Good Corporate Governance Summary
THEORITICAL REVIEW
Good Corporate Governance
The concept of Good Corporate Governance (GCG) is a concept that is time to be implemented in companies that exist in Indonesia, because through the concept of the structure of the company, which consists of elements of GMS, directors and commissioners can be established relationships and working mechanisms, , Harmonious authority and responsibility, both internally and externally with the aim of increasing the value of the company for the benefit of shareholders and stakeholders.
GCG is needed to encourage the creation of an efficient, transparent and consistent market with laws and regulations. The implementation of GCG needs to be supported by three interconnected pillars, namely the state and
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Corporate governance also includes the relationship between the involved stakeholders and the company 's management objectives.. There is also another side that is the subject of corporate governance, such as a stakeholder point of view that points attention and accountability to other parties other than shareholders, such as employees or the environment (Haidar, 2009). The essence of corporate governance policy is that the parties who play a role in running the company understand and perform functions and roles according to authority and responsibility. Parties that act include shareholders, boards of commissioners, committees, directors, heads of units and employees. Principles in Good Corporate Governance (GCG)
In Act No. 40 of 2007 by the Ministry of Law and Human Rights of the Republic of Indonesia on Limited Liability Companies and Good Corporate Governance principles in running the company, and in the Decree of the Minister of SOEs Year 2002 on the principles of Good Corporate Governance must reflect On the following matters:
A) Transparency,
B)
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According to Daniri (2005) there are two factors that play a role, external and internal factors. External Factors are several factors that come from outside the company that greatly affect the successful implementation of GCG. Among them are: a) The existence of a good legal system so as to ensure the validity of the rule of law is consistent and effective. B) support the implementation of GCG from the public sector / government institutions that are expected to also implement Good Governance and Clean Government towards the actual Good Governance. C) There are examples of the best practices of GCG (best practices) that can become effective and professional standards for the implementation of GCG. In other words, a kind of benchmark (reference). Internal factors are the drivers of successful implementation of GCG practices that come from within the company. Some of these factors include: a) the existence of corporate culture (corporate culture) that supports the implementation of GCG in the mechanism and system of management work in the company. B) the various rules and policies issued by the company refer to the application of GCG values. C) the company 's risk control management is also based on GCG standard rules. D) the establishment of an effective auditing system within the company to avoid any possible deviations. E) the disclosure of information to the public to be able to
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