst those controlled by the central government. As India moved to market-based prices and incentives, and better contract enforcements, central government SOEs (CSOEs) have substantially enhanced their profitability, investments and growth. As far as manufacturing SOEs are concerned, their profitability and efficiency is superior to private firms, while the performance of CSOEs in services has been rather poor.
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Li, Tian, and Kang Baek. "A Study on the Differences in Chinese Low-Carbon Enterprise Value by Company Characteristics." Korea International Trade Research Institute 18, no. 3 (June 30, 2022): 111–29. http://dx.doi.org/10.16980/jitc.18.3.202206.111.
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Purpose This study attempted to derive differentiated implications by analyzing the corporate value of low-carbon companies listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange in 2016-2020 according to the characteristics of each industry, equity structure, and stock market. Design/Methodology/Approach The data in this study were taken from A-share companies listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2016 to 2020. Findings The analysis results are as follows. It was found that the existence of a low-carbon company has a positive effect on the increase in firm value, which can be interpreted as supporting the results of previous studies. And, in the analysis of each industry (manufacturing, non-manufacturing), equity structure (state-owned enterprises, non-state-owned enterprises) and each stock market (Shanghai Stock Exchange, Shenzhen Stock Exchange), it was confirmed that the effect of low-carbon enterprise on firm value was more significantly in the manufacturing sector, state-owned enterprises, Shanghai Stock Exchange than in the non-manufacturing sector, non-state-owned enterprises and the Shenzhen Stock Exchange. Research Implications Accordingly, companies must establish a low-carbon, eco-friendly awareness and innovate their corporate management and operating models. The government should exercise a functional advantage and provide platforms and cooperation for companies’ low-carbon conversion.
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Kostecka-Jurczyk, Daria. "Zmiany organizacyjno-prawne przedsiębiorstwa państwowego w okresie Polskiej Rzeczypospolitej Ludowej." Studia nad Autorytaryzmem i Totalitaryzmem 43, no. 4 (December 31, 2021): 117–24. http://dx.doi.org/10.19195/2300-7249.43.4.9.
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In Poland, during the People’s Republic of Poland, the policy of central management of the economy was based on the principles of unity of state power and unity of state property. They constituted the foundation of the state sector and the state economic activity. State-owned enterprises, strongly subordinated to public administration bodies, were the leading form of economic activity. The authoritarian state controlled not only the process of enterprise creation, liquidation and supervision, but also the enterprises’ operational activities. Strong state supervision and lack of responsibility for financial results were the main reasons for their low profitability, which in turn brought about attempts to reform the legal structure of the state-owned enterprises. The aim of the article is to show the legal and organizational changes in state-owned enterprises that are to produce an increase in economic efficiency. Based on the historical-legal method and the grammatical interpretation of the law, it was shown that the reforms undertaken in the field of the organization of state-owned enterprises were not effective.
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Akyuwen, Rory Jeff. "Monopoly of State-Owned Enterprise of Social Justice." Pattimura Law Journal 1, no. 2 (March 1, 2017): 98. http://dx.doi.org/10.47268/palau.v1i2.2016.91.
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The role of the state through BUMN becomes so important when it is formulated in a provision as formulated in Article 33 Paragraph (2) of the 1945 Constitution of the State of the Republic of Indonesia, where the production branches which are important for the State and which affect the livelihood of the public must be controlled by Country. Here it indicates the authority of the State to participate in economic activities through the operation of production branches that can be categorized as important for the State and considered vital and strategic for the interest of the State.This is based on the reasons as formulated in the explanatory section of Article 33 of the 1945 Constitution of the State of the Republic of Indonesia, so that the benefits of the production branches do not fall into the hands of individuals, the State actively takes the role to cultivate it because the production branch is considered important and which control the livelihood of the people for the greatest prosperity of the people. State-Owned Enterprises is formed with the aim of contributing to the development of the national economy in general and the state's revenue in particular; The pursuit of profit; To hold general benefit in the form of providing goods and / or services of high quality and adequate for the fulfillment of the livelihood of the public; Pioneering business activities that have not yet been implemented by the private sector and cooperatives and actively providing guidance and assistance to weak economic entrepreneurs, cooperatives, and communities.SOEs are given the right to monopoly in the economic field which is considered to control the livelihood of many people.
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Akyuwen, Rory Jeff. "Monopoly of State-Owned Enterprise of Social Justice." Pattimura Law Journal 1, no. 2 (March 31, 2017): 98. http://dx.doi.org/10.47268/palau.v1i2.91.
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The role of the state through BUMN becomes so important when it is formulated in a provision as formulated in Article 33 Paragraph (2) of the 1945 Constitution of the State of the Republic of Indonesia, where the production branches which are important for the State and which affect the livelihood of the public must be controlled by Country. Here it indicates the authority of the State to participate in economic activities through the operation of production branches that can be categorized as important for the State and considered vital and strategic for the interest of the State.This is based on the reasons as formulated in the explanatory section of Article 33 of the 1945 Constitution of the State of the Republic of Indonesia, so that the benefits of the production branches do not fall into the hands of individuals, the State actively takes the role to cultivate it because the production branch is considered important and which control the livelihood of the people for the greatest prosperity of the people. State-Owned Enterprises is formed with the aim of contributing to the development of the national economy in general and the state's revenue in particular; The pursuit of profit; To hold general benefit in the form of providing goods and / or services of high quality and adequate for the fulfillment of the livelihood of the public; Pioneering business activities that have not yet been implemented by the private sector and cooperatives and actively providing guidance and assistance to weak economic entrepreneurs, cooperatives, and communities.SOEs are given the right to monopoly in the economic field which is considered to control the livelihood of many people.
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Atahau, Apriani Dorkas Rambu, Robiyanto Robiyanto, and Andrian Dolfriandra Huruta. "Co-Movement of Indonesian State-Owned Enterprise Stocks." Economies 11, no. 2 (February 1, 2023): 46. http://dx.doi.org/10.3390/economies11020046.
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According to portfolio theory, diversifying investment to several stocks with negative correlations may reduce portfolio risk. In contrast, combining stocks with similar movement (co-movement) has no impact on portfolio risk reduction. This study aims to examine state-owned enterprise stock co-movement in Indonesia using orthogonal generalized auto-regressive conditional heteroscedasticity (O-GARCH) to help investors selectively choose stocks in a portfolio to reduce portfolio risks. Saturation sampling was used since all state-owned enterprise stocks listed on the Indonesian Stock Exchange were selected as samples. Based on monthly data from January 2013 to December 2021, the O-GARCH method was able to simplify the covariance matrix of the 17 SOEs. Of 17 SOEs, 11 had co-movement, as indicated by their similar principal components, whereas the remaining 6 stocks had a different principal component. Hence, investment managers or investors should not put the eleven stocks in the same portfolio as they have similar risk factors; instead, they may combine them with the six remaining SOE stocks which have a different co-movement. In addition, when the fiscal deficit is high and unconventional monetary policy is implemented in a crisis period, the SOE stock co-movement is higher. Thus, the SOE stock co-movement also depends on government-related matters and faces slightly different risks compared to its private-sector counterparts. Hence, the regulators formulating the policy on SOE stock holdings may use the results of this study by considering the potential merging of the SOE stocks with a similar stock return co-movement by taking account the timing in relation to fiscal deficit and crisis period.
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Lin, Li-Wen. "Reforming China's State-owned Enterprises: From Structure to People." China Quarterly 229 (February 1, 2017): 107–29. http://dx.doi.org/10.1017/s0305741016001569.
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AbstractThe Chinese Communist Party has recently unveiled its new agenda for state-owned enterprise (SOE) reform. Most attention to date has focused on structural reform through the so-called “mixed ownership” policy. This article is to direct attention to a critically important yet much less analysed item on the SOE reform agenda: the professionalization of the SOE executive personnel. This article provides an empirical study on the managerial elite of China's financial and non-financial SOEs. The findings suggest a politically constrained management approach in the Chinese state-owned sector. Moreover, an innovative analysis of the SOE executive career patterns reveals that the state-controlled banks and industrial SOEs employ divergent human resource management methods. The anatomy of the SOE managerial elite in this article provides a timely evaluation of the recent SOE reform policy and a richer understanding of China's state-owned sector from a comparative capitalism perspective.
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Angreyani, Andi Dewi. "FINANCIAL PERFORMANCE AND EFFECTIVENESS ON DEBT MANAGEMENT IN STATE-OWNED ENTERPRISE PHARMACEUTICAL SECTOR PERIOD 2004 - 2016." JBMI (Jurnal Bisnis, Manajemen, dan Informatika) 14, no. 3 (February 6, 2018): 193–204. http://dx.doi.org/10.26487/jbmi.v14i3.2863.
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This study aims to determine the effect of financial performance, effectiveness, corporate growth on debt management in state-owned enterprises in the pharmaceutical sector period 2004 to 2016.The object of this research is state-owned pharmaceutical company. Financial performance with ROI, ROE and NPM as indicator, effectiveness with CR as indicator and company growth (GROWTH as indicator) is independent variable, while debt management with DAR as indicator. The sampling technique used is purposive sampling with audited financial statement criteria and published from 2004 to 2016 and has a book year ended on 31 December. Earned 39 samples from 3 state-owned enterprises Pharmaceutical Sector.Data analysis techniques using PLS-SEM by testing outer and inner. Data is then processed with SmartPLS 3.0 software.The results obtained are the financial performance and effectiveness have a positive and significant influence on debt management while the growth of the company has no positive and significant influence on the management of debt in state-owned pharmaceutical secktor company. Keywords: Financial Performance, Effectiveness, Corporate Growth Profit Growth, Debt Management.
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Bel, Germà. "The first privatisation policy in Latin America: selling state-owned enterprises in 1948-1950 Puerto Rico." Revista de Historia Económica / Journal of Iberian and Latin American Economic History 29, no. 2 (July 29, 2011): 157–82. http://dx.doi.org/10.1017/s0212610911000115.
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AbstractIn the 1940s, when the governor of Puerto Rico was still appointed by the U.S. president, a large state-owned enterprise (SOE) sector was established. Later, in 1948-1950, the island's first elected government privatised these SOEs. This paper documents both the creation of the SOE sector and its privatisation, and analyses the role played by ideology, political interests and economic concerns in the decision to privatise. Whereas ideological factors might have played a significant role in the building of the SOE sector, the privatisation process was driven by economic factors. In the cement sector, the competing private firm was more efficient and the SOEs in other sectors with no private competitors in the island showed permanent losses.
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ZHANG, CHUNLIN. "RESTRUCTURING THE STATE-OWNED ENTERPRISE SECTOR IN CHINA: EFFORTS, EFFECTS AND REMAINING CHALLENGES." Journal of Restructuring Finance 01, no. 02 (September 2004): 371–400. http://dx.doi.org/10.1142/s0219869x04000299.
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Susanto, Susanto. "Kedudukan Hasil Audit Investigatif Pada Kekayaan Badan Usaha Milik Negara Persero Dalam Hukum Pembuktian Pidana di Indonesia." JURNAL CITA HUKUM 6, no. 1 (June 14, 2018): 139–62. http://dx.doi.org/10.15408/jch.v6i1.8268.
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Abstract:Entering the era of globalization, several state-owned enterprises have improved management, particularly the efficiency of operations in order to be able to face market competition. The improvement measures taken include business restructuring, reduction in the number of employees, implementation of management control systems, and other strategic policies. State-owned enterprises that do not improve management will usually face various difficulties, especially in the financial sector. In the legal process of calculating state losses caused by mistakes of State-Owned Enterprises, an investigative audit is required, because investigative audits can be used to determine whether or not there is a Law Against Acts, mains read and abuse of authority that results in state losses as the majority shareholder in the Owned Enterprise Country. The position of the investigative audit results on State-Owned Enterprises in the Indonesian legal system of proof is; As a statement of the witness, as a proof of letter, as evidence of expert testimony, as evidence of guidance, as evidence of indicated / suspected evidence.Keywords: Investigative Audit, State-Owned Enterprise, Evidence Abstrak:Memasuki era globalisasi, beberapa BUMN telah melakukan perbaikan manajemen, khususnya efisiensi operasi agar mampu menghadapi persaingan pasar. Langkah perbaikan yang dilakukan meliputi restrukturisasi usaha, pengurangan jumlah karyawan, penerapan sistem pengendalian manajemen, dan kebijakan strategis lainnya. BUMN yang tidak melakukan perbaikan manajemen, biasanya akan menghadapi berbagai kesulitan, terutama di bidang finansial. Dalam proses hukum menghitung kerugian negara yang diakibatkan kesalahan Badan Usaha Milik Negara, diperlukan audit investigatif, karena audit investigatif bisa digunakan untuk mengetahui ada atau tidaknya Perbuatan Melawan Hukum, mains read dan penyalahgunaan wewenang yang mengakibatkan adanya kerugian negara selaku pemegang saham mayoritas pada Badan Usaha Milik Negara. Kedudukan hasil audit investigatif pada Badan Usaha Milik Negara dalam sistem hukum pembuktian Indonesia adalah; Sebagai Keterangan Saksi, Sebagai alat bukti surat, Sebagai alat bukti keterangan ahli, Sebagai bukti Petunjuk, Sebagai alat bukti keterangan Terindikasi/Terduga.Kata Kunci: Audit Investigatif, Badan Usaha Milik Negara, Pembuktian
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Simamora, Bachtiar H., Kuspuji C. B. Wicaksono, Harly Toindo, and Rudi Rudi. "Tingkat Keberhasilan Implementasi Enterprise Resources Planning di BUMN Sektor Manufaktur di Indonesia." Binus Business Review 6, no. 2 (August 31, 2015): 184. http://dx.doi.org/10.21512/bbr.v6i2.968.
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Implementation of the Enterprise Resource Planning (ERP) is an investment that does not appear in an organization. Indonesia State-Owned Enterprise, in particular manufacturing sector that have the leeway and autonomy to do ERP investments in supporting the achievement of its vision and mission. The World Economic Forum, put Indonesia on a ranking of 82 among the countries in the world in ICT utilization. This research aimed to test how big the investment that has been implanted in the area of information technology in the manufacturing sector, State-Owned Enterprises and the extent of the investment for the competitiveness of the company as well as its contribution to the wind of change on the manufactures business in Indonesia. This research was conducted to explore the performance of ERP implementation project. ERP implementation success rates seen from aspect of project management, determination of critical elements of urgency and contextual factors. The result is that all independent variables influence significantly to the success of the implementation of ERP of SOE’s manufactures. The greatest contribution to the success of such in sequence is an element of urgency determination of critical factors, a contextual factors, and management of the project.
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Adeosun, Oluyemi Theophilus, Ayodele Ibrahim Shittu, and Stellamaris Ifunanya Aju. "Innovation capabilities of women enterprise in informal settings." Journal of Enterprising Communities: People and Places in the Global Economy 15, no. 1 (January 18, 2021): 96–113. http://dx.doi.org/10.1108/jec-04-2020-0063.
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Purpose This paper aims to explore how women entrepreneurs in informal settings, especially in the fishing sub-sector in rural communities, relate to different dimensions of innovation. Specifically, this paper examines how women entrepreneurs engage in process, managerial and technological innovations. This paper also examines how they fund their business, develop their products across the value chain innovatively and how it influences their business output and welfare. Design/methodology/approach A face-to-face structured interview was administered among 100 women entrepreneurs in the fishing agriculture sub-sector in the Anam community, Anambra East LGA, in Anambra State. The study uses the multiple logistic regression model, descriptive analysis technique and it is quantitative in approach. The research is situated within the Local Innovation Systems and adopts diffusion innovation theory. Findings The study established the following: level of education and learning capabilities are significant predictors of process innovation capabilities among women-owned enterprise in informal settings; level of education, years of fishing experience and learning capabilities are significant predictors of technological innovation capabilities among women-owned enterprise in informal settings; and level of education is the only significant predictor of management innovation capabilities among women-owned enterprise in informal settings. Originality/value This paper focuses attention on the issue of innovation by women who operate in the informal sector of the fishing sub-sector in the agricultural value chain with attention for their productivity and welfare.
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Liu, Tinghua, Fengjuan Kou, Xiao Liu, and Ehsan Elahi. "Cluster Commercial Credit and Total Factor Productivity of the Manufacturing Sector." Sustainability 14, no. 6 (March 18, 2022): 3601. http://dx.doi.org/10.3390/su14063601.
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The study estimates the impact of cluster commercial credit on manufacturing total factor productivity from the perspective of county-level clusters. The data were collected from 1998 to 2015 from the Chinese Industrial Enterprise Database. Various econometrics methods were used to approach the study objectives. The study found that cluster commercial credit can significantly increase the total factor productivity of manufacturing. Through the analysis of the theoretical mechanism, it was found that improving the level of innovation and improving the efficiency of the capital allocation are important ways for cluster commercial credit to positively promote the total factor productivity of the manufacturing sector. The analysis of heterogeneity found that cluster commercial credit promoted the total factor productivity of state-owned enterprises, large-scale enterprises, capital-intensive industries, high-tech industries, and enterprises in coastal areas to a great extent. By constructing a quasi-natural experiment, using the method of multi-period double difference and PSM-DID to solve the problem of cluster commercial credit endogeneity, it passed the parallel trend, placebo, and other tests. Finally, this article further describes the relationship between corporate commercial credit and corporate total factor productivity from the enterprise-to-enterprise level and found that the use of commercial credit by enterprises has a significant and positive role in promoting corporate total factor productivity. The research results of this paper provide a reference for promoting the high-quality development of the country’s economy from the perspective of informal finance.
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Kim, junk. "Reforming the Korean Public Sector: The Use of the Performance Contracting System." Korean Journal of Policy Studies 14 (December 31, 1999): 15–40. http://dx.doi.org/10.52372/kjps14002.
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This paper examines the mechanics of the performance contracting system used in the Korean state-owned enterprise(SOE) sector and studies the impact it had on the SOE performance. The performance contracting system, called 'the Managerial Performance Evaluation System (MPES)' in Korea, is designed to improve the principal-agent setting by formalizing the relationship between the government and government-invested enterprises(GIE) through performance contracts. Just prior to the implementation of the MPES, between 1980 and 1983, the GIE sector received government subsidies totaling 3,544 billion Won or US$4.7 billion. Many accused the government of 'politicizing' operations of SOEs by imposing political objectives on managements. With mounting losses and public outcry concerning inefficient operation of SOEs, the government enacted the 'GIE Management Act' in 1984 in order to 'harden' the GIEs' budget constraint.
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Mao, Ke, and Junxin Huang. "How Does Climate Policy Uncertainty Affect Green Innovation? Evidence from China." International Journal of Environmental Research and Public Health 19, no. 23 (November 26, 2022): 15745. http://dx.doi.org/10.3390/ijerph192315745.
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In response to climate change, governments have adopted various climate policies. However, climate policy uncertainty (CPU) may have important implications for the business sector. Is enterprise green innovation (GI) affected by CPU? This study investigates the impact of CPU on enterprise GI. The China CPU index is created first in this study. It uses panel data from Chinese A-share listed companies in China from 2010 to 2021 to explore the impact of CPU on GI through the fixed effects model, the mediating effects model, and the moderating effects model. The results show that: (1) CPU significantly suppresses GI, according to the findings. (2) CPU inhibits enterprise GI by exacerbating enterprise financing constraints. (3) Government subsidies can mitigate the inhibiting effect of CPU on GI. (4) There is heterogeneity in the negative impact of CPU on enterprise GI, mainly on non-state-owned enterprises. This study suggests several recommendations for coping with CPU in China.
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Ashwell, Douglas. "Turbulent Times at MoneyInc: Effects of Change in the New Zealand Public Sector." Asian Case Research Journal 09, no. 01 (June 2005): 25–35. http://dx.doi.org/10.1142/s0218927505000599.
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The late 1980's saw the New Zealand Government implement a number of radical economic reforms. As part of these reforms, a number of formerly public organisations were transformed into profit-making enterprises. These reforms resulted in large scale redundancies in a number of industries. During this time Rob joined MoneyInc a former publicly owned and operated financial institution, undergoing restructuring to become a State Owned Enterprise. The branch where Rob was employed was suffering from a number of redundancies and staff changes. Although a newcomer to the organisation and its culture, Rob quickly indicated his aspirations to be involved in the sales area of MoneyInc and was offered the job of Sales Officer by the branch management. At the time, this job was held by Mary a well respected and long-time employee of the branch. The manner in which this staff change was made led to a serious interpersonal conflict between Mary and Rob which affected the whole branch. This case can be used to examine issues related to staff job changes, such as trust, organisational culture and conflict management.
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Melnarowicz, Krzysztof. "INTERVENTION OF A FINANCIAL CAPITAL GROUP IN THE CONSTRUCTION INDUSTRY AS AN EXAMPLE OF STATE CAPITALISM." Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie 21, no. 3 (September 30, 2020): 9–25. http://dx.doi.org/10.5604/01.3001.0014.4505.
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This article presents the result of the business case research based on state interventionism realised by the state-owned financial capital group’s investment in a company from the construction industry. It shows how the transaction can have influence on the sector itself benefits , the investment itself, and finally the Polish state. Two main research questions were asked: 1. Does the state intervention in form of the state-owned financial capital group in a private enterprise from the construction industry make sense from the point of view of the state itself and as well as from the sector? 2. What influence the investment might have on the construction industry future? In order to answer to these questions the case study and interview with people participating in the capital group transaction in company from the construction industry was conducted. Finally, it was recommended to investigate more cases of world state interventions in specific industries to examine the purposefulness and effectiveness of this form of state intervention.
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Roni, Hamam, Atim Djazuli, and Djumahir Djumahir. "THE EFFECT OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY OF STATE-OWNED ENTERPRISE IN PROCESSING INDUSTRY SECTOR." JURNAL APLIKASI MANAJEMEN 16, no. 2 (June 1, 2018): 293–99. http://dx.doi.org/10.21776/ub.jam.2018.016.02.12.
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Jakopin, Edvard, and Miladin Kalinić. "Comparative analysis of public enterprise management in the Republic of Serbia." Ekonomija: teorija i praksa 14, no. 2 (2021): 81–100. http://dx.doi.org/10.5937/etp2102081j.
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The results of a comparative study of the effects of state and public enterprise management in transition economies have classified Serbia as a group of countries with inefficient management. Transition countries, members of the EU, achieve better management performance of state-owned enterprises than non-EU countries, due to stronger institutions, efficient state aid rules, as well as greater transparency of budget support. The global pandemic in 2020 and increased health, economic and social risks, in many transition countries have not affected the slowdown of structural reforms in public enterprises, on the contrary, a special focus was directed towards upgrading the mechanisms of management of public enterprises, strengthening the anti-corruption policy, digitalization of state services, etc. The research of the reform balance of the management of large republican public infrastructure enterprises in the Republic of Serbia has shown that the state has major problems in the management of enterprises that are in its portfolio and under its control. Their business poses a permanent budget risk, directly affecting economic growth and key macroeconomic aggregates. Large infrastructure public enterprises have a dominant share in the energy and transport sectors, which affects the business of the entire economy. The balance of their business in the period of economic boom is in increasing discrepancy with the balance of business of the private sector, which clearly indicates the problem of management. The primary reform task in the management of public enterprises is to improve the accountability, transparency and efficiency of their management.
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Hofman, Peter S., Jeremy Moon, and Bin Wu. "Corporate Social Responsibility Under Authoritarian Capitalism: Dynamics and Prospects of State-Led and Society-Driven CSR." Business & Society 56, no. 5 (December 28, 2015): 651–71. http://dx.doi.org/10.1177/0007650315623014.
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This article introduces the concept of corporate social responsibility (CSR) in the seemingly oxymoronic context of Chinese “authoritarian capitalism.” Following an introduction to the emergence of authoritarian capitalism, the article considers the emergence of CSR in China using Matten and Moon’s framework of explaining CSR development in terms both of a business system’s historic institutions and of the impacts of new institutionalism on corporations arising from societal pressures in their global and national environments. We find two forms of CSR in China, reflecting the “multiplexity” of its business system: one in the mainly family-owned small and medium-sized enterprise sector reflecting concern with local reputation, and another in the corporate, mainly state-owned enterprise (SOE) sector, reflecting global and national societal expectations. We investigate the dynamics of CSR in China through the interplay of the global and national societal pressures and mediating and even leading roles played by the State and the Party. We consider the conceptual integrity and practical prospects for “state-led society-driven” CSR and future research opportunities, including those opened up by the three contributing articles to this special issue.
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Hadiyanto, Hadiyanto, Urip Sulistyo, and Noferdiman Noferdiman. "The Graduates' 21st Century Skills Performance at Workplace: A Challenge and Reflection for Universities in Revolution Industry 4.0 Era Hadiyanto." Technium Social Sciences Journal 32 (June 9, 2022): 76–94. http://dx.doi.org/10.47577/tssj.v32i1.6615.
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Revolution industry 4.0 expects universities to endow graduates with 21st-century skills performance at the workplace. The 21-century skills are categorized into Soft Skills, Hard Skills, and Competitiveness (SHC). These skills enable to the promotion of faster institutional enterprise and industrial growth as well as advancement in the economic sector. Therefore, the purpose of this study was to investigate how graduates' SHC performance skills contribute to productivity in the workplace in Indonesia. The survey questionnaire was used to collect data from government institutions and enterprises, including industries. The questionnaires were categorized into three, including Non-state-enterprises, State-Owned enterprises, and government institutions, though out of 500 only 162 were returned. The results showed that graduates’ performance of soft skills, hard skills, competitiveness, and overall SHC were at a medium level. An inferential analysis found that the social science group exhibited better soft skills, competitiveness, and overall SHC performance than the pure science group with no difference in hard skills performance. Graduates from the none-state-enterprises and state-owned enterprises group showed better SHC performance than those working directly for the government. Moreover, none-state-enterprises had a higher SHC performance than graduates from state-owned enterprises. However, there was no correlation between soft graduate skills, competitiveness, and overall SHC performance and graduates’ CGPA. There was a relatively smaller correlation between hard skills performance and graduates’ CGPA. Therefore, university graduates are ill-prepared to meet the SHC performance needed at the workplace. The current Higher education curriculum, though built to emphasize SHC for a decade, did not achieve its purpose to produce quality graduates due to poor implementation.
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KRUFT, ANTON T., and ANDREA SOFROVA. "THE NEED FOR INTERMEDIATE SUPPORT-STRUCTURES FOR ENTREPRENEURSHIP IN TRANSITIONAL ECONOMIES." Journal of Enterprising Culture 05, no. 01 (March 1997): 13–26. http://dx.doi.org/10.1142/s021849589700003x.
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In economies in transition, the newly emerging private sector lacks professional, financial, and economic structure provided by ministries and government agencies to state-owned enterprises. In mature market economies, the small and medium-size enterprise (SME) sector has been acknowledged as being the backbone of the economy. Research on the European Union reveals that the success of entrepreneurship depends on a conducive climate which includes intermediate support structures, such as branch/sectoral organisations, specialised SME research organisations, business advisory centres, innovation centres, employers' organisations, etc. The experience from the economies in transition in Central and Eastern Europe shows that the entrepreneurs suffer from weak support of financial, management, environment and trade services. In order to develop a healthy SME sector, a favourable environment should be created and supporting intermediate structures established. Such support organisations should, in addition, bridge the gap between government agencies and the private sector.
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Wulf, Alexander J. "Participatory legal forms for public enterprises. How a group of affiliated public service organisations can help to overcome legal and institutional obstacles." Journal of Participation and Employee Ownership 3, no. 1 (June 8, 2020): 51–65. http://dx.doi.org/10.1108/jpeo-05-2019-0011.
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PurposeIn some political and economic situations, it may be desirable to have a company that operates with a legal structure that is midway between the two extreme poles of the private sector (i.e. privatisation) and the public sector (i.e. nationalisation). In such situations none of the existing legal forms for private or public enterprises creates the institutional conditions necessary for a profitable, collectively owned enterprise. A possible solution to this problem is the participatory legal form of a group of affiliated public service organisations.Design/methodology/approachTaking a case study on the crisis-beset Berlin Brandenburg Airport Company (BER) as an example, the author examines how the proposed alternative legal form for collective enterprises could have improved the legal and institutional framework of the airport company.FindingsThe problems that arose with Berlin Brandenburg airport had multiple causes. Had the airport company adopted the legal form of a group of affiliated public service enterprises, it might have been better able to deal with many of its problems because the organisational structure would have been more suitable. The case study demonstrates that the improved governance framework offered by a group of affiliated public service enterprises could have reduced the likelihood of the large scale, spectacular failure of the project that occurred.Originality/valueA company that operates as collectively owned property is midway between the two extreme poles of private property and state property. In political and economic situations where such a solution is sought the question arises as to which legal or corporate form will provide the best conditions for successful management. The current lack of suitable available legal forms may be a factor in preventing the number of companies in collective ownership from increasing. The article points towards this gap and introduces the legal form of a group of affiliated public service enterprises, i.e. a collectively owned state consortium of social community interest enterprises.
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Florio, Massimo, Matteo Ferraris, and Daniela Vandone. "Motives of mergers and acquisitions by state-owned enterprises." International Journal of Public Sector Management 31, no. 2 (March 5, 2018): 142–66. http://dx.doi.org/10.1108/ijpsm-02-2017-0050.
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Purpose This paper looks at state-owned enterprises (SOEs) from the angle of the market for corporate control and analyzes in detail the reported rationales of a sample of 355 mergers and acquisition (M&A) deals performed by SOEs as acquirers over the period 2002-2012. The purpose of this paper, after having created a taxonomy of deal motivations, is to empirically test two alternative hypotheses: deviation vs convergence of M&A deal rationales between state-owned and private enterprises. Design/methodology/approach The data set is obtained by combining firm-level information from two sources, Zephyr and Orbis (Bureau Van Dijk). A recursive algorithm is developed to infer the ownership nature of the enterprises at the time the deal took place and then the authors double-checked the identity of the global ultimate owner by visual inspection of all the available information. Motivations are analyzed through a case-by-case analysis and classified into several categories, thereby providing a taxonomy of rationales behind SOE M&As and discussing their differences and similarities relative to private firms. Findings More than 60 percent of the deals performed by SOEs as acquirers are driven by “shareholder value maximization” motives, similarly to private enterprise acquirers. The other 40 percent of deals are almost equally spread among three rationales that specifically relate to the role of modern state capitalism in the economy. “Financial distress” motivation, which is the only one clearly deviating from the objectives of profit maximization typical of private ownership, is far less important than the others. Research limitations/implications The paper does not analyze the case studies in detail. Neither does it correlate the evidence with the quality of corporate governance or the quality of institutions in the country. This would be interesting in order to discover whether the alignment of objectives between public and private enterprises is enhanced by certain features of public sector management, as suggested by the OECD (2015) Guidelines. Practical implications The paper suggests some policy implications in terms of reforms of the corporate governance of the SOEs and accountability of their management against clearly stated public missions. It also calls for the need for citizens to be informed in a transparent way about the rationales of major M&A deals when a SOE is on the acquirer side, and the consistency of such rationales with the mission assigned by governments to the enterprises they own. Finally, it underlines that regulatory concerns raised in many countries by the rise of cross-border SOE M&As are in most of the cases unfounded. Originality/value Existing literature has mainly focused on private corporate M&A deals or has just disregarded the ownership status of the acquiring firm. This paper focuses on the motivations for SOE deals in order to elaborate a taxonomy of SOE deal rationales and to identify the differences and similarities between private corporate firms.
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Kim, Junki. "Korean SOE Sector Reform and Privatization: Changing Managerial Incentive and the Transfer of Control Rights." Korean Journal of Policy Studies 11 (December 31, 1996): 47–69. http://dx.doi.org/10.52372/kjps11004.
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This article examines the current state-owned enterprise (SOE) sector reform programs used in Korea and suggests an alternative course. Although privatization gained considerable momentum, its privatization policy was compromised due to conflicts in its goals. There is a real need to realign the role of the SOE sector in the economy which involves radical restructuring of its present system through the control rights privatization of state monopolies. We argue that the current internal management reform policies designed to affect internal and external incentive of SOE managers are unlikely to succeed due to the politicized nature of the process. This leaves full divestitures of state monopolies as only viable option rather than soft reform measures that are currently being employed.
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Nee, Victor, and Yang Cao. "Market Transition and the Firm: Institutional Change and Income Inequality in Urban China." Management and Organization Review 1, no. 01 (March 2005): 23–56. http://dx.doi.org/10.1111/j.1740-8784.2004.00003.x.
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This paper examines how the rise of a market economy in urban China redefines the rules governing economic activities and affects on earnings inequality. We identify three causal mechanisms linked to institutional change that are transforming the firm's employment practices: the higher marginal productivity of a private enterprise economy relative to state-owned enterprises, competition by firms for skilled and semi-skilled labor following emergence of labor markets and the end of state monopoly on labor allocation, and increased emphasis on merit-based reward systems in firms. Analyses of survey data from urban China show how these three causal mechanisms stemming from the transition to a market economy contribute to new patterns of earnings differentiation that increase income returns to human capital and private-sector entrepreneurship.
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Xiao, Geng. "Nonperforming Debts in Chinese Enterprises: Patterns, Causes, and Implications for Banking Reform." Asian Economic Papers 4, no. 3 (October 2005): 61–113. http://dx.doi.org/10.1162/asep.2005.4.3.61.
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Given the domination of bank financing, nonperforming debts (NPDs) in large Chinese enterprises are a proxy for nonperforming loans (NPLs) in China's major banks. Using a firm-level survey of more than 20,000 large and medium-sized industrial enterprises conducted by the National Bureau of Statistics of China, this paper estimates both the level and ratio of NPDs across ownership type, industry, and region for the period 1995–2002. The results show that NPD ratios have been falling since 2000 as a result of the rapid expansion of better-performing non-state enterprises (NSEs), the improved performance of state-owned enterprises (SOEs), and the exit of poor-performing enterprises (which has been facilitated by asset management companies and other merger and acquisition activities). SOEs, however, are still much more likely than NSEs to generate NPDs. This paper provides useful tools and sector information for assessing enterprise debt risks and draws lessons for banking reform in China.
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Dźwigoł, Henryk, and Oleksii Bezchasnyi. "Controlling in the Process of Managing a Modern Enterprise." Multidisciplinary Aspects of Production Engineering 1, no. 1 (September 1, 2018): 577–85. http://dx.doi.org/10.2478/mape-2018-0073.
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Abstract The aim of the article is the analysis of controlling in relation to the management of a contemporary enterprise. Against this background, the essence and concept of controlling, its classification and importance for the development of the company were presented. The scope of controlling applications in enterprises' operations depends mainly on the needs of management staff and their managerial awareness. The fact that the views concerning him are not unambiguous, they do not have a universal form, equally understood terms and tasks, strictly defined and assigned actions or methods, is of great significance. The area with which controlling is related applies to all areas of the company's operations. Support for business management takes place in the area of the entire organization. Controlling with its instruments reaches everywhere, coordinates management in all company's cells. Presented premises in the scope of organization of controlling in enterprises, allow to state that the smaller enterprise, the more often controlling appears as a linear cell or a group of cells located in the linear hierarchy. In addition, they indicate that the time of implementation of controlling in the case of large enterprises (in this case also state-owned) is longer than in enterprises from the SME sector (most often private), which is mainly related to the reluctant attitude to changes of employees and management of these organizations, and their internal adjustments.
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Muslih, Mochamad, Iis Sugianti, Daulat Freddy Simanjuntak, and Dedi Rianto Rahadi. "The Effect of Information Technology Governance and Enterprise Risk Management on the Performance of State-Owned Enterprises in Non-Public Financial Fields Moderated by Corporate Governance." International Journal of Science and Society 2, no. 4 (October 28, 2020): 446–66. http://dx.doi.org/10.54783/ijsoc.v2i4.230.
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The use of information technology is a necessity and a challenge in this 4th-millennium era. Companies that do not want to use technology that suits their needs will be left behind. The Indonesian government has also required the use of appropriate information technology. The purpose of this study is to evaluate the implementation of the Ministry of SOE Regulation No. Per 02 / MBU / 2013 concerning guidelines for the preparation of information technology management of State-Owned Enterprises (SOE) in the field of non-public finance and the implementation of risk management to SOEs that are moderated by corporate governance. The population in this study is State-Owned Enterprises (SOE) in the financial sector. The research sample of 17 SOEs was sampled with the purposive sampling method. The analysis technique used is multiple linear regression. The results showed that IT Governance does not affect firm performance. ERM significantly influences firm performance. Corporate governance that is proxied by the number of audit committee meetings does not moderate IT governance's influence on firm performance and does not mild ERM's effect on firm performance.
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Ansari, Muhammad Insa. "STATEOWNED ENTERPRISE AND PUBLIC SERVICE OBLIGATION IN THE SECTOR OF OIL AND GAS." Mimbar Hukum - Fakultas Hukum Universitas Gadjah Mada 29, no. 3 (January 12, 2018): 515. http://dx.doi.org/10.22146/jmh.23643.
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AbstractThe 1945 Constitution of the Republic of Indonesia regulates natural recources in its particular article. Then, the Energy Law and the Oil and Gas Law regulate the state’s control of oil and natural gas. In the sectoral regulations of oil and gas, there is a public service obligation (PSO) which must be assumed by the Government and State Owned Enterprises (SOE). Meanwhile, in the SOE Law introduced entity Perum and Persero. Where in Perum entities carrying out public service, while the Persero entity to assume the role for profit. But in practice found a PSO on the oil and gas sector carried by state-run entities Persero. IntisariDalam Undang-Undang Dasar Negara Republik Indonesia 1945 diatur penguasaan negara terhadap sumber daya alam. Kemudian UU Enegi dan UU Minyak dan Gas Bumi mengatur penguasaan negara terhadap minyak dan gas bumi. Dalam pengaturan sektoral di bidang tersebut juga mengatur kewajiban pelayanan umum yang harus diemban oleh pemerintah dan BUMN. Sementara itu dalam UU BUMN diperkenalkan entitas Perusahaan Umum (Perum) dan Perseroan Terbatas (Persero). Dimana entitas Perum mengemban peran pelayanan umum (public service), sementara entitas Persero mengemban peran mencari keuntungan (profit oriented). Namun dalam praktek ditemukan kewajiban pelayanan umum pada sektor minyak dan gas bumi diemban oleh BUMN dengan entitas Persero.
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Nauvaldy, Moch Faizal. "Keabsahan Pembentukan Holding Badan Usaha Milik Negara Minyak dan Gas (BUMN MIGAS)." Jurist-Diction 4, no. 5 (September 1, 2021): 1835. http://dx.doi.org/10.20473/jd.v4i5.29821.
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AbstractA business entity is referred to as a state-owned enterprise due to the State's position as the majority shareholder and as the holder of control over such business entity. Various government efforts in terms of maintaining their position in State-Owned Enterprises (BUMN) are carried out through restructuring or by forming new concepts in the form of holding companies. The concept of holding companies is a new concept that has not yet been regulated in Indonesian positive law. One of them is the government's efforts in developing the business of State-Owned Enterprises (BUMN) in the oil and gas sector. In the formation of oil and gas BUMN holding, this is done through several methods or stages that follow the provisions of positive Indonesian law on limited liability companies. However, not only that, the establishment of the holding of the Oil and Gas State-Owned Enterprises also needs to be reviewed from several other arrangements relating to the fact that there is no specific provision governing the position or process of forming the holding itself. Keywords: Holding; BUMN; Oil and Gas; Participation; Transfer; Transformation.AbstrakSuatu badan usaha disebut sebagai badan usaha milik negara disebabkan adanya kedudukan Negara sebagai pemegang saham mayoritas dan sebagai pemegang kendali atas suatu badan usaha tersebut. Berbagai usaha pemerintah dalam hal mempertahankan kedudukannya pada Badan Usaha Milik Negara (BUMN) dilakukan melalui bentuk restrukturisasi atau dengan membentuk konsep baru berupa holding company. Konsep holding company ini merupakan suatu konsep baru yang hingga saat ini belum terdapat pengaturannya dalam hukum positif Indonesia. Salah satunya yaitu usaha pemerintah dalam pengembangan bisnis Badan Usaha Milik Negara dalam sektor minyak dan gas. Dalam pembentukan holding BUMN Minyak dan Gas ini dilakukan melalui beberapa metode atau tahapan yang mengikuti ketentuan hukum positif Indonesia tentang Perseroan Terbatas. Namun, tidak hanya itu, pembentukan holding BUMN Minyak dan Gas ini juga perlu ditinjau dari beberapa pengaturan lain yang berkaitan dengan mengingat belum adanya ketentuan khusus yang mengatur kedudukan atau proses pembentukan holding itu sendiri. Kata Kunci: Holding; BUMN; Migas; Penyertaan; Pengalihan; Transformasi.
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Canh, Nguyen Thi, and Nguyen Anh Phong. "Effect of Public Investment on Private Investment and Economic Growth: Evidence From Vietnam by Economic Industries." Applied Economics and Finance 5, no. 2 (February 7, 2018): 95. http://dx.doi.org/10.11114/aef.v5i2.2998.
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This study is to assess the impact of public investment on private investment and economic growth in Vietnam based on data from 22 economic industries over a 27-year period (1990-2016) by applying PVAR model combined with GMM. The results show that public investment and state sector investment (including public investment and state-owned enterprise investment for production and business activities) has the same positive impact economic growth in most economic industries in the long term, but state sector investment also creates more growth effects in the short term. Public investment has a cyclical impact on private capital stock (domestic private + FDI capital stock) and FDI investment; it has the effect of boosting domestic private investment, FDI investment in the short and long term. Meanwhile, state-sector investment has decreased the private capital stock in the short term, crowds out domestic private and FDI investments in the short term, and in the long term. Both public investment and state sector investment has the effect of increasing public debt in the long term. Based on these results we have some policy recommendations to increase efficiency of public investment and state sector investment.
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Ghosh, Sudipta, and P. S. Aithal. "Trends in Disinvestment of Government’s Equity: An Explicatory Study of Public Sector Enterprises in India." Revista Review Index Journal of Multidisciplinary 2, no. 3 (September 30, 2022): 01–05. http://dx.doi.org/10.31305/rrijm2022.v02.n03.001.
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A Public Sector Enterprise (PSE) is an enterprise which is owned and proscribed by the Local, or State or Central Govt. In a civic enterprise, the investment is either entirely or partially made by the Govt. Under PSEs, the Central Public Sector Enterprises (CPSEs) occupy an important position in the economy. They were set up to achieve fiscal development, self-support in manufacturing, intemperance equilibrium of expenditure, and controlling the deflationary and inflationary trends. These macro-economic objectives are taken as an instrument for structural change of the nation with equality and social fairness. Disinvestment is a process in which the Govt. equity fund is introverted either in fraction or in totality. The Govt. of India introduced the process of disinvesting its equity shares in Indian PSEs in the fiscal year 1991-92. The prime tenet at the back of disinvestment is to boost prosperity, endorse public partaking at wider scale and to bring improved market answerability. In this backdrop, the present study is an attempt to analyze the trends in disinvestment of Government’s equity in Indian PSEs during the period 1991-92 to 2019-20. For this purpose, secondary information has been sourced from the available yearly reports of the Public Enterprises Survey, Govt. of India. Overall, a low level of disinvestment is observed during the initial years (i.e., up to 2008-09). Thereafter, more or less an increasing trend is observed in actual disinvestment as compared to actual disinvestment in the earlier years. The real proceeds from disinvestment have fluctuated at certain point of time during the period under study. Furthermore, actual receipts from disinvestment are less than that of the budgeted receipts in most of the years under study.
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Ren, Yangjun, Xin Zhang, and Hui Chen. "The Impact of New Energy Enterprises’ Digital Transformation on Their Total Factor Productivity: Empirical Evidence from China." Sustainability 14, no. 21 (October 26, 2022): 13928. http://dx.doi.org/10.3390/su142113928.
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As digital technologies disrupt one sector after another, an increasing number of new energy enterprises are positively embracing digital transformation. However, it remains unclear whether digital transformation drives enterprise total factor productivity. To fill this gap, using a dataset of Chinese A-share listed new energy enterprises from 2009 to 2021, we investigate theimpact of digital transformation on a firm’s total factor productivity. The results show that there is a promoting effect of digital transformation on new energy enterprises’ total factor productivity. The promoting effect is significant only in the state-owned firms and the eastern region. Further, we demonstrate that when a firm has digital transformation, it has a higher operating efficiency, lower cost, and greater innovation power leading to higher total factor productivity. This research elucidates the role of digital transformation in fostering the new energy industry’s growth and provides meaningful suggestions for improving the effectiveness of digital transformation in new energy enterprises.