Claim Missing Document
Check
Articles

Found 32 Documents
Search

The Effectiveness of Regional Capital Participation in Regionally-Owned Enterprises: Principal-Agent Analysis of District Dividend Contributions Rusito, Rusito; Jumanah, Jumanah
Neo Journal of economy and social humanities Vol 5 No 1 (2026): Neo Journal of Economy and Social Humanities
Publisher : International Publisher (YAPENBI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56403/nejesh.v5i1.428

Abstract

This study aims to analyze the effectiveness of regional capital participation in Regionally Owned Enterprises (BUMD) in increasing dividend contributions to Local Own-Source Revenue (PAD) of Lebak Regency in 2025 through the perspectives of Principal–Agent Theory and Public Value Governance. The study is motivated by the continued high fiscal dependence of local governments on central government transfers, while the contribution of BUMD dividends to local revenue remains relatively low. This research employs a descriptive qualitative approach supported by quantitative data, with data collected through documentary study and document analysis of regional financial reports, capital participation data, BUMD dividend reports, and related policy documents. The low level of effectiveness is influenced by agency problems, weak governance, limited operational capacity, insufficient institutional legitimacy and support, and the still limited public value generated by BUMD. Therefore, strengthening Good Corporate Governance (GCG), performance-based monitoring, business restructuring, and more measurable dividend targets is necessary so that regional capital participation can contribute more effectively to local revenue and public value creation.
Multi-Level Governance in Achieving Regional Investment Targets: Analysis of Investment Realization in Lebak Regency 2020-2025 Rusito, Rusito; Jumanah, Jumanah
Jurnal Multidisiplin Sahombu Vol. 6 No. 03 (2026): Jurnal Multidisiplin Sahombu, 2026
Publisher : Sean Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to analyze Multi-Level Governance in achieving regional investment targets in Lebak Regency, Banten Province. The study employs a descriptive qualitative approach supported by quantitative data. The analysis focuses on five main dimensions of Multi-Level Governance, namely authority distribution, vertical coordination, horizontal coordination, policy integration, and implementation capacity. Data were collected through observation, in-depth interviews, documentation studies, and policy document analysis, and were supported by data on investment targets and investment realization in Lebak Regency for 2021-2025 as well as Investment Activity Report (LKPM) data for 2020-2025. The findings show that the achievement of regional investment targets in Lebak Regency reflects a relatively functioning practice of Multi-Level Governance, particularly through the distribution of authority across levels of government, the linkage between central and local policies, coordination across regional government agencies, the support of local investment regulations, and the basic capacity to implement investment policies. However, the study also finds that regional investment governance still faces challenges in terms of investment target synchronization, consistency of intergovernmental coordination, effectiveness of policy integration, and institutional capacity to diversify the investment structure, particularly in attracting Foreign Direct Investment (FDI). This study emphasizes that the achievement of regional investment targets should not be understood merely in terms of the nominal value of investment realization, but also as the outcome of a multi-layered governance system that shapes the effectiveness of regional investment policy.