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This paper aims to create a scientific framework of productive waqf as an alternative financing of business expansions for BUMDes (Badan Usaha Milik Desa). The design of this research is a literature study on theories related to waqf, productive waqf, and rural development. This study finds literacy facts that waqf is a financial source commonly used by Islamic governments in the past. Then, this paper details a concept of productive waqf as an financing alternative to BUMDes's business expansion, and a systematic model can be formed, which may be a consideration for government policies regarding BUMDes governance, and it is hoped that the application of these findings can provide great benefits for people in rural areas. This finding is expected to be a reference in the framework of scientific thinking in realizing productive waqf as an alternative financing for business expansion from BUMDes and can provide expansive benefits for people in rural areas. Penelitian ini bertujuan untuk membuat suatu kerangka ilmiah konsep wakaf produktif sebagai alternatif pembiayaan ekspansi usaha dari BUMDes. Desain penelitian ini adalah studi kepustakaan mengenai teori-teori yang terkait dengan wakaf, wakaf produktif, serta pembangunan pedesaan. Penelitian ini menemukan fakta literasi bahwa wakaf merupakan sumber finansial yang lazim digunakan oleh pemerintahan Islam di masa silam. Oleh karena itu, penelitian ini kemudian memperinci konsep wakaf produktif sebagai alternatif pembiayaan BUMDes, hingga terbentuk suatu model yang sitematis, bisa menjadi pertimbangan kebijakan pemerintah mengenai tata kelola BUMDes. Sehingga model wakaf produktif dapat menjadi pengembangan terhadap jenis usaha yang dijalankan oleh Badan Usaha Milik Desa, dengan berpatokan kepada tujuan dan prinsip wakaf produktif. Temuan Penelitian ini diharapkan dapat menjadi acuan dalam kerangka berpikir ilmiah dalam mewujudkan wakaf produktif sebagai alternatif pembiayaan ekspansi usaha dari BUMDes dan dapat memberikan manfaat yang besar bagi masyarakat di pedesaan.

The public enterprise sector has shown an increasing trend in many countries. As the public enterprise sector competes with the private sector for the limited resources, it becomes paramount to evaluate the effects of undertaking the productive activity under public ownership as opposed to private ownership. The scope of this dissertation is the economic efficiency of public enterprises. The analyses attempt to identify the role of alternative institutional arrangements on the behavior of decision-makers. This attempt is based upon the proposition that differences in the underlying structure of property rights within firms affect systematically the choices of utility maximizing managers. The economic efficiency of public enterprises is viewed from two perspectives. On the "demand-side" the pricing behavior of public enterprises is analysed by examining the impacts of public ownership on manager-politicians. On the "supply-side," the choice concerning the employment of productive factors is analysed by examining the impacts of alternative forms of property rights on the decision-makers involved. In both cases the analyses imply that the lack of an enforceable specification in the manager-voter contract regarding the performance of-public enterprises can lead to political manipulations of these enterprises which, in turn, can retard economic efficiency. ; Ph. D.

PurposeThis paper addresses the social value of commercial enterprises that are jointly owned by a government and private sector investors and where the shares are listed on a stock exchange: thus, "listed public–private enterprises" (LPPEs). The theoretical part of the paper addresses how differences in ownership patterns influence the behavior and performance of LPPEs.Design/methodology/approachWe develop a conceptual taxonomy, drawing on the empirical evidence on the behavior and performance of public–private hybrid enterprises and on the application of agency theory to that evidence. The taxonomy discussion predicts how different ownership patterns affect enterprise productive efficiency and the ability of governments to achieve social goals through LPPEs. We review the empirical literature on government enterprise ownership and on the concentration of private share ownership to deduce how these matter for owner and managerial behavior and productive efficiency. We review the literature that considers the informational content that listing of an enterprise's shares on a stock exchange can provide to enterprise owners, managers and other domestic audiences with a policy interest. We employ a social welfare perspective to derive policy implications as to when the LPPE governance structure is most appropriate.FindingsWe show how the monitoring and performance weaknesses of state ownership are offset by some private ownership, particularly when combined with listing on a stock exchange. We demonstrate the effects of different governance structures on enterprise productive efficiency. We find that the LPPE structure is particularly appropriate as an alternative to nationalization or to full privatization and regulation of natural monopoly public utilities, and as an alternative to full private ownership and taxation of non-renewable natural resource extractive enterprises.Originality/valueThis paper explicitly addresses the question of why and how the combination of government ownership, private investor ownership and listing on an exchange is socially valuable in providing information on productive efficiency to governments.

Purpose
The purpose of this paper is to elaborate an empirical model of how small, family-owned companies can overcome the barriers that have been shown in different disciplines to hinder the implementation of lean production in this category of enterprises.


Design/methodology/approach
A multiple case study involving five carefully selected small manufacturing firms operating in Northern Italy was conducted through interviews with key managers and visits inside plants. This data was integrated by a specific seminar and by interviews with unions and training specialists.


Findings
The resulting empirical model highlights the significance of social relations among small entrepreneurs in overcoming any lack of commitment towards lean changes, the role of consultants and practical training in breaking the barrier of resource constraints and the channelling and control of employee involvement to encourage their participation in lean activities. Unions, when present, also play a role in preventing situations of excessive work intensity. Important variants within this common model also emerged among small firms on the grounds of their structure (e.g. size), product market conditions and managerial choices.


Practical implications
Knowledge on how to overcome the barriers to lean production implementation can help social actors both inside and outside of differently characterised small firms which are implementing, or intending to implement, the lean approach.


Originality/value
There is no existing literature on the subject of successful application of lean methods in small enterprises. The uniqueness of this paper's contribution is reinforced by its broad analytical perspective on the lean system, stemming from an interdisciplinary analysis of different bodies of literature, including management, operations, human resources and employment relations in line with the definition of the lean system.

A review of neoclassical & radical trends of thought on the justification or rejection of capitalist work organizations. US radical economists, heavily influenced by Karl Marx, view hierarchical organization as a design to obtain maximum worker effort with minimum pay, denying that any true economies or efficiencies are realized in the capitalist system. Neoclassical writers, in contrast, view centralized authority & the control over work as a prerequisite for efficiency, providing a limited justification for capitalism. An analysis of nine works by US social scientists with widely varying political & economic beliefs shows that the concept of liberty combined with efficiency is a key topic in all their value systems. The radicals view capitalism as necessarily oppressive, while the neoclassicists point to capitalism as the product of essentially voluntary agreements. Thus, problems of authority, obligation, liberty, & consent are not only political issues, but also economic ones. M. Meeks.

In late 1994, it became known that around two‐thirds of the state‐owned enterprises in China were running at a loss or yielding no profit. For more than a decade, China has been searching for a management system for state‐owned enterprises to improve their efficiency. Various 'contract responsibility systems' have been tried. This paper studies the productive efficiency of enterprises and the impact of various types of management system on productive efficiency. A better understanding of past experiences should enable management reform to move ahead on solid ground. This study is particularly meaningful in view of the present bleak future of state‐owned enterprises.