Intimacy and Estrangement

2021 ◽  
Vol 41 (3) ◽  
pp. 423-440
Author(s):  
Emma Park

Abstract This article explores the incremental privatization of what is today East Africa's largest corporation, communications and finance firm Safaricom. In the late 1990s and early 2000s, British multinational Vodafone became a partial shareholder of Safaricom, with the government of Kenya retaining the majority stake in the company. This was followed by the company going “public” in 2008 through an Initial Public Offering (IPO). In exploring these transformations, this article demonstrates that privatization was not a singular event but turned on the production of divisibility: a discursive, epistemological, and material process whereby seemingly “classificatory wholes”—a corporation, an infrastructure, a state asset—were first presented and then rendered as partible entities. As the lines between the public and the private were being redrawn, another conceptual series—“citizenship,” “development,” the “public”—were similarly transformed into partible objects subject to division. Unraveling the historical entanglement of the corporation and the state, this article clarifies why, today, Kenyans—some of whom have been reformatted as shareholder-client-citizens—call on Safaricom to act like the state from which it has been incrementally “unbundled.”

2020 ◽  
Vol 5 (2) ◽  
pp. 30
Author(s):  
Anggi Purnama Harahap ◽  
Rahmad Ramadhan Hasibuan ◽  
Lupitta Risma Candanni

This paper will discuss the initial public offering (IPO) for startup companies. Case study of PT Aplikasi Karya Anak Bangsa Go-Jek. The discussion in this paper will emphasize startups and their comparison with IPOs in ordinary companies (Case Study PT Jasa Armada Indonesia, Tbk) and other startup companies, namely PT Kioson Commercial Indonesia, Tbk) in 2017. A qualitative approach with normative descriptive and benchmark method is used to analyze the problem mention above. This research finds that in general, public regulations and general guidance in Law Number 8 of 1995 concerning the Capital Market and other related regulations sufficient to meet the requirements of going public for public companies. But with the development of startup companies in Indonesia, especially PT Aplikasi Karya Anak Bangsa (Go-Jek), planning to conduct an initial public offering encourages the government to immediately make decisions on the initial public offering process rules so that these arrangements will not only reach ordinary companies with the number of assets large but also able to reach start-up companies to contribute to the development of the national economy.


Author(s):  
Jay B. Kesten

An initial public offering (IPO) is one of the most important events in the life cycle of a developing firm. The decision to “go public,” however, is complicated by the persistently cyclical market for public offerings. This chapter analyzes the macroeconomic determinants of IPO market cyclicality alongside the strategic and corporate governance considerations faced by private firms, arising from the costs and benefits of going public. The law and economics of the going-public decision also are relevant to the secular decline in IPOs since the turn of the millennium. This chapter evaluates several competing and complementary hypotheses that attempt to explain this phenomenon, each of which relies at least in part on the various features of the going-public decision-making process.


2015 ◽  
Author(s):  
◽  
Reza Houston

[ACCESS RESTRICTED TO THE UNIVERSITY OF MISSOURI AT AUTHOR'S REQUEST.] This study is an examination of the relationship between political connections and the undertaking of major firm events. In our first essay, presented in Chapter 3, we examine the impact politically connected appointments have on firm acquisition behavior. Using proxy statements, we create a unique database of politically connected bidders and merger targets. We find that bidders who hire connected individuals to the board or management team are more likely to avoid merger litigation. Connected bidders make more bids after the appointment. These firms also bid on larger targets. We determine there is a positive relation between the control premium and the relative of the target's connections. Connected acquirers have superior post-merger accounting performance, particularly when they acquire a connected target firm. In the second essay, presented in Chapter 4, we examine the relationship between political connections of private firms and the initial public offering process. Using registration statement information, we create a unique database of politically connected IPO firms. We find that political connections are substitutes to high-quality underwriters and big four auditors. Politically connected firms manage earnings more highly upward than non-connected firms prior to the public offering. Politically connected firms also exhibit less underpricing than non-connected firms. Politically connected IPO firms also have superior post-IPO returns relative to non-connected IPO firms.


Orthodoxia ◽  
2021 ◽  
pp. 111-124
Author(s):  
F. A. Gayda

This article deals with the political situation around the elections to the State Duma of the Russian Empire in 1912 (4th convocation). The main actors of the campaign were the government, local administration, liberal opposition and the clergy of the Orthodox Russian Church. After the 1905 revolution, the “official Church” found itself in a difficult situation. In particular, anti-Church criticism intensified sharply and was expressed now quite openly, both in the press and from the rostrum of the Duma. A consequence of these circumstances was that in this Duma campaign, for the first time in the history of Russian parliamentarianism, “administrative resources” were widely used. At the same time, the authorities failed to achieve their political objectives. The Russian clergy became actively involved in the election campaign. The government sought to use the conflict between the liberal majority in the third Duma and the clerical hierarchy. Duma members launched an active criticism of the Orthodox clergy, using Grigory Rasputin as an excuse. Even staunch conservatives spoke negatively about Rasputin. According to the results of the election campaign, the opposition was even more active in using the label “Rasputinians” against the Holy Synod and the Russian episcopate. Forty-seven persons of clerical rank were elected to the House — three fewer than in the previous Duma. As a result, the assembly of the clergy elected to the Duma decided not to form its own group, but to spread out among the factions. An active campaign in Parliament and the press not only created a certain public mood, but also provoked a political split and polarization within the clergy. The clergy themselves were generally inclined to blame the state authorities for the public isolation of the Church. The Duma election of 1912 seriously affected the attitude of the opposition and the public toward the bishopric after the February revolution of 1917.


2014 ◽  
Vol 4 (1) ◽  
pp. 23
Author(s):  
Tawanda Zinyama ◽  
Joseph Tinarwo

Public administration is carried out through the public service. Public administration is an instrument of the State which is expected to implement the policy decisions made from the political and legislative processes. The rationale of this article is to assess the working relationships between ministers and permanent secretaries in the Government of National Unity in Zimbabwe. The success of the Minister depends to a large degree on the ability and goodwill of a permanent secretary who often has a very different personal or professional background and whom the minster did not appoint. Here lies the vitality of the permanent secretary institution. If a Minister decides to ignore the advice of the permanent secretary, he/she may risk of making serious errors. The permanent secretary is the key link between the democratic process and the public service. This article observed that the mere fact that the permanent secretary carries out the political, economic and social interests and functions of the state from which he/she derives his/her authority and power; and to which he/she is accountable,  no permanent secretary is apolitical and neutral to the ideological predisposition of the elected Ministers. The interaction between the two is a political process. Contemporary administrator requires complex team-work and the synthesis of diverse contributions and view-points.


2010 ◽  
Vol 40 (3) ◽  
pp. 390
Author(s):  
Yohanes Suhardin

AbstrakThe role of the state in combating poverty is very strategic. Combatingpoverty means to free citizens who are poor. The strategic role given thenational ideals (read: state) is the creation of public welfare. Therefore,countries in this regard the government as the organizer of the state musthold fast to the national ideals through legal product that is loaded withsocial justice values in order to realize common prosperity. Therefore, thenature of the law is justice, then in the context of the state, the lawestablished for the creation of social justice. Law believed that social justiceas the path to the public welfare so that the Indonesian people in a relativelyshort time to eradicate poverty.


2021 ◽  
Author(s):  
M. A. Alolayan ◽  
◽  
F. M. Albarrak ◽  
M. H. Abotalib ◽  
M. A. Alshawaf ◽  
...  

The net benefits and public acceptance for a proposed reform to the current subsidization of energy in the State of Kuwait was investigated in this study. The proposed subsidization suggests that the government pays the consumers the subsidization cost in advance and in exchange for raising the subsidized tariffs to full price. The consumption will likely be reduced by a rate equals the over consumption due to the current subsidized tariffs in relative to the income. The net benefits is expected to be maximized and shifted to a pseudo-equilibrium point where both the governments and the consumers will be better off financially. The public acceptance toward the proposed strategy was examined using 274 voluntarily one-to-one interviews for gasoline and 121 for electricity and water. Also, a utilities meters reading program was conducted on 90 houses out of the 121 interviews for utilities. The interviews for gasoline and utilities indicated 57% and 66% of the respondents see no equity in the current subsidization, 55% and 80% admitted to overuse, and 11% and 21% averages of the over consumptions, and 67% and 66% of the respondents were willing to adopt the new strategy. The consumer is expected to save 912 USD/year from gasoline, and 8,198 USD/year from utilities. The estimated net benefits is 5,841 million USD annually with 62% attributed to utilities benefits and 38% to gasoline benefits.


Author(s):  
Mosgan Situmorang

<p>Dalam Undang-Undang Nomor 16 Tahun 2011 tentang Bantuan Hukum dikatakan bahwa pemberi bantuan hukum adalah lembaga bantuan hukum atau organisasi kemasyarakatan yang memberi layanan bantuan hukum. Jasa hukum yang diberikan kepada penerima bantuan hukum adalah cuma-cuma, dalam ar Ɵ mereka Ɵ dak mendapat upah dari pihak yang dibantunya, namun pemerintah akan memberikan dana bantuan untuk se Ɵ ap kasus yang ditangani yang besarnya disesuaikan dengan jenis kasusnya. Dana bantuan tersebut memang Ɵ dak akan diberikan kepada semua organisasi bantuan hukum, tetapi hanya kepada organisasi bantuan hukum yang sudah memenuhi syarat sesuai dengan Undang-Undang Bantuan Hukum. Karena dana tersebut berasal dari Anggaran Pendapatan dan Belanja Negara, maka tentu saja akuntabilitas organisasi bantuan hukum yang menerima dana tersebut harus dapat dipertanggung jawaban kepada masyarakat. Tulisan ini adalah berupa kajian norma Ɵ f, dengan demikian data yang digunakan adalah data sekunder berupa bahan primer yakni peraturan perundang undangan, utamanya Undang-Undang Nomor 16 Tahun 2011 dan undang- undang lain yang terkait serta bahan sekunder berupa bahan kepustakaan dan data dari internet. Dalam peneli Ɵ an ini disimpulkan bahwa Undang- Undang Bantuan Hukum sudah dapat mengan Ɵ sipasi perlunya akuntabilitas organisasi bantuan hukum tapi masih perlu di Ɵ ngkatkan dengan cara membuat aturan-aturan yang mendukung terciptanya akuntabilitas tersebut terutama peraturan mengenai standar bantuan hukum.</p><p>In Law No. 16 Year 2011 regarding Legal Aid, stated that legal aid provider is a legal aid organiza Ɵ on or community organiza Ɵ ons that provide legal aid services. Legal services provided by the legal aid organiza Ɵ on is free in the sense that they do not get paid from those who helped. However, the government will provide fi nancial assistance for each case handled that amount is in accordance with the type of case. The grant is not given to all legal aid organiza Ɵ ons but only to a legal aid organiza Ɵ on that has been quali fi ed in accordance with the Legal Aid Act. Because these funds come from the state budget of course accountability of legal aid organiza Ɵ ons receiving funds must be able to be an answer to the public. This paper is a norma Ɵ ve review, thus the data used are secondary data from the primary material i.e laws and regula Ɵ ons, especially Law No. 16 of 2011 and other laws related and secondary materials in the form of the literature and data from the internet.This study concluded that the Legal Aid Act was able to an Ɵ cipate the need for accountability of legal aid organiza Ɵ ons but it is need to be improved by making rules that favor the crea Ɵ on of accountability mainly standard rules regarding legal aid.</p>


2021 ◽  
Vol 13 (2) ◽  
pp. 319-329
Author(s):  
Kamaluddin Abbas

The government has made many laws and regulations, but corruption issues cannot yet be controlled. Police and Prosecuting Attorney Institutions have not yet functioned effectively and efficiently in eradicating corruption. Therefore, the public hopes Komisi Pemberantasan Korupsi (KPK)/the Corruption Eradication Commission eliminates the crime. KPK is considerably appreciated by the public due to Operasi Tangkap Tangan (OTT)/Red-handed Catch Operation to many government officials involved in bribery action, but the subject matter thereof is whether the OTT is in line with the fundamental consideration of KPK founding pursuant to Law Number 30 of 2002 as updated by the Law Number 19 of 2019 in order to increase the eradication of corruption crime causing the state's financial loss with respect to people welfare particularly KPK powers pursuant to the provision of Article 11 thereof, among others, specifying that KPK shall be authorized to conduct inquiry, investigation and prosecution on corruption crime related to the state financial loss of at least Rp 1,000,000,000 but in fact many OTTs performed by KPK have a value of hundred million Rupiah only and even there are any cases below Rp 100,000,000.-, and bribery action control through OTT being more dominant if compared to the state's financial corruption is not in line with the primary consideration of KPK founding, and similarly the OTT below 1 billion Rupiah doesn't conform to the provision of Article 11 thereof.


Author(s):  
Sergei Aleksandrovich Konovalenko ◽  
Georgy Ismaylovich Harada ◽  
Nazirkhan Gadzhievich Gadzhiev

Implementation of the decisions made in the course of management of economic and socio-political development of the state causes the adequate financial flows forming the budgetary sphere of the state. The trouble in this sphere does not allow to provide the necessary level of economic growth, hampers reforming of the economy, makes negative impact on commercial and foreign economic activity, interferes with improvement of monetary and credit, tax, insurance and other spheres of the financial system of the Russian Federation. The offenses connected with corruption and theft of budget funds committed by officials at various levels significantly undermine the authority of the government, cause a growth of discontent of society and impact the social and economic situation in the country. The practice of identifying the offenses connected with theft of public funds and property shows that practically all spheres of the public sector of economy are, to a greater or lesser extent, subject to the risks of such crimes commitment. In this regard, a research of methods and ways of assessment of corruption theft amount in the public sector of the economy is an important and hot topic. The main types of public funds theft have been analyzed, including theft of budget funds allocated in the form of grants for targeted measures; theft by overcharging the prices of goods and services used for the state needs; the acquisition of inventory for personal use of the heads of public companies at the expense of the company, etc. The dynamics of the amount of budget crimes in the Ryazan region has been analyzed. It was inferred that corruption crimes in the public sector of the Ryazan region include fraud, abuse of power, abuse of authority, illegal participation in business, as well as taking bribes. A set of measures for preventing the above crimes has been proposed.


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