Business Regulation Research Articles

A Framework for Blockchain Alignment for Implementing Public Business Registers: A European Perspective

This paper examines the alignment of blockchain architecture with the specific requirements of public business registers in Europe. Through a comprehensive literature review, categorization of blockchain models, and analysis of European public business registry cases, this study develops a framework to guide blockchain adoption in public registries. A distributed ledger taxonomy tailored for business registers is presented. This article also introduces a registry mapping procedure and addresses security concerns essential for the transition to blockchain-based architectures. Blockchain technology, popularized in 2009, has evolved into a versatile tool with applications across various domains, including the public sector, where its potential for decentralized solutions is especially promising. In particular, strategic systems that constitute the backbone of the legal and economic order require special considerations providing superior quality and the appropriate level of security. This study proposes a categorization method, outlines a registry mapping procedure, and discusses security concerns integral to blockchain implementation in public registries. The potential of blockchain technology to change the architecture of public business registries is also discussed.

La debilidad de la inversión empresarial en España tras la pandemia: un análisis basado en la EBAE

Rationale Business investment has been notably weak in Spain in the past few years. This article analyses recent developments in such investment, the limiting factors and the role played by the Next Generation EU (NGEU) funds, drawing on information from a specific module included in the Banco de España Business Activity Survey (EBAE). Takeaways •The largest and most productive firms report greater momentum in their investment decisions, while firms with more idle capacity report less buoyant investment. •The obstacles to investment most often reported by firms are uncertainty over economic policy, the outsourcing of production processes and business regulation. •A total of 45% of firms with NGEU-funded projects stated that they would not have made such investments without the support of this programme, while 31% would only have made a portion of them, suggesting that these funds have a relatively high degree of additivity. However, lower additivity is observed in the case of green investments.

Analyzing the Impact of Over Speeding of the Vehicles in the Society

Over-speeding is a leading cause of business accidents, performing in significant losses and severe injuries worldwide. According to WHO, speed is a contributing factor in roughly 30 of road deaths in high- income countries and nearly 50 in lowand middle- income countries. Controlling vehicle speed is pivotal to precluding crashes and minimizing the inflexibility of injuries. Traditional styles of speed control and business law enforcement are frequently shy in effectively managing and reducing over-speeding incidents. To address this issue, recent studies have explored colorful technological results, similar as the Automatic E-Challan System, IOT- grounded business violation systems, and RF- grounded vehicle discovery. These systems use advanced technologies like detector networks, image processing, and radio frequence to cover business, descry violations, and issue penalties automatically. These approaches aim to enhance enforcement effectiveness, ameliorate business operation, and reduce road accidents. Our exploration focuses on integrating an automated speed discovery system that not only cautions motorists when they exceed speed limits but also contributes to reducing road accidents by administering compliance with business regulations. This result is anticipated to ameliorate road safety by precluding over-speeding and icing timely interventions.

Entry Deregulation, Market Turnover, and Efficiency: China's Business Registration Reform

Abstract Although entry regulations are ubiquitous across countries, comprehensive evaluations on how such regulations affect firm dynamics and productivity are lacking. We examine a 2012-2014 pilot program in Guangdong (which later became a national policy) that was designed to reduce firm registration costs and encourage entrepreneurial activities. Using administrative data on firms' business registrations and annual reports, our analysis shows that the reform increased firm entry by 25% and firm exit by 8.7% in the manufacturing sector. The productivity of post-reform entrants was 1.1% higher than the productivity of pre-reform entrants, likely due to relaxed financial constraints and more intense competition.

Disharmonisasi Pengaturan Pengelolaan Wilayah Izin Usaha Pertambangan Khusus bagi Organisasi Masyarakat Keagamaan di Indonesia

Exploration of mining wealth is an effort to accelerate the economy. Polemics arise when PP 25/2024 and Perpres 76/2024 are juxtaposed with positive law in the form of laws that have a higher hierarchical position. The three religious community organizations that have received WIUPK concession offers are Nahdlatul Ulama, Muhammadiyah, and Persatuan Islam. Mining concessions are often wrapped in political nuances, even allegedly ridden by the interests of certain groups. Leading to a number of controversies that arise, it is interesting to discuss the regulation of special mining business permit areas for religious community organizations in Indonesia and related to efforts to harmonize laws and regulations regarding the management of special mining business permit areas for religious community organizations as a concrete step to realize people's welfare. This research is qualitative and juridical-normative type. The research approach used is conceptual and legislation. The enactment of PP 25/2024 is a responsive effort accommodated by the government regarding the WIUPK arrangement. The issuance of Perpres 76/2024 states that WIUPK is a former PKP2B area that is given priority to religious mass organizations in order to promote community welfare. However, there are a number of risks that the involvement of religious community organizations could potentially result in conflicts of interest and have a negative impact on social and environmental balance. Despite normative controversy, this policy distributes benefits and provides access to natural resources previously controlled by large entities. Concrete steps that can be taken are harmonizing applicable regulations, such as revising the Minerba Law and the Ormas Law, or drafting inclusive and specific implementing regulations. Thus, religious community organizations can understand the technical, economic, and socio-environmental aspects of mining management, and are able to be responsible for realizing people's welfare.

Comparative Analysis of Business Law in Special Economic Zones (SEZ): Case Study of Mandalika Special Economic Zone in Indonesia and International Free Economic Zone (IFEZ) Incheon South Korea

This study aims to analyze the comparative business laws applied in the Mandalika Special Economic Zone (KEK), Indonesia, and the Incheon International Free Economic Zone (IFEZ), South Korea. These two areas were chosen as case studies because they have similar goals in encouraging economic growth through fiscal incentives and more flexible regulations for investors. In this study, the method used is a qualitative approach with comparative descriptive analysis to identify differences and similarities in aspects of business regulations, investment policies, and legal protection for business actors in both areas. The results of the study show that although both areas offer policies that are beneficial to investors, there are significant differences in terms of legal structure, implementation of regulations, and supervision of compliance with the laws applied. The Mandalika Special Economic Zone has policies that focus more on developing tourism and the creative economy sector, while the Incheon IFEZ emphasizes the high-tech sector and the manufacturing industry. In addition, the comparison of taxation policies and fiscal incentives is also an aspect that distinguishes the two areas. This study is expected to contribute to the development of economic policies in Indonesia, especially in the context of managing Special Economic Zones, as well as providing insight for other countries interested in developing similar economic zones.

Navigating serial inequities: the unmet support needs of disabled entrepreneurs

Self-employment provides an important source of income for disabled people, who face multiple barriers in the labour market. Underpinned by Sen’s capability approach, we explore, through interviews and focus groups, the unmet support needs of 37 disabled people identifying as self-employed or entrepreneurs. Participants’ freedom to establish and expand their businesses was constrained by institutional and structural barriers. Disabled entrepreneurs lack accessible tailored guidance on business registration and many rely on support and mentorship from other disabled entrepreneurs. Start-up and growth funding is scarce and complicated by funders’ negative attitudes and difficulties navigating application systems. Securing financial support for reasonable adjustments from the UK Department for Work and Pensions Access to Work service is challenging and often requires peer support, as application guidance and service advisors overlook the complexities of self-employment. Disabled entrepreneurs require accessible and tailored support, information and funding to establish and grow successful businesses.

"It's an Odyssey:" Centering Mexican and Central American Immigrant Entrepreneurs in an Examination of County-Level Sanctuary

Using a comparative case study methodology, this research explores how Mexican and Central American immigrant entrepreneurs in two types of county-level sanctuary contexts (limited and robust) operate their enterprises. Through interviews with 48 small-scale entrepreneurs and 52 organizational contacts facilitated in part through lead local community partners, the study explores entrepreneurs’ perceptions of sanctuary as a factor affecting their business decisions. Self-employment and business registration data from the American Community Survey (ACS) provide context for the narratives. This research suggests that sanctuary policy has an indirect but contributing effect on entrepreneurs’ decision-making and livelihoods. Interviews substantiate the key roles federal and state policy play in shaping the entrepreneurial landscape for immigrants at the county level across sanctuary types. The research illuminates the multi-scalar environment in which immigrant entrepreneurs are embedded and the strategic choices they make with the tools at their disposal. Key recommendations for business ecosystems—including an emphasis on access to driver’s licenses and culturally responsive, multilingual resources—are highlighted. The insights of entrepreneurs deepen understanding of existing theory about immigrant entrepreneurship and the effects of sanctuary policy on immigrant choices.

Champagne fairs in France and modern legal regulation of business in Ukraine: a history lesson for the legislator

The publication is devoted to an interesting historical phenomenon – medieval fairs in the Champagne region in France. These fairs are interesting not only from the point of view of history itself, but also from the point of view of legal regulation of business. Even then, many progressive legal instruments were introduced. It is stated that much of what was taken into account in the Middle Ages, unfortunately, is not taken into account by modern legislation. Thus, the division into merchants and artisans, known for millennia, has an important economic law behind it – manual labor has limitations that, as a rule, trade does not have. A merchant, buying a batch of goods for the purpose of further resale, is limited only by the funds available to him, while an artisan can make only a certain limit number of products per unit of time, and cannot make more of them even with greater capital investments. Although the legislation previously provided for a separate tax on fishing, today both artisans and traders are actually placed in the same conditions, which is neither fair nor economically expedient. It is emphasized that today’s legislation also does not take into account the economic interests and specifics of the work of those who, while working at their main job, only occasionally engage in craft or have other side jobs. A separate tax regime with the simplest and most transparent administration should be introduced for such an activity in order to facilitate the exit of potential taxpayers from the shadows. In addition, the legislation does not provide a preferential start-up period for entrepreneurs who have just started their business, etc. It is summarized that both in the Middle Ages and now, the key to the effectiveness of legal regulation was and is its compliance with the economic nature and laws, as well as moderation, fairness, taking into account the peculiarities of business, understanding the needs of entrepreneurs, and building their trust and loyalty to state regulators. Among the aspects that should be taken into account in modern legislation, the following are highlighted: taxation of trade and self-produced products (trades and crafts) should be carried out according to different systems; excessive taxation should be avoided; a grace period should be introduced in the taxation of small businesses that have just started their activities. In addition, it is proposed to provide for a special, simplified taxation regime for persons who carry out one or another type of economic activity unevenly, as a supplement or part-time job to their main job. This will not only contribute to the reduction of the shadow economy, but also fill the gap in the current legal regulation.

PENGEMBANGAN MASYARAKAT LINGKAR TAMBANG DALAM PENGUSAHAAN PERTAMBANGAN

Indonesia is a country rich in mining resources. Mining resources include gold, silver, copper, oil and gas, coal and others. There are a large number of companies operating in the mining sector and investing in the mining sector. Mining operations in Indonesia have caused a lot of controversy. On the one hand, mining operations benefit the government and entrepreneurs, but on the other hand, they sacrifice the environment, causing many problems for the lives of people around the mine. The aim of this research is to analyze the legal aspects related to mining operations and analyze the legal regulations regarding the development of mining communities and the forms of development of mining communities carried out by PT. MSM. The first research method used is a normative juridical research method to find the truth from a normative perspective through a legislative approach from Laws, Presidential Decrees, Presidential Decrees, Ministerial Regulations and concepts regarding the development of mining communities in mining operations. The second research method is empirical juridical research to discover forms of community development around the mine through direct interviews with related parties. The research results related to mining business regulations are based on Article 33 paragraph (3) of the 1945 Constitution of the Republic of Indonesia that states that the Earth, Water and Wealth contained therein are controlled by the state and used as much as possible for the prosperity of the people. Other regulations are contained in Law No. 4 of 2009 concerning Mineral and Coal Mining which has been amended with the enactment of Law No. 3 of 2020. Regulations related to the development and empowerment of communities around mines are also regulated in Minerba Law No. 3 of 2020 and related to CSR, it is regulated in Law No. 40 of 2007 concerning Limited Liability Companies which requires PT business entities to carry out CSR programs. Furthermore, in Minister of Energy and Mineral Resources Regulation No. 41 of 2016 regulates Community Development and Empowerment in Mineral and Coal Mining Business Activities. The existence of PT MSM as a company that carries out gold mining business activities in North Minahasa Regency, North Sulawesi Province has contributed to the development and empowerment of communities around the mine through CSR programs in the fields of infrastructure, education, use of labor and the environmental sector.

What the actual ….? Tensions in the science–business–policy interface for global sustainability

Abstract Interactions of global change science, business and policymakers play a crucial role in shaping today’s regulatory frameworks for corporate sustainability. Our research question is why sustainability might actually be undermined by the ways that some prominent interfaces are informing corporate sustainability. Concentrating on ‘science-based’ initiatives that prescribe quantitative target-setting, business-driven task forces that define frameworks for businesses to assess and disclose information on strategies and targets, and the European Union (EU) as a supranational policymaking power, we scrutinise concepts, debates and developments involving these three globally influential non-state actors. Although the conceptualisation of sustainability as a safe and just space is well established in academic and policy contexts, key premises are being lost in translation at science–business–policy interfaces, delaying or actually deflecting regulation of business. We call for science–business–policy interfaces to conceptualise corporate sustainability as business contributing to mitigating planetary biophysical pressures and securing social foundations worldwide. In this context, we argue that the research basis for ‘safe and just’ cannot be reduced to simplistic and separate quantifications. Treating global sustainability goals as an itemised checklist for business action, and using scientifically narrow and overly reductive approaches to quantification and target-setting, fall short of this systemic understanding of corporate sustainability. The recognition of risks of unsustainability and the desire for sustainable value creation can act as drivers for change. Paradoxically, today’s business concept of ‘sustainable value’ actually undermines the potential for transformations to sustainability, and the dominant finance-driven treatment of ‘sustainability risks’ fall far short of capturing the hazards of continued unsustainabilities. In examining what the EU is actually doing, we find that the EU’s unprecedented attempts at regulating business for sustainability are being thwarted through powerful lobby interests, the outcomes of the science–business–policy interface, and the EU’s own fixation on economic growth and finance. Sustainability involves dealing justly with today’s unsafe conditions, and dealing safely with unjust conditions. This requires radically more innovative responses from business, truly sustainability-oriented adaptive leadership from policymakers, and critically reflexive transdisciplinary engagement by a much wider range of sustainability scholars.

Balancing power and growth in start-ups: an investigation of founder control, board size, and fundraising efficiency

Purpose The purpose of this study is to scrutinize the relationship between the founder’s control level over the startup and the startup’s board size on fundraising efficiency, in addition to examining how these factors are influenced by different resource combinations that the startup attracts. Design/methodology/approach A sample of 1356 firm-year observations is collected from both the startup database of Business Next Media Corp. in Taiwan and the Company Registration and Business Registration Database of Taiwan’s Ministry of Economic Affairs’ Department of Commerce. The panel data analytic approach with fixed effect is used for hypothesis testing. Findings The founder’s shareholding negatively correlates with fundraising efficiency; such a negative relationship can be alleviated by incorporating foreign investors. The board size positively correlates with fundraising efficiency; such a positive relationship can be mitigated by the inclusion of external corporate directors. Originality/value While a conventional understanding posits that startups with diverse, multiplex and symmetrical boards can rapidly construct a diverse alliance portfolio, henceforth always being beneficial to growth, this research challenges this notion by probing the possible adverse effects of having an excessive number of outside corporate directors on a startup’s fundraising efficiency.

An Ethical Sustainability Model for the Ready-Made Garments Enterprises in Bangladesh

The primary purpose of this study is to assess the policies that affect the ethics of business and draw recommendations for an ethical and sustainable policy for the improvement of Business Sustainability in Bangladesh’s RMG sector. The RMG sector is crucial to Bangladesh’s economy, being the backbone and providing the highest export earnings. A PST (Purposive Sampling Technique) was used to collect the data by conducting self-administered surveys completed by 279 participants from 20 RMG companies situated in five different areas. The potentials and perspectives given in the feedback are practical in terms of ethics and the present tendencies in the field. The research shows a strong positive link between an ECC (Ethical Code of Conduct) and BS (Business Sustainability) (r = 0. 256) and an even more substantial correlation for CSR (Corporate Social Responsibility) (r = 0. 355). Ethical leadership also demonstrates a positive relationship with business sustainability (r = 0.282). Additionally, there is a weaker but still positive connection exists between BS and NG (New Governance) (r = 0. 168). Such findings highlight the importance of ethical business regulation since it can be instrumental in enhancing Bangladesh RMG firms’ sustainability. Managers, who play a critical role in this process, are particularly important in retaining experienced employees and promoting ethical practices. This study underscores the need for robust ethical frameworks to ensure the long-term sustainability and competitiveness of the RMG industry in Bangladesh. Bangladeshi enterprises participating in such RMG industry must imitate sustainable studies in their operations to gain a competitive benefit in the market and develop sustainable value propositions.

PENGARUH UANG ELEKTRONIK, SUKU BUNGA, DAN INFLASI TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA TAHUN 2015.I – 2023.IV

This study aims to test and analyze the effect of electronic money, interest rates, and inflation on economic growth in Indonesia in 2015.I-2023.IV. The type of research used is explanatory research. The research data source is secondary time series data in quarterly form, namely the first quarter of 2015 to the fourth quarter of 2023. The analysis model used is multiple linear regression analysis. Based on the results of partial hypothesis testing, it is concluded that the electronic money variable, and interest rates have no significant effect, while the inflation variable has a significant effect on economic growth. Simultaneously, the variables of electronic money, interest rates, and inflation simultaneously have a significant effect on economic growth. The acceleration of digital transactions should be accompanied by the availability of adequate infrastructure and simplify business regulations and increase market confidence so as to encourage economic growth.

Digital financial inclusion and SME market dynamics: an empirical analysis based on big data of business registrations in China

ABSTRACT With the deepening of internet development, digital financial inclusion has gradually become a crucial force in promoting the market entry of small and micro enterprises (SMEs). This study analyzes the impact of digital financial inclusion on SME market dynamics, using big data of business registrations and digital financial inclusion data of 268 cities in China from 2011 to 2017. Employing two-way fixed effects and instrumental variable regression methods, we find that digital financial inclusion significantly facilitates SME market entrance and reduces exiting risk. Moreover, the level of internet development moderates the impact of digital financial inclusion, with regions having high internet coverage showing a stronger effect in promoting entry; while regions with low internet coverage exhibit a more pronounced effect in reducing exiting. Further heterogeneity analysis suggests that the impact of digital financial inclusion primarily reveals with the breadth of coverage and depth of use. The effects are more significant in regions with high levels of innovation and foreign investment. This paper provides new empirical evidence on the role of digital financial inclusion in SME development and proposes relevant policy recommendations to promote sustainable development for SMEs.

Becoming a first-time entrepreneur in your 40s and older: lessons from survival analysis

Purpose: This article aims to have a better understanding of a specific group of first-time entrepreneurs starting a business at the age of 40 years and older (associated in the literature with the terms “third age” or “silver age”), often experiencing career shocks or feeling a need to change their working lives and habits. Design/Methodology/Approach: The research explores the situation in a small, open Central European economy, the Czech Republic. It is based on extensive business register data covering the years 2010-2023, allowing first-time entrepreneurs within this age group to be captured. These individual-level data, combined with information from other sources, created a dataset of 178,388 first-time entrepreneurs aged 40+ by the time of starting their business. These were used to study their characteristics and analyse factors shaping their business survival. Findings: We found that, on average, 12,857 individuals aged 40+ become entrepreneurs for the first time annually; their characteristics differ in terms of age, gender, sectoral orientation, region of doing business, and education. The results from the Cox-Hazard survival analysis support the importance of these factors, highlighting, for example, that females had higher chances of closing their business activity, and that the likelihood of closing the business increases with age. Originality/Value: This article uniquely addresses the population of third-age entrepreneurs in a specific country context. Becoming an entrepreneur at the third age might be an opportunity to change working habits, leave employment, and enhance work-life balance through an entrepreneurial career pathway. This is important, especially in the context of population ageing and increased life length expectancy, allowing individuals to stay economically active longer. Keywords: Entrepreneurship; First-time Entrepreneur; Third Age; Silver Age, 40+ population; Czech Republic; SDG 8: Decent Work and Economic Growth.

Customer Satisfaction and Service Quality: A Study on BRELA in Tanzania

This study focused on assessing customer satisfaction with the quality of services provided by Tanzania's Business Registrations and Licensing Agency (BRELA), particularly its Communication Unit in Dar es Salaam. The research had three main objectives: identifying frequently inquired services at the Communication Unit, evaluating customer satisfaction levels, and gathering customer perspectives. The study aimed to assess the level of customer satisfaction and service quality as the result of BRELA's efforts to enhance services and introduce online options in 2018. Using the SERVQUAL scale, the study examined seven service quality dimensions: Tangibles, Reliability, Responsiveness, Competence, Access, Communication, and Understanding. A quantitative approach was adopted, involving a survey with convenience sampling to gather data from diverse respondents, including entrepreneurs, company owners, and prospective business starters in Tanzania. To ensure a balanced representation, the study received 20 calls daily at the call center for 19 days. Data collection involved a coded Excel questionnaire installed on call center computers. Analysis was conducted using Statistical Package for the Social Sciences (SPSS) and Microsoft Excel. Among the findings, Company Registrations emerged as the most requested service, with 242 out of 384 respondents seeking it. Respondents generally reported satisfaction with BRELA's services across the seven quality dimensions, and 79.2% held a positive perception of BRELA. The study recommended transforming the Communication Unit into the Directorate of Corporate Communications and Customer Service, enhancing the call center system, conducting awareness campaigns, and emphasizing adherence to the Client Service Charter. These recommendations aimed to improve BRELA's service quality, customer satisfaction, and the public.

Kualitas Pelayanan Dalam Pengurusan Perizinan Tanda Daftar Usaha Pariwisata (TDUP) Pada Dinas Penanaman Modal dan Pelayanan Terpadu Satu Pintu Kota Pematang Siantar

The process of obtaining a Tourism Business Registration Certificate (TDUP) at the Integrated Investment and Licensing One-Stop Office in Pematang Siantar City, issues related to service quality have been identified. The problems is the low quality of service, permit issuance is often not fulfilled or takes a significant amount of time. This research aims to evaluate the quality of services provided in the process of obtaining (TDUP) at the Integrated Investment and Licensing One-Stop Office in Pematang Siantar City. The research method used is qualitative descriptive. Data is collected through observation, interviews, and documentation. The theoretical framework used in this research is the service quality theory by Zeithhaml, with indicators including tangible evidence, reliability, responsiveness, assurance, and empathy. The research results indicate that the quality of service in the process of obtaining a Tourism Business Registration Certificate has not reached an optimal level. This is evident from various indicators, such as the incompleteness of facilities, including toilet facilities in the service area and fully functional computers to support online systems. Employees involved in serving the public have not fully mastered their core tasks. Responsiveness in service is also lacking, as many individuals feel that the employees handling the Tourism Business Registration Certificate process provide slow and complicated responses. The assurances given by employees regarding service completion times are not in line with the promised deadlines.

‘He made it his rule never to grant licenses to married women’: Gender, licensing and the law in nineteenth‐century New South Wales, Victoria and New Zealand

AbstractThis article considers hotel licensing and gender across New Zealand, New South Wales and Victoria in the long nineteenth century, creating timelines of legislative changes and exploring the impact of business regulation and its implementation on women. It exposes a disconnect between law and licensing court practices, indicative of the ways entrenched understandings of gendered behaviours and local conditions affected women in business. It demonstrates that women's rights as publicans went backwards in New Zealand and New South Wales, just as other rights were expanding. It explores Victorian exceptionalism, Victoria legalising female licensees when others did not.

INTERNATIONAL EXPERIENCE OF STATE REGULATION OF THE FOOD INDUSTRY IN THE CONTEXT OF DIGITAL TRANSFORMATION

The article is devoted to researching the international experience of state regulation of the food industry in the conditions of digital transformation and determining ways of its adaptation to Ukrainian realities. The experience of the EU, the USA, China, Canada, Australia and India in the application of digital transformation technologies and innovations in the state regulation of food business was studied. The key factors for the successful implementation of digital technologies in the regulatory mechanisms of the food industry have been identified, including: the creation of a legal framework, investment in the development of digital infrastructure, increasing the digital literacy of employees and consumers, as well as cooperation between state bodies. The results of the conducted research emphasize the need for an integrated approach combining technological innovation, cooperation between governments, industry and scientific institutions, as well as strict quality standards. The integration of advanced technologies and partnerships between the government and the private sector are key elements for the sustainable development of the food industry.