The Transparency Principle in Realize Good Corporate Governance: Limited Company

Abstract

ABSTRACT:-The transparency principle of limited company is required to increase the confidence, support, and participation of stakeholders or all parties concerned with the company. Function and authority of company organ needs to be done in a transparent manner to achieve Good Corporate Governance. This study was a sociojuridical research, in the field of civil law, particularly with regard to corporate law. The populations of this study are directors, shareholders, commissioner, consumers in the form of a limited company in South Sulawesi province. The samples are part of population and it determined by purposive technique. The results shows that basic concepts of transparency were an attitude or action of the company to disclose entire business and information material about the effects that can affect the decisions of investors or other stakeholders. Information disclosure is determined by three factors: clear, accurate, and timely. These third determines the quality of information presented by the company. The level of transparency tends to be higher in term of nonfinancial information, but instead tend to be closed when it comes to financial information, particularly on the closed company or not a public company.

The business management of the village government in managing Village Owned Enterprise

“…According to Fung (2014), transparency could be achieved if the company has open and fast access to the information needed by the society in order to build trust. Lumentut et al (2017) stated, from his previous research results, that transparency is a company commitment which is characterised by an attitude or action that discloses all business material and information regarding the impacts that can influence the decisions of investors or other stakeholders. The research findings conducted by Subandi (2016) show that the heads of the villages have an important role in motivating the community, providing information relating to the development of the right community and giving examples as leaders.…”

Implementation of Good Corporate Governance to Support the Defense Industry

“…Independence is a condition where the company is managed professionally without conflict of interest and influence/pressure from management that is not by applicable laws and regulations and sound corporate principles. Fairness is also related to fair and equal treatment in fulfilling the rights of stakeholders that arise based on agreements and applicable laws and regulations (Lumentut, et. al., 2017).…”