Melbourne Law School - Theses

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    Good corporate governance in Indonesia- where to from here?
    Resdiano, Inge ( 2001)
    Poor corporate practices (despite Law number 1 of 1995 concerning Limited Liability Companies), capital market and stock exchange rules, and a dismal record of law enforcement are cited by many quarters of the society as the main culprits for Indonesia's corporate ills. The issue raised by this paper is reform to Indonesia's corporations statutes; regulatory body and judicial system to establish a strong foundation for good corporate governance. This reform is only possible if one has a clear understanding of what the term `corporate governance' means; the elements of good corporate governance; the parties that play a role in creating and maintaining a good standard of corporate governance; and, most importantly, the benefits a country and its people may reap by adopting and adhering to the principles of good corporate governance. All these issued will be addressed in part II of this paper. Part III will deal with real cases arising from poor corporate practices; weak and, to a certain extent, incompetent regulatory bodies; a corporate and security registration system which fails its purpose; and judiciary which is yet to gain the respect of people it serves for its competence and independence. Part IV will be a look at the most common form of corporations currently in existence in Indonesia; their governing regulations; regulatory bodies; and how they actually operate in practice. A proposal for reform of those regulations and other related regulations; regulatory bodies; and the judicial system will be outlined in part V of this paper with part VI deals with conclusion.