Form Of Limited Liability Company Research Articles

Diversity in banking and new firm formation. Insights from the Italian local credit markets

This paper empirically investigates the role of bank structural characteristics on firms' creation in the Italian local credit markets from 2009 to 2020. By departing from the existing research, our analysis takes the perspective of the so-called “biodiversity argument” in banking (Ayadi et al., 2009, 2010). As this viewpoint echoes insights from the ecological sciences, we measure bank diversity by retrieving two “biodiversity” indexes: the Gini-Simpson index and, for robustness, the Shannon index. Our results suggest that the coexistence of different institutional models in the banking landscape benefits the formation of new firms – especially those taking the legal form of limited liability companies, as innovative start-ups. We also find that, at the outbreak of the COVID-19 crisis, bank diversity might have mitigated the adverse effects of the pandemic turmoil. Our policy recommendation is that authorities design regulations to encourage institutional variety in the banking market.

Corporate Social Responsibility and Cooperatives Business Sustainability in Indonesia: Legal Perspective

Corporate social responsibility (CSR) is the company’s contribution to sustainable development. In Indonesia, CSR is generally implemented by large companies in the form of limited liability companies (LLCs) and state-owned enterprises (SOEs). Regulations do not accommodate other forms of companies, such as cooperatives, to perform such social responsibility, which in terms of cooperatives is known as cooperative social responsibility (CoopSR). Instead, the cooperatives are only viewed as the implementing object by the LLCs and SOEs, while not encouraged to perform their social and environmental responsibilities. This article uses a legal dogmatic analysis research method, with the aim to analyze and assess the prevailing regulations concerning CSR and cooperatives. The study shows that, in Indonesia, there are no comprehensive regulations on CSR, but they are spread across various regulations incompletely based on the type of business entity. In the Indonesian Cooperative Law, there is no provision concerning cooperative values and principles on concern for the community, therefore cooperatives are not encouraged to implement CoopSR. To implement CoopSR, the legal and policy strategy needed is through the amendment to the Indonesian Cooperative Law, including CoopSR in the cooperatives’ articles of association and by-laws, and discussing and agreeing to its implementation at the meeting of cooperatives’ members.

Can business judgment rule be a justification reason in corruption cases in state-owned enterprises in the form of limited liability companies?

This study aims to obtain a scientific, legal construction regarding the position of the business judgment rule in cases of corruption in a State-Owned Enterprise in the form of a Limited Liability Company. This research is normative legal and uses qualitative methods to produce descriptive data. The documents used are secondary data in the form of primary legal materials and secondary legal materials published in the public domain. The findings of this study conclude that efforts are needed to harmonize the business judgment rule doctrine with the Indonesian legal system and criminal law. The Government of Indonesia and the Legislative Body to make a derivative of Law Number 40 of 2007 concerning Limited Liability Companies or Undang-Undang Nomor 40 Tahun 2007 tentang Perseroan Terbatas (UUPT No.40/2007) which regulates more clearly and in detail related to the business judgment rule and its derivatives so that there is a sense of justice and legal certainty and legal protection for stakeholders, law enforcers and directors. Thus, the Directors of State-Owned Enterprise s(SOE) or Badan Usaha Milik Negara Pesero (BUMN) in running the company have accountability rules related to business decisions made to optimize the company's performance achievements, which in turn can have a positive impact on the Indonesian economy.

Urgensi Legalitas Pelaksanaan Lelang Online Melalui Media Sosial Instagram

The implementation of auctions through Instagram social media often does not provide legal certainty for the parties participating in the auction because many in its implementation are not in accordance with the regulation of the Minister of Finance Number 213/PMK.06/2020 concerning auction implemention guidelines. So that in its implementation can cause disadvantage for the parties carrying out the auction.
 The research used descriptive analytical juridical normative method. Primary data and secondary data were obtained from library research and field research.
 The result of the research shows that the legal status of the Instagram account @usedbapeofficial was not an official auction house because it did not meet the requirements as an auction house, which should be in the form of limited liability company and obtaining permission form the Minister. Legal certainty for the owner of the goods has been carried out by @usedbapeofficial in the form of the payment proceeds being transferred to only one account, namely Kenneth Lee’s account as the account owner but does not provide legal certainty regarding when the owner of the goods will receive payment for the goods he auctions, legal certainty for the auction winner has been provides in the form of information that is listed in accordance with the format filled in by the owner of the goods. Legal protection for the owner of the goods is given in the form of holding funds in the @usedbapeofficial account until the goods are received by the buyer, while for the auction winner the legal protection is in the form of preventive and repressive legal protection.
 The conclusion of this research is the legal status of Instagram account @usedbapeofficial is not an official auction house. Legal certainty for the owner of the goods and the auction winner has not been fulfilled because most of the implementation of the auction on the Instagram account @usedbapeofficial do not comply with the provisions in the regulations of the Minister of Finance Number 213/PMK.06/2020 concerning auction implementation guidelines. Legal protection for the owner of the goods provided by @usedbapeofficial in the form of money auction sales is accommodated in one account, while legal protection for the auction winner has not been fully fulfilled because in its implementation legal protection is not provided by @usedbapeofficial in full to the injured party. It is recommended to @usedbapeofficial to improve the auction procedure into a buying and selling account with an auction mechanism and register its business as a Limited Liability Company, it is suggested to the government to update the regulations governing auction activities through social media, especially Instagram.

LEGAL REGULATION AUTHORITY TO GRANT PERMITS ON THE VENTURE CAPITAL COMPANY

The authority to grant permits to venture capital companies has a dualism of authority. The Financial Services Authority and the Ministry of Finance both have the authority to give licenses to venture capital companies. It can be seen that there are overlaps or conflicts of authority in this case institutional or legal institutions are authorized to give permission to venture capital companies. A norm of conflict over the authority of granting permission to venture capital companies, namely the Minister of Finance Regulation No. 18 / PMK.010 / 2012 concerning Venture Capital Companies (VCC) in Article 11 paragraph (1) VCCs are established in the form of limited liability companies or cooperatives, Article 12 paragraph (1) Legal entities as referred to Article 11 paragraph (1) the which carry out activities as VCC must first obtain a business permit from the Minister. Whereas the Financial Services Authority (FSA) Regulation No. 34 / POJK.05 / 2015 Concerning Business Licensing and Institutional Venture Capital Companies, in article 3 Paragraph (1) Every party conducting business activities for VCC or Sharia VCC must obtain a business license from the FSA. On the one hand the Ministry of Finance has the authority to issue a Venture Capital Company permit, but on the other hand the Financial Services Authority is also authorized to issue a Venture Capital Company permit. It is understandable that the position of state institutions and / or institutions of the Ministry of Finance with the Financial Services Authority is equal, in this case the same law was born, namely Law Number 39 of 2008 concerning the State Ministry and Law No. 21 of 2011 concerning Institutions Financial Services Authority.

Представление долей участников обществ с ограниченной ответственностью в индивидуальной и консолидированной финансовой отчетности по МСФО

Th e relevance of the topic is due to the predominance of commercial organizations in the Russian Federation in the form of limited liability companies (LLC) and their presence among organizations that make up the individual and consolidated fi nancial statements in accordance with IFRS. Th e article discusses the legal aspects of the company’s relations with its participants, including the sole participant. Th e requirements of IFRS for the classifi cation of interests of participants with an exit right (as puttable instruments) as equity instruments or fi nancial liabilities in the separate and consolidated fi nancial statements of an LLC and its participant are analyzed.

Community Participation in Maintenance of Environment Corporate Social Responsibility (CSR) PT. Pegadaian Region X Bandung


 
 
 This research has produced a model of three-pillar cooperation between government - private - community in the implementation of an activity for development. The government as a regulator issues development programs that aim to improve the welfare of the community, including development in the environmental field. Sustainable environment has an impact on comfort and public health. Not all of these programs are covered by the government due to government budget constraints. Therefore, in order for programs to be implemented it is necessary to have cooperation with the private sector, especially business entities in the form of limited liability companies, as stated in Law no. 40/2007 concerning Limited Liability Company article 74. In this case utilizing funds from a corporate social responsibility (CSR) program. Companies in the form of State-Owned Enterprises (BUMN) put them in the Partnership and Community Development Program (PKBL), including PT. Pegadaian. The statement of the problem in this study is that the need for community participation in environmental preservation. The study used qualitative methods with in-depth interview and observation data collection techniques. Data triangulation is used to complement data analysis. PT. Pegadaian Region X in the Pungkur Region realized the Environmental Development program in the environment in the Balonggede Sub-District of Regol Sub-District in 2016, namely planting ornamental plants in pots (red shoots) along the sidewalks of the Pungkur road and the Dalem Kaum road for approximately 80 units. After being handed over to the government of the Balonggede Village, its maintenance is the responsibility of the Balonggede Village by involving the surrounding community, especially the people who are close to or in contact with the object. The diversity of people's treatment of plants reflects different perceptions resulting in plants that are not in uniform growth conditions, some are well maintained and grow well, and some are in poor growth conditions. This shows a lack of ownership of public facilities, thus indicating a low level of community participation in environmental preservation, especially environmental facilities as asistance of PT. Pegadaian Region X.
 
 

Impact of Cost Control on Business Efficiency of Small and Medium Sized Enterprises in Thai Binh, Vietnam

This study is conducted for investigating the impact of cost control on business efficiency of small and medium-sized enterprises (SMEs) in the area of Thai Binh, Vietnam for the period from 2012 to 2014. Impacting factors were built and verified on business efficiency of SMEs including (i) Cost of goods sold ratio, (ii) Financial expense ratio, (iii) Administration expense ratio, (iv) Firm size, (v) Financial leverage, (vi) Assets structure, and on Pre-tax return on sales ratio and Pre-tax return on assets ratio. The study employed regression models of OLS, FEM, REM and GLS with multi-year dataset of SMEs in Thai Binh province. The results show that the ratios of cost of goods sold, financial leverage, and administration expenses have negative relation with business efficiency, but affecting Return on sales (ROS) and Return on assets (ROA). In addition, financial leverage, assets structure and firm size have small impacts on ROS and ROA. Also, basing on the findings, SMEs operating in the form of joint stock company have higher business efficiency than those operating in the form of limited liability company.

TINJAUAN YURIDIS BENTUK USAHA TETAP PENYEDIA LAYANAN APLIKASI DAN KONTEN BERBASIS INTERNET DI INDONESIA

Permanent establishment is an expansion of foreign corporations which cannot perform any legal act in Indonesia. For that reason, it cannot be created into a corporation. Foreign corporations providing online application or internet-based content perform virtually their activities of their operation in Indonesia. The legalisation of permanent establishment created by foreign corporations is ruled in ministerial circular letter of the Ministry of Information and Communication no. 3 of 2016. One of the matters ruled in Presidential Decree no. 44 of 2016 is business field of information and communication. It is categorised into business field with certain requirements. Eventually, the regulation allows them to invest and form a corporation in Indonesia. Additionally, this regulation is created in order to keep everything in order and benefit from foreign corporations' investments in Indonesia. The method used in this study is normative method with three approaches: statute approach, case study approach, and conceptual approach. The result of this study shows that business field providing online application or internet-based content mentioned in ministerial circular letter of the Ministry of Information and Communication no. 3 of 2016 can be categorised into information and communication technology sector as also mentioned in Presidential Decree no. 44 of 2016 which regulates lists of open business field and closed business field with certain requirements. According to the regulation, permanent establishment formed by foreign corporations in Indonesia must be in the form of limited liability company.

The analysis of the business registration reform and the situation of small and medium sized enterprises in the Republic of Srpska

The largest number of companies in the Republic of Srpska falls into the category of small and medium-sized enterprises (SMEs) and most of them are organized in the form of limited liability companies, usually with the prescribed minimum share capital. The economic sector and its actors still face many difficulties and obstacles in their functioning. Unfavourable business environment is characterized by high operating costs caused by high taxes and contributions, a number of fiscal and parafiscal charges, various fees, bureaucracy, unfavorable loans, debt collection dispute, smuggling, illegal work, corruption... The aim of this paper is to analyze the effects of the reforms made in the field of business registration, such as the introduction of one-stop business registration system and the exemption from judicial and administrative fees during the first registration, as well as their impact on improving the overall business environment in the Republic of Srpska.

Liberalization Policy of Foreign Investment in Indonesian Banking: A Juridical Review

The purpose this study to analyze how of liberalization Policies of foreign investment in banking sector, based on Act Number. 25 of 2007 concerning Investment and Act Number 10 of 1998 concerning Banking. The research method used in the normative legal research with normative qualitative analysis. The results reveal that foreign investment in the banking sector can only be applied to commercial banks, but for the rural bank foreign investment is not allowed. Foreign investment in the banking sector can only be applied to commercial banks in the form of limited liability company. Commercial Bank as a limited liability company, its shares can only be issued in the form of shares in the name. Foreign investors in the banking sector conducted by: a. having shares when such company is established; b. purchasing the shares; and c. any other way pursuant to the rules of law. Indonesian citizens, foreign nationals, Indonesian legal entities, and / or foreign legal entities may purchase shares of Commercial Bank, directly and or through the stock exchange. According to the Presidential Regulation Number 77 of 2007 limit on foreign equity ownership in the banking sector, the maximum 99%.

Analisis PPN Membangun Sendiri untuk Pengusaha Kena Pajak di Indonesia

Value-Added Tax (VAT) imposition on self build activity will be distinguished if it is provided by using contractor service. As the result, different VAT treatment on both transactions above has implication to whole company‘s profit. In fact, the implementation of this regulation was ineffective because Taxable Firm will easily run away from such disadvantageous regulation. This paper focuses on comparison between VAT imposition to Taxable Firm in the form of limited liability company for self build activity and equal treatment to buildingconstruction provided by contractor. In fact, from comparative and descriptive researches, it is found that equal treatment on VAT imposition for self construction by Taxable Firm will not reduce income tax earnings compared with using contractor service. On the contrary, VAT imposition for self build activity by Taxable Firm in the form of Limited Liability Company becomes ineffective. In the other sides, because VAT in by means of selfbuild activity that can not be credited it has implication to inefficiency that in turn will not conducive to business climates.