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Examines one of the most important reforms relating to public enterprise (PE) policy in India, namely divestment of their share‐holdings. Discusses the philosophy, process, organizational mechanism, expectations and outcomes of divestment in PEs. Finally, points out the major weaknesses retarding the success of the newly introduced divestment policy and outlines some reformatory measures to overcome them. As a backdrop, presents the historical background, current scenario, and problems and performance of PEs in India, but has been restricted to the central PEs, i.e. enterprises owned and managed by the central government only.

This paper aims to investigate the drivers of foreign direct divestment (FDD), how it relates to foreign direct investment (FDI) flows and stocks and its implications for developing countries. While divestment occurs for various reasons, it can be explained by reversing the propositions implied by FDI theories.

The authors combine FDI data and FDI theories to provide theoretical explanations for FDD and what it means for developing countries. FDI stock and flow data are used to derive inferences on trends in FDD and examine the implications of FDI theories on FDD.

Changes in the modes of global production and the rise of COVID-19 have reinforced the trend of stagnant or diminishing FDI flows observed since the global financial crisis, with implications for FDD. The authors demonstrate how the various FDI theories can be used to explain FDD, except for the currency areas hypothesis. By reviewing the costs and benefits of FDI, it is concluded that shrinking FDI flows and stocks may not be as detrimental for developing economies as it is typically portrayed.

The paper uses two original approaches to measure and explain the motives for FDD. The first is a reassessment of FDI theories in a way that makes them valid theories for FDD. The second original approach is to interpret data on FDI flows and stocks to imply the trends governing FDD, which is useful, as data on foreign divestment are not available on a country or regional basis.

Development Banks (DBs) are specialized financial institutions created for the purpose of balanced industrialization. A development bank has to act more as a promotional agency than a mere financial institution. Therefore separate institutions have been set up, namely State Industrial Development Corporations (SIDCs) in almost all the states in India for undertaking promotional activities. With the growing role of Development Banking in India, the SIDCs are facing financial hardships as they are wholly dependent on Government grants. The paucity of funds for SIDCs has prompted them to opt for divestment of their shareholdings from the existing units to recycle the funds for increasing industrial promotion. Divestment decisions are concerned with the quantum and timing of divestment and the determination of share prices for this purpose. SIDCs are different in that their divestment decisions need not be primarily guided by economic factors (capital appreciation). Highlights the divestment policy and share evaluation models adopted by a development bank, namely Andhra Pradesh Industrial Development Corporation Ltd, which is basically responsible for transforming an agrarian Indian state (Andhra Pradesh), into a moderate industrial organization.

The purpose of this paper is to determine how macroeconomic performance work with institutional quality influences divestment of foreign direct investment (FDI) in Sub-Saharan Africa, in the short and long run.

This paper investigates divestment of FDI in Sub-Saharan Africa, within the period 1980–2020. The investigation is undertaken by first comparing the trend with what is obtained in other economic regions of the world. The factors behind the divestment are subsequently investigated, using the vector error-correction model.

In the comparative analysis, Sub-Saharan Africa and other regions are observed to have witnessed sustained divestment in recent years. The estimation results of the model reveal that macroeconomic performance and institutional quality are the predominant drivers behind the divestment.

The findings, however, do not conform to the neoclassical theory that lays emphasis on investment return as the fundamental factor influencing investment. Long-run structural stability is also established; hence, the results may be considered suitable for predicting future divestment in the region.

In view of the empirical findings, macroeconomic performance and institutional quality need to be improved to ameliorate FDI divestment in Sub-Saharan Africa.

There is paucity of research works on divestment of FDI in Sub-Saharan Africa. Again, there is paucity of works on how macroeconomic and institutional conditions work together to influence divestment. This study provides some evidence to bridge the perceived gaps.

The purpose of this paper is to address the corporate governance implications of the US terror‐free investment screens, instituted both legislatively and voluntarily, on the operations of non‐US multinational corporations (MNCs) concerning international trade and foreign direct investment with nations designated as “State Sponsors of Terrorism.”

After a brief introduction to the issue of “terror‐free lists” and investment indexes and divestment screens, the paper summarizes the US Federal and State Laws pertaining to state sponsors of terrorism and their direct impact on international trade and investment transactions. The third section evaluates the success of environmental, social, and governance (ESG) indexes and investment screens compared to standard market investment indexes. The fourth section discusses the potential effects of terror‐free stock indexes and divestment (“social”) screens on corporate governance of non‐US corporations. In the final section, the paper offers business policy recommendations concerning international trade and foreign direct investment decisions and the listing of equity stock on the US financial market exchanges, and offer scholarly research questions addressing this issue.

Non‐US MNC managers should recognize, first, the importance of global corporate citizenship and reputation; second, the expansion of terror‐free investing criterion in ESG investment indexes and divestment screens; and third, the growth in the number of state government prohibitions on investing funds with foreign MNCs complicit with terror‐sponsoring states.

Exploratory in nature, this seminal paper evaluates an issue of emerging importance to non‐US MNC managers and directors concerned with potential political and economic repercussions of their international trade and foreign direct investment decisions.

The move to divest many of the Crown corporations in Canada over the last seven years has had far‐reaching economic and social effects. Since divestment's inception, however, little research has attempted to examine some of the managerial and organizational implications of these policies; in effect, to determine whether or not divested (and other private) companies actually do operate in a more proactive and innovative manner than do Crown corporations. This article reports on a recent exploratory study that compared the processes by which new innovations are implemented in Canadian Crown and private corporations. It also assesses the impact of a number of external environmental factors on private firm and Crown operations. The results suggest that private firms do differ from Crown companies in that privatized organizations tend to show a greater willingness to take risks in developing new innovations and offer significantly greater rewards for innovative approaches and behaviors than do Crown corporations. Implications for encouraging future innovative behavior among both Crown and private firms are discussed.

Division managers in multi‐division, production organizations often focus primarily on their division's interests and goals and as a result may not be well motivated or equipped to formulate optimal, company‐wide policies. In this case study, a new CEO decided to deal with ambiguous, company‐wide policy issues such as pricing, product portfolios, market position, and communication across independent divisions, by installing a parallel organization composed entirely of line managers from different divisions and functions. This paper aims to examine the parallel organization concept and how it was applied, installed and operated to greatly benefit the firm.

The case describes the operation and outputs of the parallel organization based on data gathered from interviews of managers and detailed analysis of proposed issues and policies formulated over a five‐year period.

The firm's performance improved significantly as the parallel organization generated policies for costing and pricing products, removing products from the product line, positioning in global markets, and enhancing strategic planning. In addition, the parallel organization sharpened management's analytic and decision skills.

The accuracy of the data and its interpretation and analysis was reviewed and confirmed by management.

This case shows how using a parallel organization, in place of the common practice of staff analysis or consultant investigation, can improve a firm's critical policies, profitability, and orientation to its future environment while better integrating independent divisions.

This is a unique, in‐depth examination of the design and operation of a parallel organization to achieve strategic policy changes and improved communication in a multi‐division firm.

This study aims to discover the role of accounting and media in hegemonic discourse for divestment valuation of PT Freeport Indonesia shares.

This study employs data from 608 news articles from 5 national media. This study uses Gramsci's concept of hegemony and Laclau and Mouffe's hegemonic discourse to explore the ideological role of accounting in the formation of historical blocs and investigate the contestants' discursive strategies through the chains of equivalence and difference.

The incumbent presidential candidate, by involving political and intellectual actors, has succeeded in taking over and shifting PT Freeport Indonesia's hegemony to maintain its power, through the ideology of divestment and accounting. The media played a role in the victory of the pro-divestment bloc in the hegemonic divestment discourse contest. The pro-divestment bloc's discursive strategy uses more formal and technical language styles than the anti-divestment bloc, which uses informal language styles. The pro-divestment bloc uses the key signifiers of low price, improved financial performance, nationalization and welfare, as opposed to the anti-divestment bloc, with the key signifiers of high price, declining financial performance and neoliberalist colonization.

The implications of this research may encourage accounting academics to contribute to emancipatory social movements in the struggle for hegemony. The implication for policy makers is the importance of involving the public, intellectual actors, political actors and the media in supporting diverse state strategic policies in the national interest.

This paper contributes to Gramsci's theory of hegemony and Laclau and Mouffe's hegemonic discourse to understand the role of accounting and media in a nationalization project as an emancipatory social movement, as well as a hegemonic shifting political movement.

From the 1960s onwards, students and members of the academic community on growing numbers of college and university campuses in the United States chose to confront the issue of apartheid by advocating divestment from corporations or financial institutions with any sort of presence in or relationship with South Africa. Student divestment advocates faced serious opposition from university administrators as well as opponents of institutional divestiture both at home and abroad. Despite these challenges, the academic community in the United States was one of the first arenas where anti-apartheid activism coalesced. This chapter examines the campaigns of students and educators who participated in the debate over divestment – to engage with the South African government and apartheid through dialogue and communication or to disengage completely from the country through withdrawal of financial investments. The anti-apartheid efforts of the academic community at Michigan State University, one of the first large research universities in the United States to confront the issue of apartheid and divestment at the university level and beyond, serves as a window to view academic activism against apartheid. The Southern Africa Liberation Committee (SALC), a consortium of students, faculty, and community members dedicated to aiding the liberation struggle of Southern Africa, led the efforts at Michigan State and collaborated with allies across Michigan and the United States. SALC focused most of its efforts on South Africa, though the organization also confronted the issue of South Africa's controversial occupation of South West Africa and the ongoing civil war in Angola.

This paper aims to enhance empirical research on foreign divestment and international relocation by multinational firms are still limited and understudied, although these issues have been a frequent phenomenon and carry important economic implications.

The paper investigates the trends of foreign divestment in South Korea and examines firm- and host country-level determinants in total, manufacture and service sectors from 2010 to 2019.

Using probit model analysis, the main findings are first, among the firm-level factors, sales revenue and parent firm dummy are shown as negative and significant determinants of foreign divestment especially in manufacturing sector. Second, among the country-level factors, gross domestic product growth rate and regulatory quality that measures perceptions of sound policies that promote private sector development are shown negative and significant determinants of foreign divestment. On the other hand, relationship between the environmental policy stringency and foreign divestment is shown positive and significant.

The results suggest that these nonfirm-specific characteristics are also important factors in firm decision to divest from the host country.