Monopoly is regulated in the regulation of State-Owned Enterprises (SOEs) as the right to regulate (bestuur) all state resources as mandated by the constitution of Article 33 of the 1945 Constitution ...and also the BUMN Law Number 19 of 2003 where one of them is a company that is an entity a government-owned business in the form of a limited liability company. The capital is divided into wholly or at least 51 percent of the shares owned by the Republic of Indonesia with the main objective of pursuing profit. In the case of SOEs, corporate actions are determined by the direction of state policies in their economy. Problem formulation based on the above background, is monopolistic and de-monopoly practices against SOEs, inconsistency of the government? This research used normative juridical with a quantitative analytical approach and examines literature studies that conclude. The study results showed that corporate action was not doubt or inconsistency in implementing a state monopoly. However, this holding was to increase the capacity and existence of SOEs as agents of development and the state in managing resources related to many people’s lives.
We examine the relation between state residual ownership and bank risk-taking for privatized banks from 45 countries. Applying propensity score matching, we find that privatized banks tend to exhibit ...higher levels of risk-taking post-privatization than their publicly listed non-privatized counterparts. Moreover, partially privatized banks exhibit higher levels of risk-taking than fully privatized banks. We also observe a positive and significant relation between the level of residual state ownership and risk-taking. These findings are consistent with the distorted objectives associated with government control, as suggested by the political benefits of control, and with the soft budget constraint views of state ownership. The distortion can be mitigated by the quality of a country's institutional and regulatory environments. Finally, our results show that the effect of state ownership on risk-taking is more pronounced in countries with a higher dominance of state-owned enterprises, and it was more prevalent during the global financial crisis.
•We study the relation between state ownership and risk-taking in privatized banks.•PSM analysis suggests privatized banks exhibit higher risk-taking after privatization•Partially privatized banks show greater risk-taking than fully privatized banks.•State ownership and risk-taking in privatized banks are positively related.•This relation is shaped by the country's institutional and regulatory environments.
Public-private partnerships are enjoying a global resurgence in popularity, but there is still much confusion around notions of partnership, what can be learned from our history with partnerships, ...and what is new about the partnership forms that are in vogue today. Looking at one particular family of public-private partnerships, the long-term infrastructure contract, this article argues that evaluations thus far point to contradictory results regarding their effectiveness. Despite their continuing popularity with governments, greater care is needed to strengthen future evaluations and conduct such assessments away from the policy cheerleaders.
Homeschooling has skyrocketed in popularity in the United States: in 2019, a record-breaking 2.5 million children were being homeschooled. In 'The Homeschool Choice', Kate Henley Averett provides ...insight into this fascinating phenomenon, exploring the perspectives of parents who have chosen to homeschool their children. Drawing on in-depth interviews, Averett examines the reasons why these parents choose to homeschool, from those who disagree with sex education and LGBT content in schools, to others who want to protect their children's sexual and gender identities. With eye-opening detail, she shows us how homeschooling is a trend being chosen by an increasingly diverse subset of American families, at times in order to empower - or constrain - children's gender and sexuality.
Today's acknowledgement of the multifunctionality of agriculture (MFA) implies the production of new knowledge to integrate different functions at farm level (primary production, environmental ...protection, food safety, etc.). At the same time, agricultural sectors of European countries have recently faced changes in the organisation of their R&D activities, including a trend of commercialisation and privatisation of advisory services for farmers. To assess the consequences of these changes on support for innovations related to MFA, this paper explores the potential of combining two analytical frameworks: an institutional economic approach (IEA) and a sociological network approach (SNA). This potential is illustrated by a historical analysis of advisory services in France and the Netherlands from 1945 until now. This analysis stresses the importance of collective procedures for the accumulation of technical knowledge in agriculture. It also shows that these procedures could not be analysed from a strictly technical perspective. They are the expression of institutional arrangements involving social groups of farmers and the state, and are grounded in national contexts. A historical perspective also enables us to understand better why the privatisation of extension services cannot meet the requirements of support for farm innovations in the MFA context.
The banking system of a country plays a pivotal role in achieving sustainable economic growth in a country. Recent transformations and reforms in the economic policies of the Republic of Uzbekistan ...have led to significant changes in the banking sector. Studying the key factors which contribute to the profitability of commercial banks in Uzbekistan is becoming increasingly important. Thus, this research paper examines the main determinants of banking profitability in the Republic of Uzbekistan. For this, various indicators of the bank's effectiveness, such as specific banking characteristics, as well as macroeconomic determinants, were considered to investigate their influence on the profitability of Uzbek banks. To be more accurate liquidity, capital, size, government ownership, operational expenses, inflation, and gross domestic product (GDP), were included as explanatory variables. In turn, the return on assets (ROA) and the return on equity (ROE) were used as proxy indices of profitability for Uzbek banks. Panel data for the period from 2017 to 2021 have been employed on 32 commercial banks of Uzbekistan. Empirical conclusions have shown that the profit of the bank is largely determined by specific factors affecting its activities. The regression results have shown that government ownership and operating costs have negative and statistically significant relationship with the profitability of a bank. Surprisingly, GDP growth rate is negatively associated with ROE and ROA of commercial banks in Uzbekistan. Inflation and liquidity rates were found to have positive relationship with ROE. Other internal determinants, such as capital, and size have shown statistically insignificant impact on the bank's profitability.
We conduct a national survey of US local governments and find service outcomes - quality, cost savings and efficiency - are the primary drivers of re-municipalization, not political pressures. ...Logistic regression of 2,187 governments finds larger, urban and suburban, professionally managed local governments with more service capacity are more likely to report re-municipalization. Fiscal stress perception, local debt, and unionization rates have no effect. Re-municipalization is more likely in governments that also study privatization and conduct activities to ensure successful contracting. Thus, re-municipalization in the US is a pragmatic process of contract management, not primarily driven by political interests.
We investigate how upstream privatization affects downstream R&D investments and social welfare in a vertically-related industry with an upstream monopolistic firm and two downstream firms. One of ...the downstream firms can undertake R&D investments to reduce input coefficient. We examine two cases: private upstream monopoly versus public upstream monopoly, and show that the presence of a public upstream firm might reduce the downstream firm's motivation to invest in R&D. Compared to upstream nationalization, upstream privatization could lead to higher consumer surplus and social welfare, especially when the R&D process is significantly efficient. We further extend our analysis in three directions to show the implications of technology spillovers, upstream competition and downstream R&D competition. We show that our main results hold with the presence of technology spillovers, and under a successive Cournot oligopoly involving two upstream firms. When there is downstream R&D competition, upstream privatization always hurts consumers and social welfare. Our study yields valuable insights for privatization policies.
•We investigate how upstream privatization affects downstream R&D and social welfare in a vertically-related industry.•We find that privatization of the upstream monopolist helps to increase innovation in the downstream market.•Upstream privatization may benefit consumers and social welfare when R&D process is significantly efficient.•Our main findings hold with technology spillovers, and under a successive Cournot oligopoly involving two upstream firms.•However, when considering downstream R&D competition, privatization of the upstream monopolist reduces welfare.
