Enterprise Ownership Research Articles

Maturity Model of Village Owned Enterprise (VOE) as Social Business in Indonesia: Comparative Study of the VOE in The Tourism Sector

Village-owned enterprises (VOEs) are expected to play an important role in promoting local economic growth by leveraging local resources and engaging community participation to foster sustainable development. The Indonesian government has supported the establishment of VOE since 1999; nevertheless, its impact on enhancing village original income and social benefits is still limited. Significant concerns exist over the potential of VOE to function as a social enterprise that promotes profit generation as well as social benefit. This study employs a descriptive comparative methodology to analyze the growth trajectory of VOE as a social enterprise in Indonesia. The study focused on three VOEs, which are VOE Tirta Mandiri, VOE Sumber Sejahtera, and VOE Kembang Kuning. The results of this study showed that VOE evolution as a social enterprise follows five stages: initial, infrastructure, defined, managed, and optimized. There are three dimensions to each stage: the input, which is made up of two variables, such as leadership and village potential; the process, which is made up of three variables, such as efficiency, participation, and innovation; and the outcome, which is made up of three variables, such as profit, social benefits, and resilience. These five levels, three dimensions, and eight variables are the components of the maturity model for VOE as a social enterprise in Indonesia. This maturity model serves as an important lesson for countries in the Global South in fostering sustainable village development.

Delivering Extraordinary Adventure Experiences During the “Chthulucene”: Circular Economy Challenges and Digital Solutions for the Environmentally Conscious Visitor

Adventure tourism offers unique experiences while presenting environmental concerns related to resource consumption and waste generation. Studies integrating circular economy (CE) principles in adventure tourism, particularly in South Africa, are limited. This research investigates the perspectives of managers and owners of adventure Small, Micro, and Medium Enterprises (SMMEs) on challenges hindering the implementation of a CE model and explores how digital technologies can be leveraged to overcome these challenges. The purpose is to gain a deeper understanding of the specific barriers faced by adventure companies in adopting CE principles. The study is rooted in an interpretivist epistemological stance. This study adopts qualitative methodology whereby netnographic tools were used for data collection through 12 online interviews with owners and managers in Mpumalanga. The results present the solutions provided by digital technologies towards advancing resource efficiency in a sustainable and resilient pathway in the adventure tourism industry. By focusing on the perspectives of stakeholders within adventure tourism SMMEs, this research provides valuable insights for a more sustainable and resource-efficient industry in South Africa. The Mpumalanga case study of successful CE implementation and investigation of the environmental impact reduction potential of CE practices in adventure tourism could be beneficial to practitioners and researchers.

Leadership Reconfiguration in State-Acquired Privately Owned Enterprises: A Paradox between Institutional Control and Agency

Leadership Reconfiguration in State-Acquired Privately Owned Enterprises: A Paradox between Institutional Control and Agency

Determination Analysis Of Village Owned Enterprise Sustainability

Research Aims: The purpose of this study is to analyze the effect of improving work quality, increasing income and budget efficiency on the sustainability of Village Owned Enterprise businesses in Borobudur District. The problems that occurred in Village Owned Enterprise which experienced a decline in performance in Borobudur for several years after COVID-19, especially in 2022 and 2023. The decline was due to three main factors, namely the lack of increased expertise, income, and budget management. Design/methodology/approach: The method used in this study is quantitative research using primary data obtained through the distribution of questionnaires to Village Owned Enterprise managers in Borobudur District. The technique is used in collecting samples using the purposive sampling method. The analysis methods used include Validity Test, Reliability, Determination Coefficient, and multiple linear regression with F Test and t Test. Research Findings: The results of this study indicate that improving work quality has a positive effect on business continuity, as well as other variables, increasing income and budget efficiency also have a positive effect on the sustainability of Village Owned Enterprise. Theoretical Contribution/Originality: The contribution of this research is expected to provide input and become a reference for Village Owned Enterprise and the local government and it is hoped that it can be generalized in identifying key factors that influence business sustainability. The limitations of this study are that the data needed for the study are difficult to obtain due to the limited human resources of Village Owned Enterprise, because several Village Owned Enterprise have merged into one with Balkondes.

Research on the Improvement Path of Financing Constraints for Small and Medium-Sized Enterprises Empowered by Digital Transformation

This paper, based on literature related to big data and corporate financing, analyzes and explores the mechanisms and effects of big data technology in alleviating corporate financing constraints. As is known to all, Financing constraints have always been an important factor restricting the development of small and medium-sized enterprises, and digital transformation provides new ideas to alleviate this problem. The current situation of financing constraints is apparently complex and diverse, which is involving multiple aspects such as information asymmetry, limited financing channels, high financing costs, policy and market environment, as well as enterprise ownership and industrial structure.It argues that big data technology, with its powerful data processing and analytical capabilities, effectively reduces information asymmetry, broadens financing channels for enterprises, and significantly lowers the costs of debt and equity financing, thereby alleviating corporate financing constraints. Digital transformation not only enhances the profitability and sustainability of small and medium-sized enterprises but also strengthens investor confidence by improving market transparency and risk management capabilities, providing strong support for corporate financing.

Supply chain performance of Indonesian SMES: The role of digital leadership, supply chain innovation and E-HRM

The purpose of this study is to analyze the relationship between digital leadership variables and supply chain performance, supply chain innovation and supply chain performance and the relationship between electronic human resource management (E-HRM) and supply chain performance. The research method used in this study is a quantitative survey method research design. The technique used in selecting samples in this study is simple random sampling. Data collection in this study was done online by distributing questionnaires through the Google Form platform and obtaining direct responses from respondents. The number of respondents studied was 786 small and medium enterprises (SMEs) owners in Indonesia. The study uses path analysis techniques for data and hypothesis testing. Statistical testing on the path analysis model can be done using the partial least square method. The study uses a Likert scale, which is categorized into five categories: (1) strongly disagree, (2) disagree, (3) neutral, (4) agree, and (5) strongly agree. Data analysis in this study used Smart Partial Least Square (SPLS) software version 3.00. Model evaluation in testing with SPLS consists of two stages, namely, evaluation of the outer model and inner model. The evaluation of the outer model consists of factor loading tests, Average Variance Extracted, cross-loading, Cronbach's alpha, and composite reliability, while the evaluation of the inner model consists of the coefficient of determination (R2), cross-validated redundancy (Q2), Goodness of Fit (GoF), and hypothesis testing. The results of this research analysis are that digital leadership has a positive and significant relationship with supply chain performance, supply chain innovation has a positive and significant relationship with supply chain performance and e-HRM has a positive and significant relationship with supply chain performance. Digital Leadership involves leaders who can drive digital transformation and implement innovative strategies to leverage digital technologies. This involves the ability to understand and leverage technologies such as artificial intelligence, etc. In addition, digital leadership also involves sensitivity to change and the ability to drive innovation, collaboration, and technology adoption across SMEs.

Investigating entrepreneurship driving factors of women-owned SMEs in Pekanbaru

Abstract This highlights the critical role of women-owned small and medium enterprises (SMEs) initiated by the government in improving the economy. This study aimed to analyze the effect of age, marital status, education, number of household members, and entrepreneurial experience on women’s entrepreneurship in Pekanbaru City. To this end, we collected a sample of 75 respondents, including women entrepreneurs from small and medium enterprises (SMEs) owners and non-entrepreneurs. A binary logistic model was used to analyze the proposed relationships. Empirical results suggested that respondent characteristics are essential in influencing women’s decisions in entrepreneurship. In particular, women of young age and experience in business have more significant opportunities. The study also found that women with lower education are likelier to start a business than women with higher education. This study signified a need for entrepreneurship policies responsive to youth so that youth have great potential to open new businesses.

Improving Health Clinic Performance through the Role of Entrepreneurial Leadership and Dynamic Capabilities

This study aims to analyze the effect of entrepreneurial leadership on organizational performance by considering the mediating role of dynamic capability in the context of the digital era. This study employs a quantitative approach utilizing structural equation modeling (SEM) based on Partial Least Squares (PLS). A survey was used to gather data from 385 respondents from top management or owners of Small and Medium Enterprises (SMEs) Healthcare Clinics in Indonesia. Data was processed using SmartPLS software version 3.0. The results showed that entrepreneurial leadership has a positive and significant influence on dynamic capability (path coefficient = 0.777; t-statistic = 26.792; p = 0.000), entrepreneurial leadership has a positive and important impact on organizational performance (path coefficient = 0.306; t-statistic = 5.232; p = 0.000), dynamic capability has a positive and significant influence on organizational performance (path coefficient = 0.510; t-statistic = 8.994; p = 0.000),. In addition, dynamic capability acts as a mediator that strengthens the influence of entrepreneurial leadership on organizational performance, highlighting the importance of adaptation and innovation to face the challenges of the digital era. This study provides insights for clinical SME leaders to develop entrepreneurial leadership skills that can drive the organization's dynamic capabilities and improve performance amid the dynamics of the digital era. This study contributes to the literature on entrepreneurial leadership and dynamic capabilities by highlighting their relationship to organizational performance in the context of SME Clinics in digital transformation.

Applying EXCEL in Preparing Financial Statements of the Central Bengkulu Village Owned Enterprises

Background: The objective of this community service is to improve the ability of BUMDes in preparing financial statements by applying excel. Contribution: The application of excel in the preparation of financial statements will contribute greatly to improve the quality of financial statements presented by BUMDes and have an impact on the effectiveness of decision making which ultimately supports the progress of these BUMDes. Method: The method for this community service are providing counseling on the importance of BUMDes financial reporting quality, provide counseling on effective identification on BUMDes transaction, provide technical guidance on the preparation of BUMDes financial statements using the Excel program, and discussion and Q&A on completely financial statement of BUMDes Results: BUMDes Damar Limo tourist trains and batik production as main business. Transactions that occur in these BUMdes include receipt of capital deposits, purchases of vehicles, equipment, raw materials, merchandise inventory, and supplies, payment of salaries and other costs, and revenue generation. The reports that must be presented include the income statement, statement of financial position, and statement of BUMdes health. Conclusion: The implementation of the Excel Accounting has an impact on presenting higher quality financial statements and managing BUMDes efficiently and professionally

Nexus between green financial management and sustainable competitive advantage: Evidence from Indonesia

With increasing environmental and strategic challenges, achieving sustainable competitive advantage is crucial for businesses. This study aims to examine the impact of strategic risk and green financial management on sustainable competitive advantage, focusing on the mediating role of sustainable business resilience and the moderating effect of government policy. A quantitative approach was utilized, applying the SMART-PLS methodology to analyze data gathered through a survey of 316 small and medium-sized enterprise (SME) owners in Indonesia, selected for their direct involvement in daily operations and strategic decision-making. The response rate was 63.2%, representing various industry sectors. The results indicate that strategic risk significantly enhances sustainable business resilience (β = 0.796 and p-value < 0.01), which is strongly associated with sustainable competitive advantage (β = 0.458 and p-value < 0.01). Green financial management, however, does not significantly impact resilience (β = 0.008 and p-value = 0.89). Both strategic risk and green financial management, nonetheless, indirectly influence competitive advantage through resilience, reflecting partial mediation (β = 0.112, p-value = 0.02 and β = 0.053, p-value = 0.04, respectively). Additionally, government policy strengthens the effect of green financial management on resilience (β = 0.556 and p-value < 0.01). These findings underscore the importance of firms managing strategic risks proactively and providing supportive regulations to encourage sustainable business practices by governments. The study provides practical insights for businesses and policymakers aiming to foster corporate resilience and enhance sustainable competitive positioning.

Innovation Efficiency of Chinese Manufacturing Listed Companies Towards the Development of An Improved Policy Guidelines

This dissertation examines the factors influencing innovation efficiency among Chinese listed manufacturing companies, aiming to develop improved policy guidelines. The study focuses on the impact of enterprise digitalization level and government subsidy intensity on innovation efficiency. The findings indicate that digitalization significantly boosts innovation efficiency, while government subsidies also positively contribute with pronounced effect. Furthermore, the study reveals enterprise ownership and region variations, with enterprise digitalization having a significant impact on innovation efficiency in state-own enterprise but not in non state-owned enterprise, while government subsidies having a significant impact on innovation efficiency in developed provinces but not in non-developed provinces. The results highlight the heterogeneity of these factors across different ownership types and regional development levels. Based on these findings, the thesis recommends that enterprises should enhance their digital transformation efforts and that governments should refine subsidy policies, increase resource investment, and improve the policy environment to jointly promote a comprehensive leap in the industrial value chain and high-quality economic development.

Development Strategy for Village Owned Enterprises: A Case Study in Majalengka Regency, West Jawa Province, Indonesia

Village-Owned organizations (BUMDes) are one of the strategic units in empowering village communities. South Maja BUMDes is one of the BUMDes which has several commercial enterprise units inside it and up to now, it has survived. This studies objectives to determine the internal and outside factors of BUMDes South Maja and to decide the strategic priorities that want to be taken for BUMDes development. The research technique used became quantitative descriptive research via taking 33 respondents. The evaluation finished is a SWOT analysis preceded with the aid of an hobby degree analysis. The effects of the IFE matrix analysis are the primary power in control which does now not involve many human beings, making operations and choice making easier. meanwhile, the principle weak spot is that there may be no era that can facilitate communique among administrators, managers and consumers. The outcomes of the IE matrix show that BUMDes South Maja is in cellular or box which has function presents an outline of the country of BUMDes South Maja which is in a maintain and maintain circumstance.

The influence of marine ecological compensation policy on enterprises’ environmental investment

PurposeThis article investigates the influence of marine ecological compensation policy on enterprises’ environmental investment and explores whether enterprise ownership could impact the said influence.Design/methodology/approachUsing the data of China's A-share listed enterprises for the period 2007–2020, the paper develops a difference-in-differences model and a moderating effect model.FindingsThe outcomes corroborate that the marine ecological compensation policy positively influences enterprises' environmental investment, and the effect is nonlinear. Specifically, the marine ecological compensation policy significantly impacts enterprises with lower and higher environmental investment. The empirical evidence from the moderation model shows that the effect of the policy is more significant on the non-state-owned enterprises’ environmental investment.Research limitations/implicationsThe findings are based on a sample of 559 listed A-share enterprises in China. Additional studies could focus on data from other countries.Practical implicationsBased on the present scenario of Chinese enterprises' environmental investment, the results report that the marine compensation policy needs to be differentiated for firms having different ownership and different levels of environmental investment. The study provides valuable insights for the government to formulate marine ecological compensation policies.Originality/valueMarine ecology increasingly affects the economic development of countries, and the study on the influence of relevant environmental policies is of practical significance. However, most scholars concentrate on the research of environmental regulation, and have little focus on the policy effect of marine environmental compensation. This paper studies how marine ecological compensation policy influences the environmental investment behavior of enterprises, and further analyzes the difference in the policy effect caused by the nature of enterprises’ ownership, which not only fills the gap in this field, but also provides a scientific basis for the formulation and adjustment of marine ecological compensation policy.

Risking established businesses: Does the green capital city encourage sustainable green entrepreneurship pioneering?

In the context of establishing businesses in a new region, neglecting environmental orientation may lead to the omission of crucial motives for entrepreneurs’ migration and the subsequent course of their businesses. This present study aims to investigate the effect of green space quality (GSQ), green campaign (GC), and green attitude (GA) on green entrepreneurship pioneering intention (GEPI). Further, national pride (NP) was added as a moderator. This study utilized a cross-sectional approach using a survey method targeting small and medium-sized enterprise (SME) owners who will be relocated to the new capital city. Partial least square structural equation modeling was employed in the data analysis. The results revealed that GSQ, GC, and GA positively influence GEPI. Also, NP moderates the positive influences of GC and GA on GEPI. Entrepreneurs were motivated to pioneer green entrepreneurship in the new region due to environmental factors. Furthermore, their nationalism reinforces the connection between environmental motivations and the aspirations to undertake such pioneering endeavors. The findings present valuable insights for governments to formulate policies that encourage entrepreneurs to migrate internally and establish new economic nodes. Further, the results demonstrate how nationalism encourages green business pioneering endeavors in an untapped market.

The role of social capital of the Sanur Indigenous Community in the development of the heritage tourism industry on Sanur Beach in Bali, Indonesia

ABSTRACT The tourism industry and social capital are closely linked together, as social capital encompasses the belief and value systems, norms, networks, and solidarity principles of a society. However, there are limited studies on the role of indigenous social capital in supporting the heritage tourism sector, especially in Indonesia. To fill this gap, this study aims to investigate the role of the Sanur Indigenous Community's social capital in the development of heritage tourism on Sanur Beach. The research uses a qualitative descriptive to describe the studied object or subject's condition through credible informant interactions and their understanding of concepts. The study reveals that the Balinese tribal society has two social capital components, including the cognitive dimension in the form of Ngayah and structurally in the community's attachment to traditional institutions, such as Banjar Adat and Traditional Villages in the context of Tri Hita Karana. Although Sanur has transformed into a tourism center, its people still hold onto their traditional values, using social capital to manage and advance the village's tourism potential. The Traditional Village Owned Enterprise (TVOE) and the Sanur Beach Management Agency provide support to Sanur in integrating social, cultural, ecological, and economic aspects into tourism development.

The role of work ethic mediation on the impact between job motivation on performance and knowledge sharing of SMEs in East Java

This study examines the influence of SME performance, knowledge sharing, work motivation, and the work ethic of SME proprietors. This research was conducted on Small and Medium Enterprises in East Java. The study population comprised 293 proprietors of small and medium-sized enterprises (SMEs) employing between 3 and 10 individuals. The participants in the study were owners of small and medium enterprises situated across East Java. Data collection for each variable was performed using questionnaires. Data analysis methodologies utilize descriptive analysis techniques and quantitative data analysis techniques, such as Structural Equation Modeling (SEM) with Partial Least Squares (PLS). The results demonstrated that the mediating effect of work ethics on the relationship between work motivation and company performance was insignificant. The mediating effect of work ethics on the relationship between work motivation and knowledge sharing was substantial. The correlation between work motivation, work ethics, and knowledge sharing was positive and significant; however, the influence of motivation on company performance was not significant. The motivation of employees negatively affects the performance of small and medium-sized enterprises (SMEs) in East Java. This study offers guidance to managers of small and medium enterprises on implementing work ethics to enhance employee motivation, performance, and knowledge sharing.

Utilization of Website and Interface to Help Raise the Brand Identity of Micro, Small and Medium Enterprises Owners

In today's modern era, a website serves as a key aspect of a brand's identity, with ownership often signifying credibility for a business. However, many individuals still struggle to market their brand through a website, often due to complex website designs or limited accessibility. With numerous businesses emerging every year, a brand's identity and uniqueness are essential in standing out from competitors. To address this challenge, a solution has been developed, which is a website builder company that enhances brand identity. This research aims to explore the importance of websites for MSMEs (Micro, Small, and Medium Enterprises) and identify how they can be designed to be effective, focusing on simple interfaces and clear communication of essential information. The data was gathered through quantitative interviews with expert, extreme, and non-expert users. The findings suggest that owning a website is crucial for MSMEs, significantly influencing consumer behavior and that the design should be well-organized, visually appealing, and engaging.

Analisis Kinerja Keuangan Bank Syariah Indonesia Sebelum dan Sesudah Merger Menggunakan Metode Maqashid Shariah Index dan Profitabilitas

Bank Syariah Indonesia was established on February 1,2021. The establishment of Bank Syariah Indonesia was a combination of 3 (three) BUMN Banks (State Owned Enterprises), namely Bank Syariah Mandiri, BNI Syariah, and BRI Syariah. For this reason, the merger of the three banks aims to realize efforts to build an advanced Islamic bank. On the other hand, the progress of an Islamic banking industry is certainly inseparable from the evaluation of the Islamic bank's financial performance. This aims to determine the financial conditions that occurred during a certain period, in which this information is intended for the government, investors and customers of the Islamic bank. So because of this, the authors are interested in measuring the performance of Indonesian Sharia Banks, which can still be said to be new because it is the result of the merger of the three state-owned banks based on the Maqashid Sharia Index and Profitability concept. This research aims to analyze the performance achievements of Bank Syariah Indonesia before and after the merger using the Maqashid Shariah Index and Profitabilta methods and to compare the two performance achievements. The results of the study found that after the Merger, Indonesian Sharia Banks achieved the highest average MSI Performance ratio (Maqashid Syariah Index) and Profitability Performance ratios compared to before the Merger.

Can the precision poverty reduction policy stimulate enterprise total factor productivity?

This research investigates the correlation between targeted poverty reduction policies and the overall efficiency of enterprises, as measured by total factor productivity. This article presents findings from a study conducted between 2017 and 2022, which demonstrate that implementing a precise poverty reduction program may enhance enterprises' total factor productivity. Moreover, the beneficial effects are achieved by reducing financial limitations and enhancing external oversight. Examining many characteristics reveals that the ownership of enterprises and the proportion of female CEOs have varying effects. The findings offer firms a comprehensive comprehension of how adhering to national policies and meeting social duties may substantially help their high-quality growth. Furthermore, these findings provide helpful policy recommendations for enhancing and broadening the successes of poverty elimination, mitigating relative poverty, and fostering rural rejuvenation in the post-poor eradication period.

Formulasi Kebijakan Tata Kelola Perusahaan Yang Baik Bagi Badan Usaha Milik Daerah Dalam Rangka Mitigasi Masalah Hukum

Implementing the principles of good corporate governance is a necessity for Regionally Owned Enterprises. However, this is often overlooked so that many Regional Owned Enterprises are not anticipatory in facing legal problems. Through this article, a formulation for preventing legal problems is offered which includes: 1). Preparation of document and enforcement of a code of ethics; 2). Whistle blowing system guidelines; 3). Anti-Corruption, Collusion and Nepotism guidelines; and 4). Guidelines for public information disclosure. Through these guidelines, it is hoped that the existence of Regional Owned Enterprises can provide benefits to the general public or local communities, regional economic development, and the existence of Regional Owned Enterprises must be based on regional needs and feasibility.