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All Journal Efficient: Indonesian Journal of Development Economics
Achmad Syukri Prihanto
Sekolah Tinggi Pembangunan Masyarakat Desa “APMD”
Economics, Econometrics & Finance

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Enhancing Local Government Revenue Through Municipal Enterprises: A Case Study of Taman Satwa Taru Jurug Zoo Achmad Syukri Prihanto; Adji Suradji Muhammad; Ika Alicia Sasanti; Joachimu Stanley Machimu
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.44571

Abstract

This study examines how the implementation of Good Corporate Governance (GCG) principles functions as a strategic instrument for improving the financial performance of a Regional-Owned Enterprise (BUMD), particularly in increasing Regional Original Income (PAD). This study is urgent as it addresses governance challenges faced by traditional BUMDs transitioning into modern, partner-managed tourism enterprises. This study employs a qualitative descriptive approach, utilizing in-depth interviews with key management personnel and stakeholders, complemented by document analysis of regulatory frameworks, financial reports, technical proposals, and official publications related to the revitalization process. The data were analyzed to assess how each GCG principletransparency, accountability, responsibility, independence, and fairnesswas operationalized in the company’s strategic decisions and management practices. The findings reveal that transparency in decision-making and partnership arrangements increased public trust, accountability enhanced operational efficiency, and responsibility strengthened long-term business sustainability. Furthermore, independence allowed management to make objective and professional business decisions without undue political or external intervention, fostering healthier relationships among stakeholders.
Co-Authors Adji Suradji Muhammad Ika Alicia Sasanti Joachimu Stanley Machimu