Targeted economic development subsidies do not work as advertised. In fact, the balance of economic theory and empirical evidence suggests that they are more likely to undermine development than to enhance it. Yet policymakers face strong incentives to continue to offer subsidies. Because subsidies are economically costly but politically valuable, they create a situation similar to a prisoner’s dilemma. An interstate compact offers a solution by changing the political payoffs. Importantly, interstate compacts enable policymakers to credibly commit to ending what many already see as a race to the bottom. Ending the mutually destructive subsidy war would allow state and local governments to repurpose up to $95 billion annually to tax relief and other projects with better payoffs.
{"title":"An Interstate Compact to End the Economic Development Subsidy Arms Race","authors":"Michael D. Farren, M. Mitchell","doi":"10.2139/ssrn.3664155","DOIUrl":"https://doi.org/10.2139/ssrn.3664155","url":null,"abstract":"Targeted economic development subsidies do not work as advertised. In fact, the balance of economic theory and empirical evidence suggests that they are more likely to undermine development than to enhance it. Yet policymakers face strong incentives to continue to offer subsidies. Because subsidies are economically costly but politically valuable, they create a situation similar to a prisoner’s dilemma. An interstate compact offers a solution by changing the political payoffs. Importantly, interstate compacts enable policymakers to credibly commit to ending what many already see as a race to the bottom. Ending the mutually destructive subsidy war would allow state and local governments to repurpose up to $95 billion annually to tax relief and other projects with better payoffs.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129922467","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
When contracting with an agent who is a worker of non-contractible quality, a principal considers mechanisms with an informed third party, a manager. To induce the manager to report worker quality truthfully, the principal devises the first-order alignment, an aligned contract based on first-order condition optimality. We show that the mechanism contracting simultaneously with the manager and the agent can dominate the optimal "selling the project" mechanism. This dominance, combined with the manager's information acquisition costs, results in three optimal organizational structures: simultaneous contracting, ex ante contracting, or partial revelation.
{"title":"Organizational Design with Non-Contractible Quality","authors":"S. Yoo","doi":"10.2139/ssrn.3671296","DOIUrl":"https://doi.org/10.2139/ssrn.3671296","url":null,"abstract":"When contracting with an agent who is a worker of non-contractible quality, a principal considers mechanisms with an informed third party, a manager. To induce the manager to report worker quality truthfully, the principal devises the first-order alignment, an aligned contract based on first-order condition optimality. We show that the mechanism contracting simultaneously with the manager and the agent can dominate the optimal \"selling the project\" mechanism. This dominance, combined with the manager's information acquisition costs, results in three optimal organizational structures: simultaneous contracting, ex ante contracting, or partial revelation.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128582772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Due to its technical complexity, the co-production of electricity generation and nuclear weapons, and its high fixed costs, nuclear power is a particularly complex commodity, which poses unusual challenges for state economic (or industrial, defense, innovation etc.) policy. As in other sectors, the question arises here, too, of an adequate division of private and public responsibilities, in other words "competition and planning", taking into account knowledge aspects, incentive structures, transaction costs and a fair distribution of revenues and burdens. The nuclear sector requires an upstream system of a knowledge base, institutional and physical infrastructure (sites, transport, waste storage, etc.) and legal and institutional infrastructure. In this paper we apply the "system good analysis" developed by Beckers et al. (2012) and Gizzi (2016) to the nuclear power sector and identify ideal-typical organizational models for the value-added stages of the so-called nuclear front-end (mining, conversion, enrichment, fuel fabrication), constructing nuclear power plants, decommissioning and long-term storage as well as the respective interfaces between these stages. The main purpose of this overview paper is to assign tasks, rights and duties to organizations ("stakeholders") at the various stages of the value chain and to define the interface problems. We use an institutional economics approach, which focusses on the provisioning decisions and production between public authorities and private actors. In addition to a general overview, we focus on the back-end of the nuclear energy value chain, the decommissioning of facilities and the short- and long-term disposal of radioactive waste.
{"title":"Nuclear Power as a System Good: Organizational Models for Production along the Value-Added Chain","authors":"Ben Wealer, C. von Hirschhausen","doi":"10.2139/ssrn.3661174","DOIUrl":"https://doi.org/10.2139/ssrn.3661174","url":null,"abstract":"Due to its technical complexity, the co-production of electricity generation and nuclear weapons, and its high fixed costs, nuclear power is a particularly complex commodity, which poses unusual challenges for state economic (or industrial, defense, innovation etc.) policy. As in other sectors, the question arises here, too, of an adequate division of private and public responsibilities, in other words \"competition and planning\", taking into account knowledge aspects, incentive structures, transaction costs and a fair distribution of revenues and burdens. The nuclear sector requires an upstream system of a knowledge base, institutional and physical infrastructure (sites, transport, waste storage, etc.) and legal and institutional infrastructure. In this paper we apply the \"system good analysis\" developed by Beckers et al. (2012) and Gizzi (2016) to the nuclear power sector and identify ideal-typical organizational models for the value-added stages of the so-called nuclear front-end (mining, conversion, enrichment, fuel fabrication), constructing nuclear power plants, decommissioning and long-term storage as well as the respective interfaces between these stages. The main purpose of this overview paper is to assign tasks, rights and duties to organizations (\"stakeholders\") at the various stages of the value chain and to define the interface problems. We use an institutional economics approach, which focusses on the provisioning decisions and production between public authorities and private actors. In addition to a general overview, we focus on the back-end of the nuclear energy value chain, the decommissioning of facilities and the short- and long-term disposal of radioactive waste.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133974666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-30DOI: 10.35611/jkt.2020.24.4.34
Jian Li, Sangchun Lee, Ha-Eun Jeong
Purpose – The rapid rise of e-commerce enterprises has led to the development of the logistics industry. At the same time, some enterprises are motivated by the interests to start reducing costs and inputs, which on the contrary leads to low quality of service, thus reducing customer satisfaction. In recent years, vicious competition, violent express delivery and lack of professionalism in the logistics market have led to high annual customer complaint rate, which has resulted in the company losing many loyal customers, but also unable to obtain new customers. Therefore, to pay attention to and understand the psychological needs of customers and improve the quality of logistics distribution service has become a pressing problem for Every express company.
Design/methodology – By analyzing the problems existing in logistics distribution of express companies, this paper explores various factors affecting customer satisfaction and takes consumer sentiment as a mediating variable. Through questionnaires to collect relevant data, put forward hypotheses for empirical analysis, use two different software including SPSS 21.0 and AMOS 21.0 to analyze the information, draw conclusions and make recommendations.
Findings – According to the above research results, the reliability, convenience, efficiency, professional can have a positive impact on customer satisfaction through the mediating effect of their sentiment, convenience and professional on consumer sentiment and satisfaction are more significant.
Originality/value – This paper the establishment of distribution service indicators related to customer satisfaction and empirical analysis can not only enrich and supplement the distribution service quality indicator system studied by the former, but also provide a theoretical basis for future research.
{"title":"Research on the Relationship Between Social Capital and Enterprise Performance in Supply Chain Environment*","authors":"Jian Li, Sangchun Lee, Ha-Eun Jeong","doi":"10.35611/jkt.2020.24.4.34","DOIUrl":"https://doi.org/10.35611/jkt.2020.24.4.34","url":null,"abstract":"Purpose – The rapid rise of e-commerce enterprises has led to the development of the logistics industry. At the same time, some enterprises are motivated by the interests to start reducing costs and inputs, which on the contrary leads to low quality of service, thus reducing customer satisfaction. In recent years, vicious competition, violent express delivery and lack of professionalism in the logistics market have led to high annual customer complaint rate, which has resulted in the company losing many loyal customers, but also unable to obtain new customers. Therefore, to pay attention to and understand the psychological needs of customers and improve the quality of logistics distribution service has become a pressing problem for Every express company.<br><br>Design/methodology – By analyzing the problems existing in logistics distribution of express companies, this paper explores various factors affecting customer satisfaction and takes consumer sentiment as a mediating variable. Through questionnaires to collect relevant data, put forward hypotheses for empirical analysis, use two different software including SPSS 21.0 and AMOS 21.0 to analyze the information, draw conclusions and make recommendations.<br><br>Findings – According to the above research results, the reliability, convenience, efficiency, professional can have a positive impact on customer satisfaction through the mediating effect of their sentiment, convenience and professional on consumer sentiment and satisfaction are more significant. <br><br>Originality/value – This paper the establishment of distribution service indicators related to customer satisfaction and empirical analysis can not only enrich and supplement the distribution service quality indicator system studied by the former, but also provide a theoretical basis for future research.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125052968","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Cryptoeconomic systems are an emerging type of complex systems that are viewed as a way to steer economic systems and organizations through agents coordination and incentives. However, very little is known about the inherent economic flows of such systems. In this paper, in order to provide intuition on the incentive structures, we draw a first sketch of financial streams in cryptoeconomic organizations. We then present a formal stochastic model of revenue-collecting tokens valuation. With the aim to account for the stochastic nature of this revenue, the financial input of such an organization is assumed to follow a geometric Brownian motion.
{"title":"Stochastic Valuation of Revenue-Collecting Tokens in Cryptoeconomic Organizations","authors":"C. Grau","doi":"10.2139/ssrn.3639911","DOIUrl":"https://doi.org/10.2139/ssrn.3639911","url":null,"abstract":"Cryptoeconomic systems are an emerging type of complex systems that are viewed as a way to steer economic systems and organizations through agents coordination and incentives. However, very little is known about the inherent economic flows of such systems. In this paper, in order to provide intuition on the incentive structures, we draw a first sketch of financial streams in cryptoeconomic organizations. We then present a formal stochastic model of revenue-collecting tokens valuation. With the aim to account for the stochastic nature of this revenue, the financial input of such an organization is assumed to follow a geometric Brownian motion.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126756608","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In recent decades, the local, the municipal and the city have emerged as virtuous spaces where development and global integration can finally be achieved in the postcolony. In this chapter, we locate this emergence within a broader history of international attempts to organise and regularise urban life through multi-scalar governance structures. We identify these structures as having developed from a paradigm of direct imperial control over colonial cities, to a moment in which local life came to be organised through national logics, to the present resurgence of the local and municipal in more decentralised and indirect ordering processes. These transformations, which remind us that global governance has always been a hands-on project, have been fuelled by the intensification of the global economic order and the concomitant need to discipline lands, peoples and their fellow non-humans accordingly.
{"title":"Cities, Post-Coloniality and International Law","authors":"L. Eslava, G. Hill","doi":"10.2139/ssrn.3617676","DOIUrl":"https://doi.org/10.2139/ssrn.3617676","url":null,"abstract":"In recent decades, the local, the municipal and the city have emerged as virtuous spaces where development and global integration can finally be achieved in the postcolony. In this chapter, we locate this emergence within a broader history of international attempts to organise and regularise urban life through multi-scalar governance structures. We identify these structures as having developed from a paradigm of direct imperial control over colonial cities, to a moment in which local life came to be organised through national logics, to the present resurgence of the local and municipal in more decentralised and indirect ordering processes. These transformations, which remind us that global governance has always been a hands-on project, have been fuelled by the intensification of the global economic order and the concomitant need to discipline lands, peoples and their fellow non-humans accordingly.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129992674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tanya Lavrova, A. Polyakova, I. Antipov, Lyudmila Krasivskaya
Russian Abstract: Исследования и имеющаяся практика показывают, что существует потребность в росте профессионализма гражданских служащих, которые являются центральным звеном государственной гражданской службы, и освоении ими новых компетенций. В связи с тем, что основным инструментом управления кадровым составом является ФГИС «Единая информационная система управления кадровым составом государственной гражданской службы Российской Федерации» (ФГИС «ЕИСУ КС»), проведена оценка текущей модели кадровой работы с новыми объемами информации на государственной службе и предложены перспективные направления кадровой работы на базе ФГИС «ЕИСУ КС». В основу исследования положены как теоретические разработки, так и практико-ориентированные, базирующиеся на результатах реализации в РАНХиГС при Президенте РФ на базе ВШГУ проекта методического сопровождения работы кадровых подразделений в ФГИС «ЕИСУ КС».
English Abstract: Research and existing practice show that there is a need to increase the professionalism of civil servants, who are the central link in the civil service, and to master new competencies. Due to the fact that the main tool of personnel management is the FSIS "Unified information system for managing the personnel of the state civil service of the Russian Federation" (FSIS "UISU KS"), the current model of personnel work with new volumes of information in the civil service was assessed and promising directions of personnel work on the basis of FGIS "UISU KS". The study is based on both theoretical developments and practice-oriented ones, based on the results of the implementation at the RANEPA under the President of the Russian Federation on the basis of the Higher School of Economics of the project of methodological support for the work of personnel departments in the FSIS "UISU KS".
俄罗斯的Abstract:研究和现有实践表明，需要增加公务员的职业素质，这是公务员服务的核心，并掌握新的职权。由于人力资源管理的主要工具是“俄罗斯联邦公务员统一信息管理系统”，对目前的公务员工作模式进行了评估，并提出了在俄罗斯公务员制度下开展新工作的前景。这项研究的基础是理论研究和实践研究，基于rf总统ranhigs执行的成果，基于在eisu的人力资源部工作的方法跟踪项目。英语Abstract:这是一个关于公民服务专业人士的研究和存在的展览，是谁在文明服务中使用了中心链接，以及大师的新竞争。Due to the fact that the main tool of management is the FSIS统一information system for sts managing the civil service of the state of the sts -俄罗斯联合会(FSIS UISU KS), the战时model of work with new sts - volume of information in the civil service was assessed and promising了方向of work on the, sts - of FGIS UISU KS。”The研究is基于on both theoretical developments and practice - oriented ones,基于on The results of The传达at The RANEPA under The President of The,以俄罗斯Federation on The of The Higher School of Economics of The project of methodological support for The work of departments sts - in The FSIS UISU KS。”
{"title":"Разработка предложений по совершенствованию кадровой работы на государственной гражданской службе, осуществляемой с использованием единой информационной системы (Development of Proposals for Improving Personnel Work in the Civil Service, Carried Out Using a Unified Information System)","authors":"Tanya Lavrova, A. Polyakova, I. Antipov, Lyudmila Krasivskaya","doi":"10.2139/ssrn.3712027","DOIUrl":"https://doi.org/10.2139/ssrn.3712027","url":null,"abstract":"<b>Russian Abstract:</b> Исследования и имеющаяся практика показывают, что существует потребность в росте профессионализма гражданских служащих, которые являются центральным звеном государственной гражданской службы, и освоении ими новых компетенций. В связи с тем, что основным инструментом управления кадровым составом является ФГИС «Единая информационная система управления кадровым составом государственной гражданской службы Российской Федерации» (ФГИС «ЕИСУ КС»), проведена оценка текущей модели кадровой работы с новыми объемами информации на государственной службе и предложены перспективные направления кадровой работы на базе ФГИС «ЕИСУ КС». В основу исследования положены как теоретические разработки, так и практико-ориентированные, базирующиеся на результатах реализации в РАНХиГС при Президенте РФ на базе ВШГУ проекта методического сопровождения работы кадровых подразделений в ФГИС «ЕИСУ КС».<br><br><b>English Abstract:</b> Research and existing practice show that there is a need to increase the professionalism of civil servants, who are the central link in the civil service, and to master new competencies. Due to the fact that the main tool of personnel management is the FSIS \"Unified information system for managing the personnel of the state civil service of the Russian Federation\" (FSIS \"UISU KS\"), the current model of personnel work with new volumes of information in the civil service was assessed and promising directions of personnel work on the basis of FGIS \"UISU KS\". The study is based on both theoretical developments and practice-oriented ones, based on the results of the implementation at the RANEPA under the President of the Russian Federation on the basis of the Higher School of Economics of the project of methodological support for the work of personnel departments in the FSIS \"UISU KS\".","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115045503","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
An incorporated body is the propeller of contemporary business world. It needs resources to run smoothly. With the capability of the company, it can either borrow capital from investor or attracts share investment or receives bank loan. Ultimately, it wants to maximize the profit and the value of the company. However, the issues like net present value, rate of return, inflation coverage, loan amortization capability, break even analysis, and life-cycle of financial planning are required to analyse well in the process of corporate finance. It is all done through the analysis of financial statement of the organization. It means sustainability in each corporate finance issues have been expected. In Nepal, Corporate finance issues are regulated under the Company Act, 2063 BS (2006 AD), Securities Act, 2063 BS (2007 AD), Banks and Financial Institutions Act, 2073 BS (2017 AD) etc. Office of the Company Registrar, Securities Board of Nepal and other regulators like Nepal Rastra Bank, Central Bank of Nepal, regulate the corporate finance status in Nepal to maintain good governances and to secure public confidences over it.
{"title":"Methods of Corporate Finance in Nepal","authors":"S. Acharya, Jyoti Koirala","doi":"10.2139/ssrn.3612637","DOIUrl":"https://doi.org/10.2139/ssrn.3612637","url":null,"abstract":"An incorporated body is the propeller of contemporary business world. It needs resources to run smoothly. With the capability of the company, it can either borrow capital from investor or attracts share investment or receives bank loan. Ultimately, it wants to maximize the profit and the value of the company. However, the issues like net present value, rate of return, inflation coverage, loan amortization capability, break even analysis, and life-cycle of financial planning are required to analyse well in the process of corporate finance. It is all done through the analysis of financial statement of the organization. It means sustainability in each corporate finance issues have been expected. In Nepal, Corporate finance issues are regulated under the Company Act, 2063 BS (2006 AD), Securities Act, 2063 BS (2007 AD), Banks and Financial Institutions Act, 2073 BS (2017 AD) etc. Office of the Company Registrar, Securities Board of Nepal and other regulators like Nepal Rastra Bank, Central Bank of Nepal, regulate the corporate finance status in Nepal to maintain good governances and to secure public confidences over it.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115611244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-05-23DOI: 10.21684/2412-2343-2020-7-2-10-36
E. Gromova
Step by step, new digital technologies are capturing different spheres of our life. The opportunities of their application are almost infinite, and potential is very promising. But digital innovations as a trend represent a challenge for every modern state. Especially for member-countries of the BRICS union who seek to become the world’s leading countries. For this reason, the most important task for the members of BRICS is to create adequate “smart” regulation, which offers alternative ways of regulatory impact on transforming business relations. Using the regulatory sandbox as an experimental legal regime is one of the ways to test the creation, production, and realization of digital innovation. Having been first applied in 2016 in the United Kingdom, nowadays this model is successfully implemented in such countries as Singapore, Australia, and the United Arab Emirates. Member-countries of BRICS are only beginning to adopt this unorthodox tool; in most of its countries the legal framework is ongoing now. The aim of this research is to analyze current legislation and legal framework on the regulatory sandboxes in BRICS countries, define features of national models, difficulties and further prospects of its usage. This research is based on the comparative and formal juridical analysis of legislation, draft laws, and research papers dedicated to regulatory sandboxes in BRICS. The authors identify different barriers and risks of using regulatory sandboxes for the digital innovations successfully and offer some ways to overcome these challenges, including the formulation of guidelines for operating regulatory sandboxes based on a balance of public and private interests. The authors conclude that it is necessary to update legislation on the regulatory sandboxes for reaching positive effect from the digital transformation and make several suggestions for optimization its provisions. The results achieved in research paper can be used both in the lawmaking process as well as the foundation for further scientific researches.
{"title":"Regulatory Sandboxes (Experimental Legal Regimes) for Digital Innovations in BRICS","authors":"E. Gromova","doi":"10.21684/2412-2343-2020-7-2-10-36","DOIUrl":"https://doi.org/10.21684/2412-2343-2020-7-2-10-36","url":null,"abstract":"Step by step, new digital technologies are capturing different spheres of our life. The opportunities of their application are almost infinite, and potential is very promising. But digital innovations as a trend represent a challenge for every modern state. Especially for member-countries of the BRICS union who seek to become the world’s leading countries. For this reason, the most important task for the members of BRICS is to create adequate “smart” regulation, which offers alternative ways of regulatory impact on transforming business relations. Using the regulatory sandbox as an experimental legal regime is one of the ways to test the creation, production, and realization of digital innovation. Having been first applied in 2016 in the United Kingdom, nowadays this model is successfully implemented in such countries as Singapore, Australia, and the United Arab Emirates. Member-countries of BRICS are only beginning to adopt this unorthodox tool; in most of its countries the legal framework is ongoing now. The aim of this research is to analyze current legislation and legal framework on the regulatory sandboxes in BRICS countries, define features of national models, difficulties and further prospects of its usage. This research is based on the comparative and formal juridical analysis of legislation, draft laws, and research papers dedicated to regulatory sandboxes in BRICS. The authors identify different barriers and risks of using regulatory sandboxes for the digital innovations successfully and offer some ways to overcome these challenges, including the formulation of guidelines for operating regulatory sandboxes based on a balance of public and private interests. The authors conclude that it is necessary to update legislation on the regulatory sandboxes for reaching positive effect from the digital transformation and make several suggestions for optimization its provisions. The results achieved in research paper can be used both in the lawmaking process as well as the foundation for further scientific researches.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123060177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-05-01DOI: 10.29259/sijdeb.v4i1.57-72
Muhamad Fathul Muin, A. Wardini
One of the purposes of the establishment of SOEs is to become a source of funding for the state. But unfortunately, the losses and potential bankruptcy is still a business challenge to date. Therefore, the aims of this research to analyze the SOEs’ financial performance and the factors that affected profitability. The analysis method used is panel data regression involving 118 financial data companies in the year of 2012-2016. The variables used consisted of return on assets (ROA), total asset growth (TAG), current ratio (CR), total assets turnover (TATO), and debt to equity ratio (DER). After eliminating the outlier data and use other statistical tests, a fixed-model effect (FEM) was obtained. Based on the analysis result, the effect of TAG, CR, and TATO is positive and significant on the ROA. Meanwhile, the effect of the DER is not significant on ROA. This model is able to explain the variation of the dependent variable of 92,40 percent.
{"title":"Study of State-Owned Enterprises (SOEs) Profitability in Indonesia 2012-2016 Period","authors":"Muhamad Fathul Muin, A. Wardini","doi":"10.29259/sijdeb.v4i1.57-72","DOIUrl":"https://doi.org/10.29259/sijdeb.v4i1.57-72","url":null,"abstract":"One of the purposes of the establishment of SOEs is to become a source of funding for the state. But unfortunately, the losses and potential bankruptcy is still a business challenge to date. Therefore, the aims of this research to analyze the SOEs’ financial performance and the factors that affected profitability. The analysis method used is panel data regression involving 118 financial data companies in the year of 2012-2016. The variables used consisted of return on assets (ROA), total asset growth (TAG), current ratio (CR), total assets turnover (TATO), and debt to equity ratio (DER). After eliminating the outlier data and use other statistical tests, a fixed-model effect (FEM) was obtained. Based on the analysis result, the effect of TAG, CR, and TATO is positive and significant on the ROA. Meanwhile, the effect of the DER is not significant on ROA. This model is able to explain the variation of the dependent variable of 92,40 percent.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128028540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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