Responsibility Of State-owned Enterprises Research Articles

Corporate social responsibility in state-owned enterprises: Zimbabwe Revenue Authority

Corporate social responsibility in state-owned enterprises: Zimbabwe Revenue Authority

State-Owned Enterprise’s Debt in the State Financial Regime

Several Indonesian State-Owned Enterprises (SOEs) have had very high debts recently. Several reasons, such as government assignment projects, the impact of the Covid-19 pandemic, and corrupt management behaviour, have caused the increase in liability. There is a fierce debate among academics and legal scholars regarding whether the SOE’s debt is state debt. A state company is an independent legal entity separate from the state and obtains capital from separated state assets. Besides, the state, as the majority shareholder, assigns SOEs to projects that support government programs even though they are not profitable. In addition, several SOEs often receive State Equity Participation to survive bankruptcy caused by running out of capital or large debts. This paper will analyse the country's debt status from the perspective of public finance by taking the case of Indonesia. Moreover, it will explore the theoretical and empirical aspects of SOE’s debt from a state finance point of view. This study will use doctrinal legal research to interrogate the law as it is and should be. Although this research concludes that SOEs' finances are a state financial regime, the supervision of SOEs is not Government Judgment Rules but Business Judgment Rules. SOE's debt is the responsibility of SOE as a corporate legal entity. In the case of Indonesia, the government often rescues SOEs that have failed to pay their debts through State Equity Participation and/or privatisation while maintaining most state ownership shares, for instance, Garuda Indonesia, a national airline. Finally, state accountability for SOE's debt only occurs indirectly because of the financial separation between the state and companies. The Indonesian government saved Garuda Indonesia's finances to protect national assets and continue to control vital businesses. However, the state must also reform the management of SOEs so as not to harm state finances by upholding good corporate governance and preventing fraud and corruption.

Reform of State-Owned Enterprises for the Purpose of Economic Growth in the Republic of Serbia

This study on the performance of state-owned enterprises in Serbia has shown that the state has great difficulties managing the enterprises that are in its portfolio and under its control. The adaptation of state-owned enterprises to exogenous shocks unfolds at a slow pace and is faced with many problems. The institutional environment for the strategic restructuring of the state sector is not in the service of strengthening the efficiency of its business operation. The study has shown that the economic performance of state-owned enterprises exerts a direct influence on economic growth, the budget, government balance sheets, and debt. While healthy enterprises (the ones conducting their business successfully) are valuable state-owned property, enterprises with a loss or over indebted enterprises are obligations which demand intervention through the injection of additional capital or through other forms of help from the state. The main goal of restructuring state-owned enterprises is to improve responsibility and efficiency. The array of measures for improving efficiency ranges from modifications of the legal framework and corporate governance of socially owned enterprises (including corporatization and separation of activities) to the sale of property to the private sector or complete privatization. Reforms are aimed at improving the transparency and responsibility of state-owned enterprises, not just for the purpose of efficiency but also for the purpose of harmonization with the ethical and deontological requirements.

Determinants of the disclosure tone of poverty alleviation information: the case of A-share listed companies in China’s Shanghai and Shenzhen stock exchange

ABSTRACT Companies’ disclosing information of targeted poverty alleviation in China has become a referee for investors to judge the morality of the corporate management and influenced the decision-making of investment. According to analysing the sample of A-share listed companies in China’s Shanghai and Shenzhen during 2016–2019, this article tests the effects on practices (Investment of Poverty Alleviation) via theories (Information Disclosure). The empirical result shows that: First, once companies invest more in targeted poverty alleviation, they will significantly increase their active tone, such as active participation and high involvements, to disclose the relevant information. Second, compared with private enterprises, state-owned enterprises will have more active tones in disclosing the information on targeted poverty alleviation. Nevertheless, with the non-profit feature and its social responsibility of state-owned enterprises, results reveal the negative correlations between increasing expenditures in poverty alleviation and its information disclosure.

Restructuring of State Enterprises as a Prerequisite for Economic Growth in the Republic of Serbia

Abstract This study of the performance of state-owned enterprises in Serbia has shown that the state has great difficulties managing the enterprises that are in its portfolio and under its control. The adaptation of state-owned enterprises to exogenous shocks unfolds at a slow pace and is faced with many problems. The institutional environment for the strategic restructuring of the state sector is not in the service of strengthening the efficiency of its business operation. The study has shown that the economic performance of state-owned enterprises exerts a direct influence on economic growth, the budget, government balance sheets, and debt. While the “healthy” enterprises (the ones conducting their business successfully) are valuable state-owned property, enterprises with a loss or over indebted enterprises are obligations which demand intervention through the injection of additional capital or through other forms of help from the state. The main goal of restructuring state-owned enterprises is to improve responsibility and efficiency. The array of measures for improving efficiency ranges from modifications of the legal framework and corporate governance of socially owned enterprises (including corporatization and separation of activities) to the sale of property to the private sector or complete privatization. Reforms are aimed at improving the transparency and responsibility of state-owned enterprises, not just for the purpose of efficiency, but also for the purpose of harmonization with the ethical and deontological requirements.

State-owned enterprises in China: A review of 40 years of research and practice

State-owned enterprises (SOEs) are important components of the Chinese economy. Although SOEs are generally considered inefficient in operations, China’s economy, which relies heavily on SOEs, has been highly successful over the last four decades. This indicates the importance of SOEs in China’s past and future economic success. Therefore, in this study, we review the literature on economic theories and 40 years of practice of Chinese SOEs and discuss implications for future research. Our review consists of four parts: the theories of SOEs and their reform, the performance and financing strategies of SOEs, corporate governance in SOEs, and corporate social responsibility in SOEs.

The influencing factors study on environmental responsibility motive of oil and gas enterprises

In China, as heavily polluting enterprises, oil and gas enterprises, while playing a major role in national economy and the people's livelihood, should assume the environmental responsibility of state-owned enterprises. Through in-depth corporate research, the influencing factors of the environmental responsibility motive of oil and gas enterprises are explored. Principal component analysis method was used to reduce dimensionality of influencing factors, extract four main influencing factors. Then the relationship between each influencing factor and the implementation of environmental responsibility of oil and gas enterprises, so as to the relationship between various factors, was analysed in depth, and the causality diagram was creatively drawn according to the system dynamics principle. On this basis, the realisation path of the environmental responsibility dynamic mechanism of oil and gas enterprises is proposed, which is of great significance for promoting the fulfilment of the environmental responsibility of oil and gas enterprises and achieving ecological sustainable development.

Current Trends in Research on Social Responsibility in State-Owned Enterprises: A Review of the Literature from 2000 to 2017

In recent years, significant changes have produced in the organisational culture of the public sector, bringing accountability and sustainability to the foreground and highlighting the definition of corporate social responsibility (CSR) in public administrations. In this respect, state-owned enterprises (SOEs) are well placed to provide an important example to other companies and society and could be of crucial importance in the promotion and development of socially responsible policies. With these considerations in mind, we analyse the state of research into the practice of CSR within SOEs, seeking to identify the main theoretical and empirical contributions made in this respect, that it will be a useful base for studies in the future. Our results show that research attention has been paid to this issue but significantly less than the large body of work carried out in this respect in the private sector. Most of the studies we identify are descriptive, although a growing body of explanatory research is now appearing. Few studies have been made of the impact of CSR practices on users and this constitutes a possible area for research in the future. Our review shows that research into CSR in SOEs is particularly significant in countries where the state has a strong presence in these companies.

Tanggung Jawab Sosial Badan Usaha Milik Negara dalam Menumbuhkan Kemandirian Masyarakat di Sulawesi Selatan

State-owned enterprises (SOEs) social responsibility is important to maintain continuity of production to the goal of building the social legitimacy, even the implementation of social responsibility in SOEs has become a liability in accordance with the legislation in force. However, reality shows that the implementation of social responsibility by the state has not been able to play an optimal role in fostering self-reliance. Therefore, the issues to be discussed is how a form of implementation of social responsibility SOEs to foster self-reliance. This research was conducted by examining theories and provisions of relevant laws and connected with the application in the field. The research was conducted on a five (5) SOEs in South Sulawesi as a sample. The results showed that the implementation of social and environmental responsibility by the state is a form of concern on the part of the company on surrounding communities and the environment, which is implemented in the form of the Partnership and Community Development Program coupled with other social programs are referred to as BUMN Peduli. However, in order to foster self-reliance of society, there should be synchronization between the activities of the partnership program with environmental development program. Provide guidance to the public should also be conducted on an ongoing basis from the provision of training, provision of capital, mentoring, until the people who nurtured can be sought independently.