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All Journal AKADEMIK: Jurnal Mahasiswa Ekonomi & Bisnis
Primus Arvel Priandika
Universitas Brawijaya
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Analisis Kebangkrutan PT Sri Rejeki Isman Tbk dalam Perspektif Etika Jawa Franz Magnis-Suseno Primus Arvel Priandika
AKADEMIK: Jurnal Mahasiswa Ekonomi & Bisnis Vol. 6 No. 3 (2026): AKADEMIK: Jurnal Mahasiswa Ekonomi & Bisnis
Publisher : Perhimpunan Sarjana Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37481/jmeb.v6i3.2151

Abstract

Corporate bankruptcy is commonly examined from financial and legal perspectives, while its ethical dimension remains underexplored, particularly within Indonesia's socio-cultural context. This study aims to analyze the bankruptcy of PT Sri Rejeki Isman Tbk (Sritex) by examining how ethical failure contributed to corporate collapse through the perspective of Franz Magnis-Suseno's Javanese Ethics. A qualitative case study approach was employed using secondary data collected from academic literature, court decisions, official reports, and credible media publications. Data were analyzed through document analysis following the interactive model of Miles, Huberman, and Saldaña, supported by source triangulation to enhance credibility. The findings indicate that the bankruptcy of Sritex was closely associated with systematic ethical failure reflected in financial statement manipulation, abuse of authority, collusion, and fraudulent practices. These actions contradicted the Javanese principles of harmony (kerukunan) and respect (hormat), which were distorted to preserve a false image of organizational stability and justify unethical decision-making. This study demonstrates that Javanese Ethics provides a relevant analytical perspective for explaining corporate fraud beyond conventional governance and financial approaches, while highlighting the importance of ethical leadership in sustaining organizational integrity.
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