Enterprise ownership patterns in the least developed districts of Slovakia

Research background: The literature overview shows a blank space regarding the effects of ownership on the determination of enterprises' spatial distribution. Various papers identify differences between determinants of the spatial distribution of foreign direct investments, exporters in foreign ownership, and domestically owned exporters; however, they mostly agree on the role of big cities, economic centres, and state of infrastructure as well as historical patterns. Purpose of the article: The article focuses on the spatial distribution analysis of enterprise units from their owner's perspective on the empirical evidence from all 79 districts of the Slovak Republic. Special attention is given to the category of the least developed districts. Methods: Within the presented article, the authors investigate the characteristics of the regional spatial distribution of business entities concerning standard ownership categories using the cluster analysis. The presented approach is twofold: firstly, the authors investigate the share of individual ownership types on the district level, and secondly, the number of enterprises by ownership categories is adjusted to 100,000 inhabitants. Cluster analysis and methods of spatial statistics are applied in both approaches. Findings & value added: The main results show a relation between the district's inclusion into the group of the least developed districts and enterprise ownership characteristics in these districts mainly through the relative underrepresentation of the secluded inland, foreign and international types of ownership, as well as their geographical clustering. The results of the presented research can be used in policy-making targeting business activity in underdeveloped districts. At the same time, the results provide basis for limited theoretical generalisations based on a single-country case study with regard to principles of business ownership structures development.

The impact of individual and institutional ownership on the firm performance: Evidence from Pakistan Stock Exchange

The study aims to examine the relationship between individual ownership, institutional ownership and firm performance. Further it comparatively analyses the impact of both institutional and individual ownership on firm performance. For this purpose, data have been collected from 64 firms listed on Pakistan Stock Exchange (PSX) for the period of 10 years (2011 - 2020). Random effects model has been employed to test the research hypotheses. This study compares the effect of individual and institutional ownership on firm performance. Result of the study shows that both institutional and individual ownership significantly affect firm performance. However, the degree of the effect is different for both individual and institutional investors. The institutional ownership influences the firm performance twice than the individual investors influence the performance. The results also reveal that the firm performance is positively associated with the firm size while negatively related with the financial leverage. Findings of the study are important for shareholders, managers, academicians and decision makers. They can use information to frame investors’ friendly policies and guide shareholders in taking right financial decisions.

Access to land in sub-Saharan Africa: the church as an unnoticed accomplice

Access to land is still ideal for the majority of sub-Saharan Africans. The colonisers of Africa created the problem of access to land that indigenous Africans are still at pains with. The post-colonial African elite is still perpetuating this problem. The church benefited from the creation of this problem and sit at the table of privileged owners of vast pieces of land. This article is written from the perspective of someone who lives and serves in a sub-Saharan community of poverty. He is been observing local churches with vast pieces of land, limiting access to members only. In the meantime, the population around the church is confined in small spaces of land as family units. This article uses a biblical interpretive framework of Jerimiah 29:7 to stress about the role of the church as a peace agent that creates a shalom community around it. Such as community will be a hybrid between a Eurocentric view on land which value ownership with a title deed, and an Afrocentric view which values access of land to all without the need for individual ownership.

Collective Action and Social Ontology in Thomas Aquinas

In this paper I argue that there are resources in the work of Thomas Aquinas that amount to a unique approach to what David P. Schweikard and Hans Bernhard Schmid’s call the “Central Problem” facing theorists of collective intentionality and action. That is to say, Aquinas can be said to affirm both (1) the “Individual Ownership Claim” and (2) the “Irreducibility Claim,” coherently and compellingly. Regarding the Individual Ownership Claim, I argue that Aquinas’s concept of “general virtue” (virtus generalis) buttresses an account of the way in which individuals act collectively qua individuals, i.e., without invoking hive minds or other scientifically problematic phenomena. Further, with respect to the Irreducibility Claim (2), I argue that Aquinas’s concept of “common good” (bonum commune) offers an account of the way in which some powers and acts of social groups are importantly irreducible to those of their members. Considered together, I argue that these two positions in Aquinas are correlative, and therefore amount to a coherent account of collective action and group agency, respectively.

Konsep kepemilikan dalam islam

Abstract: This article discusses the concept of ownership that exists in Islam. In the concept of Islamic ownership, humans are expected to be able to manage large and extensive natural resources in a more organized manner. Islam teaches the concept of restrictions on property ownership, but does not eliminate individual ownership rights over an object. The concept of Islam in public and state ownership provides comfort and welfare for all levels of society because with good state management natural resources can be distributed to every individual in a guaranteed and appropriate manner. The implications of the concept of ownership in Islam will be able to realize justice, a principle in Islam that is not only justice for individuals but also for all people as a whole.Keywords: Concept, Ownership, Justice in IslamAbstrak: Artikel ini membahas tentang konsep kepemilikan yang ada dalam Islam. Dalam konsep kepemilikan Islam, manusia diharapkan dapat mengelolaan sumber daya alam yang besar dan luas menjadi lebih teratur. Islam mengajarkan konsep pembatasan dalam kepemilikan harta benda, tetapi tidak menghilangkan hak kepemilikan individu atas suatu benda. Konsep Islam dalam kepemilikan publik dan negara memberikan kenyamanan dan kesejahteraan bagi seluruh lapisan masyarakat karena dengan pengelolaan negara yang baik sumber daya alam dapat didistribusikan kepada setiap individu secara terjamin dan tepat. Implikasi dari konsep kepemilikan dalam Islam akan mampu mewujudkan keadilan, suatu prinsip dalam Islam tidak hanya keadilan bagi individu tetapi juga secara keseluruhan bagi semua orang.

Konsep Kepemilikan Dalam Islam

Abstract: This article discusses the concept of ownership that exists in Islam. In the concept of Islamic ownership, humans are expected to be able to manage large and extensive natural resources in a more organized manner. Islam teaches the concept of restrictions on property ownership, but does not eliminate individual ownership rights over an object. The concept of Islam in public and state ownership provides comfort and welfare for all levels of society because with good state management natural resources can be distributed to every individual in a guaranteed and appropriate manner. The implications of the concept of ownership in Islam will be able to realize justice, a principle in Islam that is not only justice for individuals but also for all people as a whole.Keywords: Concept, Ownership, Justice in IslamAbstrak: Artikel ini membahas tentang konsep kepemilikan yang ada dalam Islam. Dalam konsep kepemilikan Islam, manusia diharapkan dapat mengelolaan sumber daya alam yang besar dan luas menjadi lebih teratur. Islam mengajarkan konsep pembatasan dalam kepemilikan harta benda, tetapi tidak menghilangkan hak kepemilikan individu atas suatu benda. Konsep Islam dalam kepemilikan publik dan negara memberikan kenyamanan dan kesejahteraan bagi seluruh lapisan masyarakat karena dengan pengelolaan negara yang baik sumber daya alam dapat didistribusikan kepada setiap individu secara terjamin dan tepat. Implikasi dari konsep kepemilikan dalam Islam akan mampu mewujudkan keadilan, suatu prinsip dalam Islam tidak hanya keadilan bagi individu tetapi juga secara keseluruhan bagi semua orang.Kata kunci: Konsep, Kepemilikan, Keadilan Dalam Islam

KONSEP HAK KEPEMILIKAN BERDASARKAN HUKUM ADAT DAN HUKUM ISLAM

This study focuses on the concept of land ownership rights based on Indonesian customary law and Islamic law. This study is a normative legal research with the approach of statutory law, customary law and Islamic law. Data obtained through library research. Based on this study, it is concluded that both Indonesian Customary Law and Islamic Law recognize individual ownership of land, but that ownership has a social function, namely that land rights must provide benefits for welfare, both the welfare of the owner and the welfare of the community. Both Indonesian Customary Law and Islamic Law prohibit land ownership that is detrimental to the welfare of others. This concept is expected to become a reference in formulating the ownership of material rights in Indonesian National Law.

The Impact of Corporate Governance on Dividend Decisions: Evidence from Non-Financial Sector of Pakistan

This study sought to ascertain the impact of corporate governance on dividend decisions of non-financial firms listed on Pakistan stock exchange (PSX). Panel data was collected from 2011to 2016. Data was collected from Non financial firms annual reports and State Bank of Pakistan (SBP) data base. The STATA software was used to analyze the data. The study investigates the association of firm’s performance and corporate governance. Specifically, this study investigate dividend decision (dividend per share(DPS)), corporate governance (board independence ,board size, size of firm, leverage, profitability, Insider ownership, individual ownership, and institutional ownership). A total of 42 non-financial firms are used to determine this relationship. The results show a positive significant relation between the Profitability, individual ownership with DPS. This study also found a negative and significant relationship between insiders ownership, financial institution ownership with DPS. It has also been found that Board independence, board size, firm size and leverage have negative and insignificant relationship with dividend per share (DPS). Keywords: Corporate Governance, Dividend Decisions, Dividend Policy.

Tata kelola perusahaan dan manajemen laba terhadap kebijakan dividen di Indonesia

This research expected to understand the effect of corporate governance and earning management on dividend policy. The dependent variable selected for the research was the dividend payout ratio, while the independent variable was determined by the size of the board of commissioners, independence of board commissioners, managerial ownership, individual ownership, institutional ownership, directional accrual, firm age, firm size, leverage, and profitability. Samples for research were all companies registered under the Indonesia Stock Exchange, these were chosen using a purposive sampling method with a total of 865 observational data that met the criteria for 5 years. The panel regression method is used to analyze the impact of each independent variable on the dependent variable. The fixed-effects model is found to be the best regression model in this research. The research concludes that individual ownership, institutional ownership and profitability have a significant positive effect on dividend policy. Meanwhile, the size of the board of commissioners, independence of board commissioners, managerial ownership, earning management, firm size, firm age and leverage do not affect dividend policy. Real earning management and ownership factors are encouraged in future studies such as family ownership, public ownership, and foreign ownership in examining the impact on dividend policy.

Tata kelola perusahaan dan manajemen laba terhadap kebijakan dividen di Indonesia

This research expected to understand the effect of corporate governance and earning management on dividend policy. The dependent variable selected for the research was the dividend payout ratio, while the independent variable was determined by the size of the board of commissioners, independence of board commissioners, managerial ownership, individual ownership, institutional ownership, directional accrual, firm age, firm size, leverage, and profitability. Samples for research were all companies registered under the Indonesia Stock Exchange, these were chosen using a purposive sampling method with a total of 865 observational data that met the criteria for 5 years. The panel regression method is used to analyze the impact of each independent variable on the dependent variable. The fixed-effects model is found to be the best regression model in this research. The research concludes that individual ownership, institutional ownership and profitability have a significant positive effect on dividend policy. Meanwhile, the size of the board of commissioners, independence of board commissioners, managerial ownership, earning management, firm size, firm age and leverage do not affect dividend policy. Real earning management and ownership factors are encouraged in future studies such as family ownership, public ownership, and foreign ownership in examining the impact on dividend policy.