Number Of Business Units Research Articles

Analisis determinasi pajak daerah dan hubungan dengan pertumbuhan ekonomi Kabupaten Muaro Jambi

The study aims to analyze the factors that influence local tax revenues and the relationship between economic growth and local tax revenues in Muaro Jambi Regency. The data used are secondary data sourced from the Muaro Jambi Regency Central Bureau of Statistics and the Muaro Jambi District Revenue Service. Data analysis used multiple regression models and Pearson correlation. The results of the analysis found: 1) simultaneously and partially, the regional tax revenue of Muaro Jambi Regency was influenced by the number of business units, per capita income and the number of taxpayers; 2) there is a significant positive relationship between economic growth and local tax revenues in Muaro Jambi Regency.

LITHUANIAN MARITIME SECTOR’S ECONOMIC IMPACT EVALUATION: METHODS AND COMPARATIVE ANALYSIS

This article analyses the Maritime Sector economic growth impact on Lithuania’s economy from two different maritime sectors structuring methods perspective: European and National. There is presented comparative analysis of the main economic data, counting by following different periods of Maritime sector development in absolute and comparative means. The article presents empirical study of the most important economic evaluation results of Lithuanian Maritime Sector statistical entity indicators: number of business units (companies), number of employees, turnover, gross operating profit, value added at factor costs and investments in tangible fixed assets. Although many of the research concerning Maritime sectors were conducted by the European Council organizations and consultant agencies, especially including Scandinavian ones, Lithuanian Maritime sector economic impact on the parameters which are presented here, statistically were not followed by the different time periods. The permanent analysis of the Lithuanian Maritime sector economic evaluation is important for the country’s Maritime sector’s enterprises strategic linkages forwards to the agglomerated and geographically concentrated sectorial alliances, called as clusters. It can be assumed that the Maritime sector’s economic data comparison ensures a more sustainable sector development, the new quality of the activities, combining the ability to compete on lower prices or innovation. DOI: http://dx.doi.org/10.5755/j01.em.19.3.8164

Potensi Klaster Agroindustri Usaha Mikro Kecil dan Menengah di Provinsi Jambi

The purpose of research is to 1). Analyzing the agro-industry group of SMEs that have the potential to be developed as an agro-industry clusters of SMEs in Jambi Province; (2. Analyze the various potentials, opportunities, barriers and challenges in the development of agro-industry SMEs in Jambi Province. The data used consist of primary data and secondary data. Primary data were collected from experts and stakeholders associated with agro-industry and agro-industry businesses. Collecting data using a structured questionnaire and interview. Secondary data sourced from related institutions / organizations at the national, provincial, district and sub-district. To identify and analyze the potential for agro-industry SME cluster development is done with consideration of the number of business units and discussions with the experts to get the cluster potential agro-industry group. Furthermore, to analyze the potential, opportunities, barriers and challenges of development of agro-industry cluster analyzed descriptively based on surveys and direct observation in the agro-industry businesses that have the potential clusters in Jambi Province. . The analysis was done by descriptive against internal and external conditions of SMEs. The results found that there are five groups of agroindustrial SMEs that have the potential to be developed in clusters, namely: industrial tempe / tofu soy: copra industry; industrial crackers, chips, dent and the like; industrial woven from rattan and bamboo instead of wood furniture as well as industry. Furthermore, in terms of business development, SMEs in Jambi Province showed relatively good progress, especially when seen from the development of production volume, revenue / turnover, product selling prices, raw material prices and profits. However, there are major obstacles in the development of the agro-industry is the future of SMEs, especially those related to the availability of raw materials, labor, market share and production equipment. Keywords: cluster,agro-indsutry,business development

Corporate capital allocation: a behavioral perspective

AbstractPrevious research on capital investment has identified a tendency in multibusiness firms toward cross‐subsidization from well‐performing to poorly performing divisions, a phenomenon that has previously been attributed to principal‐agent conflicts between headquarters and divisions (Stein,2003). In this paper, we argue that cross‐subsidization reflects a more general tendency toward even allocation over all divisions in multibusiness firms that is driven, at least in part, by the cognitive tendency to naïvely diversify when making investment decisions (Benartzi and Thaler,2001). We observe that this tendency also leads to partition dependence in which capital allocations vary systematically with the divisions and subdivisions into which the firm is organized or over which capital is allocated. Our first study uses archival data to show that firms' internal capital allocations are biased toward equality over the number of business units into which the firm is partitioned. Two further experimental studies of experienced managers examine whether this bias persists when participants are asked to allocate capital to various divisions of a hypothetical firm. This methodology eliminates the possibility of agency conflicts. Nevertheless, allocations varied systematically with the divisional and subdivisional structure of the firm and with a centralized or decentralized capital allocation manner. Copyright © 2011 John Wiley & Sons, Ltd.

An EFQM‐Rembrandt excellence model based on the theory of displaced ideal

PurposeThis paper aims to propose a new benchmarking framework that uses a series of existing intuitive and analytical methods to systematically capture both objective data and subjective beliefs and preferences from a group of decision makers (DMs).Design/methodology/approachThe proposed framework combines the excellence model developed by the European Foundation for Quality Management with the Rembrandt method, the entropy concept, the weighted‐sum approach, and the theory of the displaced ideal. Hard data and personal judgments are synthesized to evaluate a set of business units (BUs) with two overall performance scores plotted in a four quadrant model.FindingsThe two performance scores are used to benchmark the performance of the BUs in accordance with their Euclidean distance from the “ideal” BU. Quadrants are used to classify the BUs as efficacious, productive ineffectual, proficient unproductive, and inefficacious. The efficacious BUs, referred to as “excellent”, fall in the competency zone and have the shortest Euclidean distance from the ideal BU relative to their peers.Originality/valueThe benchmarking framework presented in this study has some obvious attractive features. First, the generic nature of the framework allows for the subjective and objective evaluation of a finite number of BUs by a group of DMs. Second, the information requirements of the framework are stratified hierarchically allowing DMs to focus on a small area of the large problem. Third, the framework does not dispel subjectivity; it calibrates the subjective weights with the objective weights determined through the entropy concept.

Conceptual Business Service

Service Oriented Architecture (SOA) is gaining acceptance, offering advantages including closer alignment of IT systems with business. Ideally, within large enterprises, capabilities would be used by solutions from a number of business units while matching the detailed requirements of each; this level of interoperability is difficult to achieve. While much of the current activity focuses on technical interoperability we propose that the focus shift to business interoperability as the key consideration to bring clarity to the engineering aspects of technical interoperability. A model-driven architectural approach is presented that views an organization’s business processes as structured assets requiring formalization. A new concept is presented, the conceptual business service (CBS), which provides abstraction through modeling, and promotes building a portfolio of navigable business services at the appropriate level of abstraction and granularity. A method for specifying a CBS is outlined using reference domain meta-data allowing easier service solution recognition among other benefits.

THE CONGLOMERATE DISCOUNT: A NEW EXPLANATION BASED ON CREDIT RISK

We present a simple new explanation for the diversification discount in the valuation of firms. We demonstrate that, ceteris paribus, limited liability of equity holders is sufficient to explain a diversification discount. To derive this result, we use a credit risk model based on the value of the firm's assets. We show that a conglomerate can be regarded as an option on a portfolio of assets. By splitting up the conglomerate, the investor receives a portfolio of options on assets. The conglomerate discount arises because the value of a portfolio of options is always equal to or higher than the value of an option on a portfolio. The magnitude of the conglomerate discount depends on the number of business units and their correlation, as well as their volatility, among other factors.

The Conglomerate Discount: A New Explanation Based on Credit Risk

We present a simple new explanation for the diversification discount in the valuation of firms. We demonstrate that, ceteris paribus, limited liability of equity holders is sufficient to explain a diversification discount. To derive this result, we use a credit risk model based on the value of the firm's assets. We show that a conglomerate can be regarded as an option on a portfolio of assets. By splitting up the conglomerate, the investor receives a portfolio of options on assets. The conglomerate discount arises because the value of a portfolio of options is always equal to or higher than the value of an option on a portfolio. The magnitude of the conglomerate discount depends on the number of business units and their correlation, as well as their volatility, among other factors.

An Agency Analysis of Firm Diversification: The Consequences of Discretionary Cash and Managerial Risk Considerations

Firm diversification is shown to be a function of excess discretionary cash flow and managerial risk considerations. We measure firm diversification using the concentric diversification index. The index is positively related to both the number of business units in the firm and the extent to which the business firm's segments differ. Consequently, the measure provides a proxy for how firm diversification decisions impact the risk of the firm, and the measure is found to be inversely related to both total risk and unsystematic risk. Consistent with the agency arguments of discretionary cash flow, we find the level of excess discretionary funds in the firm to be a significant positive determinant of the level of firm diversification. We also find support for both a wealth transfer hypothesis over low levels of managerial ownership, and a managerial risk aversion hypothesis over high levels of managerial ownership.

A framework for pricing the information products of self-funded corporate information services

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