Procurement policy and SME participation in public purchasing

This study investigates the relationship between regulatory policies governing public procurement and participation by small and medium enterprises (SMEs), using a large dataset on European procurement. We find that better quality procurement regulation is associated with greater SME participation and higher probability that SMEs win contracts. Dividing contracts into smaller lots, a key feature of 2014 EU procurement regulation reform, bolsters participation by SMEs but only increases the probability of SMEs winning contracts for small value lots (€25,000 or less). Our results suggest governments seeking to enhance participation by SMEs in public procurement without explicitly favoring SMEs can do so by improving the overall quality of procurement processes.

PECULIARITIES OF REFORMING THE ENERGY RESOURCES MARKET OF UKRAINE

Introduction. Ukraine is characterized by a certain energy dependence, as in most European countries, but its excessive dependence on external monopoly sources of fuel and energy resources has been and is one of the major threats to both energy security and national security in general. The main means to counteract these threats is to diversify not only the sources and routes of transportation of energy resources, but also energy technologies, the system of production and consumption of energy resources.Hypothesis: introduction of the model of configuration regulation / reform of the energy market will allow to move to a climate-neutral development of Ukraine by 2050 within the framework of the program "European Green Deal", to significantly accelerate energy transformations.The purpose of the study is to justify and develop practical recommendations for reforming the energy market in Ukraine.Methods of research: statistical analysis – for comparative analysis and determination of dynamics of production and consumption of basic energy resources; system analysis – to substantiate and develop a model of configuration regulation / reform of the energy market.Results: The dynamics of primary energy consumption are analyzed: coal, crude oil and petroleum products, natural gas, electricity / hydropower, nuclear, wind, solar, bio, heat. A systematic analysis of energy supply was carried out, optimistic, realistic and pessimistic forecasts of Ukraine's fuel and energy balance until 2035 were constructed. Developed and proposed to use a configuration regulation / reform model to implement energy market reform.Conclusions: implementation of the model of configuration regulation / reformation of the energy market will allow to implement measures for rational use of energy resources, to reduce the energy intensity of the gross domestic product. The formation of effective tools for reforming the energy market will allow to implement the main principles of the Concept of "green" energy transition of Ukraine to 2050.

Personal Bankruptcy Laws and Corporate Policies

In this article we examine whether and how changes in personal bankruptcy laws, viewed as a shock to employees’ expected personal wealth, affect corporate policies. Following a reform in personal bankruptcy laws that limits individuals’ access to bankruptcy protection, firms more affected by this regulation reform increase labor costs, reduce investment, and engage in less risk taking. The effects are stronger when employees have more bargaining power. Furthermore, firms in industries characterized by high unemployment risk reduce leverage. These results support the view that firms choose more conservative policies to mitigate employees’ expected welfare losses.

Malaysia’s Anti-Fake News Act: A cog in an arsenal of anti-free speech laws and a bold promise of reforms

Malaysia’s surprising fourteenth general election result in May 2018 was widely hailed as the advent of a seismic shift for press freedom in the country. The country’s draconian media control armoury was often wantonly and oppressively applied over six decades under previous rule. Key actors from that era are now presiding over bold reforms that have been promised by the new government. In keeping with its election promises, the new government sought to repeal the hastily and badly drafted Anti-Fake News Act 2018 (AFNA). The Attorney-General Tommy Thomas wrote scathingly before the Act was passed and before taking office as the new A-G:The draconian effect of the entire bill renders it unconstitutional…This is a disgraceful piece of legislation drafted by a desperate government determined to crush dissent and silence critics. The bill is so hastily and poorly drafted that it cannot under any circumstances be improved by amendment. Instead, it must be rejected outright. (Thomas, 2018)The repeal effort, however, failed and the Act remains technically on the books. This article examines the Act against a backdrop of global responses to the ‘fake news’ phenomenon; provides an overview of Malaysia’s draconian armoury of laws that impinge on freedom of expression; discusses the fading optimism for proper media regulation reform in Malaysia; and concludes that meaningful media regulation reform must go beyond repealing AFNA.

Venture Capital Regulation Reform: Revitalization of Venture Capital as an Alternatives Financing Mentorship and Partnership Based

The growth of Venture Capital Company (PMV) in Indonesia is progressive although not significant. The Characteristics of Venture Capital, which is temporary in equity participation, caused venture capital financing is being highly risky financing. To anticipate this risk, PMVseeks the Investee Company (PPU) as a partner who is obliged to return capital. This is to secure this investment by using the concept of financing by venture capital. In addition, a guarantee agreement can be executed if Investee Company did not carry out obligations. This research aims to examine and analyze the essence of venture capital as an alternative financing mentorship and partnership based. In addition, it examines the position of collateral in financing venture capital. This study uses a normative juridical approach with descriptive analytical research specifications and qualitative juridical analysis. The initial concept financing of venture capital as equity participation that using mentorship and partnership turns into loan based financing with collateral. The regulations reform of venture capital through OJK Regulation is aim to expand the objectives of Venture Capital as an effort to anticipate the development of technology based and start up business. In addition, regulation reform of on Venture Capital aims to strengthen venture Capital through the authority of PMV/PMVSto manage Venture Fund. Legal reform of Venture Capital must be interpreted and implemented in line with the purposes of venture Capital as an alternative financing that prioritizes mentorship and partnership between PMV/PMVSand PPU. Beside the supervision by the OJK, the Venture Capital Agreement is an instrument to empower Venture Capital for MSMEs financing optimally. Keywords: revitalization of venture capital; law reform of venture capital; financing mentorship based