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All Journal Masalah-Masalah Hukum LAW REFORM Brawijaya Law Journal : Journal of Legal Studies Al-Ihkam: Jurnal Hukum dan Pranata Sosial Lex Scientia Law Review Jambe Law Journal Jambura Law Review Indonesian Journal of Advocacy and Legal Services Journal of Law, Society, and Islamic Civilization Journal of Law and Legal Reform Pandecta : Jurnal Penelitian Ilmu Hukum (Research Law Journal) Indonesian Journal of Advocacy and Legal Services JILS (Journal of Indonesian Legal Studies)
Pati, Umi Khaerah
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Religion Humanities Law, Crime, Criminology & Criminal Justice Social Sciences

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Journal : Pandecta : Jurnal Penelitian Ilmu Hukum (Research Law Journal)

 1 
Can Dual-Class Shares Thrive in Indonesia’s Capital Market? A Legal Comparison with Asia’s Financial Powerhouses Pati, Umi Khaerah; Pratama, Anugrah Muhtarom
Pandecta Research Law Journal Vol. 19 No. 2 (2024): December (2024)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/pandecta.v19i2.4978

Abstract

The introduction of dual-class shares (DCS) in Indonesia, particularly for technology startups, aims to foster innovation and enhance market competitiveness by allowing firms to retain control while accessing capital. This study investigates the implementation of multiple voting shares (MVS) within the DCS framework as outlined in POJK Number 22/POJK.04/2021, analyzing its effectiveness in Indonesia compared to other Asian financial hubs like Hong Kong and China, and offering a comparative legal analysis with the United States and Singapore. The findings reveal that despite the potential of DCS, Indonesia’s capital market faces challenges, including the reluctance of companies to adopt this structure due to stringent requirements such as market capitalization and audited revenue, which often impede startups from going public. In contrast, countries like the United States and Singapore have adopted a more flexible approach, omitting such requirements, making the DCS model more attractive. The research underscores the urgency for Indonesia to reconsider its regulatory approach to technology startups and capital market access. The novelty of this study lies in its comparative analysis across diverse jurisdictions, identifying legal and regulatory barriers to the successful adoption of DCS in Indonesia. This study contributes to the discourse by proposing a hybrid regulatory approach, suggesting that market capitalization and audited revenue should only be considered when sustainability points cannot be quantified, as practiced in the United States and Singapore. Such a shift could help Indonesia foster a more dynamic and inclusive capital market, encouraging the growth of technology startups while maintaining investor protection and market stability.
Toward Equal Access to Justice: Can Regulating Attorney Fees Ensure Fairness and Broaden Legal Access in Indonesia? Utami, Nurani Ajeng Tri; Sudrajat, Tedi; Wahyudi, Setya; Pati, Umi Khaerah
Pandecta Research Law Journal Vol. 19 No. 2 (2024): December (2024)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/pandecta.v19i2.8316

Abstract

In Indonesia, the role of attorneys in resolving legal issues is indispensable, yet the absence of standardized attorney fee regulations has led to significant barriers in accessing legal services. Despite attorneys' rights to receive fees for their services, the lack of clear guidelines has resulted in public perception that hiring legal representation is a luxury, with many unable to afford it. This study explores the urgent need for state regulation of attorney fees to ensure fairness and broaden access to justice for all segments of society. The findings indicate that the lack of fee standardization contributes to inequities in the legal system, creating barriers for lower-income individuals to access legal assistance. Furthermore, it reveals that establishing a clear regulatory framework would provide legal certainty, protect consumers, and promote a more equitable system for all citizens. The novelty of this research lies in its exploration of attorney fees as a critical element in improving access to justice in Indonesia, framing the issue beyond economics and highlighting its social justice implications. By addressing the urgency of regulating attorney fees, the study contributes to the ongoing legal reform discourse, providing policy recommendations for creating a fee structure that balances fairness with professional responsibility. The research emphasizes that deliberative processes, considering factors such as case complexity, impact, and operational costs, should guide the determination of fees. Ultimately, the study presents a compelling argument for rethinking how attorney fees are regulated to ensure that justice is accessible to all, not just the wealthy.
Co-Authors Asror, Muhammad Hanif Bajrektarevic, Anis H. Bambang Santoso DARA PUSTIKA SUKMA Dwi Budi Santoso Hendriana, Rani Indrajat, Heri ITOK DWI KURNIAWAN Jamal Wiwoho Kukuh Tejomurti, Kukuh Mellisa Towadi Mohamad, Mohamad Hanapi Bin Pambudi, Lintang Ario PRANOTO Pranoto Pranoto Pratama, Anugrah Muhtarom Pujiyono Pujiyono Setya Wahyudi Tedi Sudrajat Utami, Nurani Ajeng Tri Weda Kupita