Restructuring Policies Research Articles

Earthquake disaster-induced urban policies: paradoxes and challenges in Turkey

ABSTRACT Over 92% of Turkey’s land is exposed to earthquake risk: from historical earthquakes to the recent Kahramanmaras disaster, earthquakes created dramatic consequences. Consequently, there is a pressing need for urban policies aimed at mitigating earthquake risk and implementing a nation-wide urban transformation. In this regard, the central government enacted Law 6306, the ‘Law on Transformation of Areas under Disaster Risk’, in 2012. This paper analyses earthquake-oriented restructuring policies that are authorised by this law. It is argued that the law introduces a new set of risks due to its centralised, discretionary, non-transparent and non-participatory approach. While the constant threat of earthquake still endangers the lives of millions, it also creates an opportunity to exploit the urban space for speculative interest.

Using the Altman’s Z-score formula to assess the bankruptcy risk of state - owned construction enterprises in Vietnam

In the current economic situation affected by epidemics, wars, recessions, etc., construction enterprises in Vietnam in general and state – owned construction enterprises in particular face many difficulties to maintain performance efficiency. On the other hand, the policies of restructuring and equitization of state-owned enterprises also have a strong impact on the financial management of construction enterprises in Vietnam. This study uses data from financial statements of 22 state-owned construction enterprises in Hanoi from 2017 to 2021 to calculate the Altman Z-score formula. The Altman Z-score is a linear combination of four or five common business ratios, weighted by coefficients. Z-scores are used to predict corporate defaults and an easy-to-calculate control measure for the financial distress status of enterprises with high reliability. The research results show that a few enterprises are in the "safe" zone and "grey" one while most are in "distress" zone. The cause of inefficient business performance is that the revenue and profit ratio to total assets of state-owned construction enterprises to decrease sharply, the ratio of working capital to total assets is low. Moreover, the ratio of equity to total debt is the most important reason for the low Z-score, which means predicting a high risk of bankruptcy in state-owned construction enterprises. The evidence base from the research results is used to propose 5 solutions to reduce the risk of bankruptcy and improve the efficiency of financial management of enterprises.

Analisis Kredit Macet dalam Menentukan Kebijakan Restrukturisasi

This research aims to find out how bad credit is resolved by credit restructuring at BRI Central Unit. This research uses descriptive qualitative research methods. The data source used in this research is primary data obtained from interviews and secondary data obtained from the agency, namely Bank BRI Central Unit. Data collection methods were carried out using observation, interviews and documentation methods. Based on the research results, it shows that resolving bad credit or problematic credit in the BRI Central Unit implements a restructuring policy as an effective and efficient way to reduce the level of bad credit. BRI Central Unit creditors have carried out credit restructuring in accordance with applicable banking laws and internal bank regulations. In settlement using the restructuring method, the creditor adheres to the conditions issued by BI, in accordance with the provisions regarding credit restructuring was first regulated in Bank Indonesia Directors’ Decree No. 31/150/KEP/DIR dated 12 November 1998 concerning Credit Restructuring which was later changed to Bank Indonesia Regulation No. 2/15/PBI/2000 concerning Credit Restructuring

Real estate for social purpose: varieties of entrepreneurialism in Toronto’s non-profit housing sector

Non-profit housing providers have faced ongoing pressure from neoliberal restructuring policies since the late twentieth century. In reaction to funding cuts and policies requiring them to become more business-like, housing organisations have become more hybrid, incorporating entrepreneurial logics and practices from the real estate sector. We expand on the concept of hybridity to argue that under certain institutional contexts, non-profits can apply real estate entrepreneurialism towards their social housing missions. Analysing development and acquisition practices of 13 non-profit housing providers in the Greater Toronto Area, we explore how non-profits balance entrepreneurial practices with their commitment to de-commodified housing. Three types of hybrid organisations are identified: large economy-of-scale organisations that prioritise growth and real estate professionalisation; service-focused organisations whose mission statement limits their growth aspirations; and newcomers, whose forays into housing development face both internal capacity limits and criticism from veteran organisations. The variances in hybridisation processes across and within institutional contexts, we find, require a more nuanced theorisation of the longer-term implications of neoliberalisation on social housing. Learning from Toronto’s budding social purpose real estate sector, we identify key resources for entrepreneurial housing non-profits: building sectoral assets, knowledge sharing, risk management, and a balance between organisational diversity and scale.

Exploring land acquisition and restructuring policy in Addis Ababa

This study examines the political economy underlying the design and implementation of land acquisition and restructuring, a territorial policy aimed at reducing affluence disparity. It focuses on the city of Addis Ababa, Ethiopia, where major land invasions occurred between September 2015 and March 2022 in response to prolonged and acute inequality. Local authorities solicited and even coordinated the arriving land speculators. Moreover, land invasion has been empirically fueled not only by land concentration but also by increasing land prices. To better understand this relationship, a regression analysis was conducted on 154 incidents of land attained throughout the silk-lafto sub-cities of Addis Ababa. The study examined various indicators including the concentration of land ownership, market competition, land invaded per capita, literacy rate, land expropriated and reassigned per capita, and unemployment rate. The results show that Ethiopia's land leasing policy, driven by high speculative prices, intensified land inequality and influenced land invasions throughout the city. This has led to a surge in land prices and worsened the problem of land inequality. The findings provide evidence of political struggles regarding the issue of land ownership inequality and show that socio-political pressures exist in both the planning and implementation phases of land-based policies.

Shadow prices of agrochemicals in the Chinese farming sector: A convex expectile regression approach

The use of agrochemical inputs has significantly enhanced agricultural yields in China; however, their excessive utilization has also caused a range of environmental issues. This paper examines the costs associated with reducing agrochemicals by employing shadow prices, which represent the value of the marginal product of agrochemicals, to further develop cost-effective environmental policy measures for reducing their usage. To this end, the shadow prices of agrochemicals have been assessed by adopting a newly developed convex expectile regression approach and using statistical data from 31 provinces in China spanning from 2005 to 2020. Furthermore, the present study investigates the disparities between shadow prices and market prices for different agrochemicals across various regions in China. The findings suggest that the costs of reducing chemical fertilizers are higher than those of reducing pesticides and plastic films. Moreover, the results indicate that central China exhibits relatively high potential for decreasing agrochemical usage. Finally, these findings can inform the Chinese government's restructuring of producer support and environmental policy in a cost-effective way to mitigate agrochemicals use in the future. Additionally, the research method employed in this study holds potential for extension to other agrochemicals-dependent countries.

Bridging the Void: Unraveling Mental Health Policies for the Older Adults in Pakistan's Tapestry- A Literature Review

This literature review focuses on the significant difficulties in mental health policies for older individuals in Pakistan. As the world population ages and the old population in South Asian countries, particularly Pakistan, grows, there is a clear dearth of specialized care for the aging populace. The assessment of literature highlights major challenges such as limited government funding, the influence of the nuclear family trend, and a lack of mental health training. Despite the obvious need for focused strategies, Pakistan has made little progress. Existing policies must be restructured immediately to line with the World Health Organization's active aging framework and the United Nations MIPAA (Madrid International Plan of Action on Ageing). The review emphasizes the need for enhanced visibility, stakeholder collaboration, government financing for research, and policy restructuring about older adults mental health. There is major need to address the stereotypes and stigma related to aging which have negative impact on their quality of life and health. Establishing geriatric expertise in health care and creating policies for a quality aging process, is deemed necessary to enhance the mental health of older adults in Pakistan.

Enhancing Civil Servant Competency through Structural Position Equalization at the National Unity and Politics Department of Pasangkayu Regency, West Sulawesi Province

The current bureaucratic restructuring policy eliminates the Echelon III, IV, and V positions. The Ministry of State Officials Empowerment and Bureaucratic Reform (Kemenpan&RB) issued Circular Letter (SE) of the Minister of PAN and RB Number 393 of 2019, outlining Strategic and Concrete Steps to Simplify the Bureaucracy. Consequently, civil servants underwent competency adjustments following the transition from structural to functional positions at the National Unity and Politics Service in Pasangkayu Regency, West Sulawesi Province. These reforms, initiated in response to Indonesia's recent crises, have significantly bolstered the foundational aspects of democratic life in the country. To evaluate the competencies of civil servants post-transition, the author employed Gordon's (1988) competency theory, which encompasses dimensions such as knowledge, understanding, values, abilities, attitudes, and interests. The research employed a descriptive qualitative method to conduct evaluations, facilitating an in-depth analysis of the competencies of employees affected by the structural-to-functional position equalization at the National Unity and Politics Service in Pasangkayu Regency, West Sulawesi Province. Overall, the competencies of civil servants in the National Unity and Politics Department of Pasangkayu Regency have not yet reached optimal levels. Challenges such as inadequate budgetary support for competency development and insufficient readiness among civil servants following the equalization of positions continue to hinder efforts to enhance employee competency at the National Unity and Politics Service.

IMPLEMENTASI PELAKSANAAN RESTRUKTURISASI PEMBIAYAAN BERMASALAH DALAM UPAYA SUSTAINABLE BANKING DI BANK SYARIAH INDONESIA

This research aims to determine the implementation of restructuring of problematic financing and whether the implementation of restructuring can strive for sustainable banking. This research uses a descriptive method with a qualitative approach. The author collected data using observation, interviews, and documentation methods from three informants in the Marketing Division, with the research location at Bank Syariah Indonesia KCP Bekasi Square. The results of this research show that: 1. The implementation of the restructuring of problematic financing that Bank Syariah Indonesia KCP Bekasi Square has carried out is effective as a form of rescue for problematic financing customers. OJK's restructuring policy is the best step in dealing with problematic financing. 2. The implementation of restructuring to sustain banking has had a very positive impact, such as the bank's performance becoming healthy and the portfolio and customer collectibility returning to normal by integrating environmental, social and governance criteria. This restructuring implementation can support sustainable banking at Bank Syariah Indonesia KCP Bekasi Square.

Net privatisation prices in Brazil

Looking at Brazilian privatisations between 1991 and 2018, we investigate how net privatisation prices react to restructuring policies that are implemented before the sale as well as to private ownership structures that emerge at the sale. We innovate by accounting for restructuring and ownership at the same time and also by exploring a unique dataset that covers 139 transactions, mainly built through fieldwork. The paper provides policymakers with a “do's and don'ts” checklist to extract higher value from the sale. The checklist can be used as a policy guideline for new privatisations in Brazil and potentially in other emerging economies.

Indonesian Banking Sustainability During the Covid -19 Pandemic: Will the Credit Restructuring Policy Have a Significant Impact?

Indonesian Banking Sustainability During the Covid -19 Pandemic: Will the Credit Restructuring Policy Have a Significant Impact?

Various optimized machine learning techniques to predict agricultural commodity prices

AbstractRecent increases in global food demand have made this research and, therefore, the prediction of agricultural commodity prices, almost imperative. The aim of this paper is to build efficient artificial intelligence methods to effectively forecast commodity prices in light of these global events. Using three separate, well-structured models, the commodity prices of eleven major agricultural commodities that have recently caused crises around the world have been predicted. In achieving its objective, this paper proposes a novel forecasting model for agricultural commodity prices using the extreme learning machine technique optimized with the genetic algorithm. In predicting the eleven commodities, the proposed model, the extreme learning machine with the genetic algorithm, outperforms the model formed by the combination of long short-term memory with the genetic algorithm and the autoregressive integrated moving average model. Despite the fluctuations and changes in agricultural commodity prices in 2022, the extreme learning machine with the genetic algorithm model described in this study successfully predicts both qualitative and quantitative behavior in such a large number of commodities and over such a long period of time for the first time. It is expected that these predictions will provide benefits for the effective management, direction and, if necessary, restructuring of agricultural policies by providing food requirements that adapt to the dynamic structure of the countries.

Does the Concept of Property Rights Hold Relevance for Human Resource Performance?

In a world where information technologies (ITs) are globalizing and acting directly and explicitly on organizations, the question of property rights neutrality becomes strategic. In this study, the authors investigated whether ownership is a determinant of human resource performance or whether it is driven by factors other than ownership (e.g., technology and IT). Thus, the major objective of this research was to find out under what conditions ownership exerts a nonneutral effect on the performance of human resources and whether these effects are dependent on the technological aspects of organizations. The authors' methodology included two techniques, namely, nonparametric tests applied to the main indicators of 21 privatized companies (operating in the IT and other sectors) in the Tunisian case, and panel data to explain the impact of privatizations on human resources. The results showed that the privatization process has allowed an improvement in productivity indicators through an increase in incentive systems, particularly for companies with high technological content. The application of the econometric technique evidenced a whole policy of restructuring the allocation of human resources, in the postprivatization period. This makes sense because the incentive system of newly privatized companies strived to be more efficient. Furthermore, the second model showed that human resource dynamics after privatization depends on the business cycle and the nature of investors and IT. The third model confirmed the idea that privatization leads to an improvement in the workforce and its productivity in the long term. Overall, the study generated important managerial implications, the most important of which is that privatization can only generate a positive effect on human resource performance when employees feel involved in the process and as much as the organization is involved in new ITs.

Coal consumption and carbon emission reductions in BRICS countries.

The primary energy consumption structure of BRICS countries is dominated by fossil energy, particularly coal. Coal consumption in BRICS countries is a major driver underlying increased carbon emissions. Therefore, this study developed a spatiotemporal decoupling mode and incorporated factors related to coal consumption-induced carbon emissions into a spatiotemporal decoupling analysis method to provide differentiated and targeted policies for energy restructuring and emission reduction targets in BRICS countries. Moreover, a temporal-spatial decomposition logarithmic mean Divisia index model was developed using the spatiotemporal decoupling index method. The model is based on CO2 emissions generated by coal consumption in BRICS countries, with a primary focus on data from Brazil, Russia, South Africa, India, and China. The findings reveal distinct spatiotemporal distributions and driving effects of coal consumption and carbon dioxide emissions across various countries. Factors such as CO2 emission intensity, coal consumption intensity, economic output per capita, and population structure exerted either positive or negative effects on the distributional effect of the carbon emission-economic output per capita association in BRICS countries. Additionally, country-level heterogeneity in the influence of the distributional effects of CO2 emissions was observed within each BRICS country. Thus, different policies are needed to achieve carbon emission reduction targets in different countries.

Kajian Strategi Restrukturisasi Kredit Usaha Rakyat dalam Mengatasi Loan At Risk (LAR)

The problem that is often faced by the banking world in general is the problem of problematic credit. The same thing happened to Bank BRI. The consequences of these problematic loans can increase the NPL level which will impact the bank's health if not handled quickly and appropriately. So in this case the bank uses credit restructuring by referring to the Loan At Risk (LAR) financial ratio as a restructuring strategy. The same thing happened to Bank BRI, where the factor that led to the implementation of the restructuring policy was because in 2019 the Covid-19 pandemic occurred which resulted in many customers being affected and unable to repay their credit on time. The consequences of these problematic loans can increase the NPL level which will impact the bank's health if not handled quickly and appropriately. So in this case the bank uses credit restructuring as a strategy to reduce non-performing loans. This type of research is qualitative descriptive analysis. Research data was collected using interviews, observation, documentation, and questionnaires. The benefits of research can be used to develop knowledge in the field of financial institutions, especially regarding the implementation of restructuring strategies in overcoming Loan At Risk (LAR). From the implementation of credit restructuring carried out by BRI Bank, it can be concluded that the implementation of credit restructuring as a strategy for reducing problem loans has been carried out effectively in accordance with the procedures and policies that have been determined by the bank's internal and banking regulations. This effectiveness can be proven by the decreasing percentage of LAR levels every year.

A Deepening Political Crisis, Military Involvement and Economic Woes: Evidence From Pakistan

This paper discusses instances of growing military involvement, unceasing political crises and deepening economic grievances impacting Pakistan. The study contributes to the existing literature on three accounts: first, by taking Pakistan’s current context fuelled with regard to growing military engagement, strained civil–military relations and economic uncertainties, second, by explaining the relevance of the joint endogeneity principle with respect to political instability and economic growth and third, by theorizing the linkage of the political spectrum through existing hypotheses. It concludes that Pakistan needs to adopt sequential policy restructuring mechanisms and restore political stability to eliminate military involvement from its political fabric.

Implementasi Kebijakan Restrukturisasi terhadap Pembiayaan Bermasalah Produk Kredit Pemilikan Rumah pada PT. Bank Sumut

One of the financing products offered by Bank Sumut Syariah Karya Sub-Branch Office is a KPR product. In 2020 most customers took mortgage products, but customers who experienced financing had problems paying installments, especially in 2020 when a pandemic occurred which impacted various sectors including the financial sector. Bank Sumut KCPSy This work has a lot of problematic financing from KPR (Home Ownership Credit) products. In overcoming this, Bank Sumut KCPSy Karya offers financing restructuring to make it easier for customers to pay their obligations. Therefore, this research examines the implementation of non-performing financing restructuring policies on mortgage products (home ownership loans). The method used in this research is descriptive qualitative method. The results of this study show that the implementation of restructuring at the Bank Sumut KCPSy Karya is going well. In implementing the restructuring carried out by Bank Sumut KCPSy it is in accordance with Bank Indonesia Regulation No. 13/9/PBI/2011. The restructuring is carried out by means of reconditioning, namely by reducing the number of installments that must be paid each month for a certain period, without increasing the margin and time period, so that in the period after the restructuring, you have to pay installments that are larger than before.
 Keywords: Restructuring, Troubled Financing, Home Ownership Loans, PT Bank Sumut Syariah

Analysis of Combination Review in India under Combination Regime

The Combination (M&A) is a policy of business expansion and corporate restructuring. Such combination can change the entire business structure of an industry. The phrase ‘combination’ includes the term ‘merger and acquisition’. The merger and acquisition both can be interpreted individually as in a merger when two companies combine each other and form a new entity and acquisition is a control which is in the hand of acquiring company who can control more than 50% of share of the target company. According to Hampton (1989) claimed that "a merger is a combination of two or more businesses in which only one of the corporations survives". The symbolic expression of the definition of merger appears A+B= C as per Singh (1971) whereas A+B=C or B or A as explained by Hampton (1989). There is another view to describe merger i.e, when two companies in a same size join together to form a new entity and move forward, this is called ‘merger of equals’. For example two company namely- Daimler-Benz and Chrysler ceased to exist when they merged and the Daimler- Chrysler was created.

Restructuring in the Equalization of Functional Positions in the Department of Education and Culture of Probolinggo Regency

Bureaucratic reform in government is anatural step to evaluate and improve the performance of government agencies. Two important aspects in bureaucratic reform are restructuring the organizational structure and changing the mindset of bureaucrats to prioritize public interests over personal interests. This reform includes simplifying the bureaucracy to two levels as well as transferring structural positions to functional positions based on certain expertise, skills and competencies, in accordance with the merit system. The aim of this researchis to describe and analyze policy implementation as well as to describe and analyze the driving and inhibiting factors in the implementation policy of restructuring the equalization of functional positions at the Probolinggo Regency Education and Culture Service based on Probolinggo Regent Regulation Number 14 of 2022 concerning Position, Organizational Structure, Duties and Functions and Governance. Regional Apparatus Work. The research method applied is a qualitative descriptive method. The theory used in this research is the theory of policy implementation put forward by George C. Edwards III, which includes indicators of communication, resources, disposition and bureaucratic structure. Data was collected through interviews, observation and documentation. The research results show that equalization of positions at the Probolinggo Regency Education and Culture Service is carried out in accordance with applicable regulations, but there are several challenges in its implementation, such as adjusting duties and functions, as well as increasing the competency of affected ASNs. The implication of this research is the need for a more comprehensive strategy in the management and development of human resources in the government environment to ensure better bureaucratic effectiveness and efficiency. It is hoped that the government, especially the Probolinggo Regency Education and Culture Office, this research can contribute ideas and input into the implementation of the restructuring policy for equalizing functional positions.

Revealing novel insights on economic structure from a spatial perspective: Empirical findings from Vietnam

Economic structure plays an essential role in distributing resources and shaping the development trend of a country. Although it has become a topic of interest for scholars, most studies focus on analyzing factors affecting the structural transformation process but ignore the correlation in economic structure between localities. This study explores this correlation through the case of a country undergoing a remarkable economic restructuring process-Vietnam. Based on the data from 2010 to 2019, the Moran?s index (I) is used to assess the level of spatial correlation in the economic structure of localities and the Local Indicator of Spatial Autocorrelation (LISA) is analyzed to determine the specific locations where local spatial correlation occurs. Research results show that the economic structure of localities is unevenly distributed across geographical space. In addition, there exists a spatial autocorrelation phenomenon in localities' economic structure for two sectors-agriculture and industry. At the same time, there is no evidence to show this for the service sector. This discovery confirms the necessity of incorporating spatial factors in research related to economic structure to avoid inaccurate conclusions. From a business perspective, based on the findings of this research, companies can assess the level of competition, risks, as well as business partnership opportunities in different areas, and make appropriate investment decisions. The research results might also serve government agencies regarding planning and functional zoning and formulating and implementing development and economic restructuring policies for various regions.