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The purpose of this paper is to build on recent analysis of sustainable vulnerability reduction of the Government of Indonesia tsunami rehabilitation and reconstruction plan by applying a sustainable livelihood framework for disaster risk management (DRM) for improvement in understanding potential livelihood strategies for the specific context of vulnerable people previously involved in fisheries livelihoods in Aceh.

Brief discussion of the preliminary findings of the work of Salim reveals the recommendation of further examination within a sustainable livelihoods DRM framework. Thus, after development and exposition of this framework, interviews and secondary research allow brief description of the context in which livelihood strategies might be implemented.

By combining the preliminary assessment of resource provisions with discussion of the institutional and vulnerability context of fisheries activities, preliminary recommendations of important considerations in developing appropriate vulnerability‐reducing livelihood strategies are listed under the categories of resource provisions.

This paper should be valuable to researchers interested in further development of applicable DRM models and to government and non‐government agencies interested in the effectiveness of assistance in achieving long‐term sustainable livelihood and sustainable development goals.

The purpose of this paper is to investigate whether the presence of controlling shareholder affects the value of diversification based on Indonesian listed firms. It further examines whether the degree of controlling ownership and the types of controlling ownership matter.

Panel data were used over the period 2006-2010 with dynamic generalised method-of-moments estimations and it defined diversification as industrial diversification, international diversification or diversification in both. A few different thresholds for the control rights of the largest shareholder are also set.

The results show that industrial diversification improves firm value but international diversification does not, while diversified in both strategies discounted firm value. The presence of a controlling shareholder is found to have a significant diversification discount, and the effect is nonlinear, where the entrenchment effect occurs around 20 to60 per cent threshold of controlling across all types of diversified firms. Last, foreign firms are found to enjoy more value from industrial diversification, but it takes an adverse turn when these involve both diversification strategies. Government firms do not seem to be different from family firms.

The study shows the need to differentiate diversification strategies and account for non-linearity and ownership identity in modelling diversification value. Also, the degree of shareholders’ control can be a significant channel to address the agency issue on diversification value.

Under the backdrop of unique Indonesian corporate ownership, the presence of controlling owners is shown, and their ownership affects the value of diversification. The entrenchment effect however appears only at a certain range of ownership. This is a crucial guide for the shareholders to ensure an appropriate monitoring system is installed to maximize the shareholder’s value, especially in family firms.

The value of this paper is twofold. At first, the first empirical evidence on the diversification debate with Indonesian firms for its unique institutional setting is presented. Second, the standard modelling framework to investigate the types of ownership on diversification value is extended, which has rarely been covered in previous investigations.