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All Journal Journal of Sustainable Development and Regulatory Issues Jurnal Ad'ministrare: Jurnal Pemikirian Ilmiah dan Pendidikan Administrasi Perkantoran
Jatna, R. Narendra
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Humanities Decision Sciences, Operations Research & Management Education Environmental Science Law, Crime, Criminology & Criminal Justice Public Health Social Sciences

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Strengthening the Business Judgment Rule in Indonesia: Lessons from Malaysia Jatna, R. Narendra; Amir Firmansyah; Hasbullah; Muhammad Umar Bin Abdul Razak
Journal of Sustainable Development and Regulatory Issues (JSDERI) Vol. 3 No. 3 (2025): Journal of Sustainable Development and Regulatory Issues (JSDERI)
Publisher : Lembaga Contrarius Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53955/jsderi.v3i3.157

Abstract

The Business Judgment Rule (BJR) serves as a fundamental doctrine in corporate law, protecting company directors from personal liability when they act in good faith, exercise due diligence, and avoid conflicts of interest. However its recognized importance in safeguarding directors’ discretion, Indonesian lawmakers and courts have not fully developed its application, as shown by limited statutory codification, inconsistent judicial interpretation, and insufficient empirical analysis, thereby hindering coherent corporate governance and generating uncertainty in directors’ decision-making authority. This study analyzes the implementation of the BJR in Indonesia through a comparative lens with Malaysia. Using a normative and comparative legal approach, the research reveals that Indonesia’s current framework lacks clarity, comprehensive codification, and consistent judicial interpretation particularly in the private sector. The research findings demonstrate that, first, the implementation of the Business Judgment Rule (BJR) in Indonesia remains constrained by procedural ambiguity, which undermines consistent and predictable enforcement. Second, the allocation of the burden of proof lacks clarity, thereby weakening both the protection afforded to directors and the reliability of judicial determinations. Third, institutional support for the practical application of the BJR is insufficient, limiting its capacity to promote effective corporate governance. In response, the study recommends comprehensive reform of the Indonesian Company Law, the incorporation of safe-harbor provisions, the enhancement of judicial competence through specialized training, and the reinforcement of corporate governance mechanisms to improve legal certainty and strengthen directors’ accountability. Advancing the BJR framework is essential to encourage innovation, reduce legal risks, and enhance the competitiveness and resilience of Indonesia’s corporate sector.
Analysis of Legal Benefits in Handling Corruption and Capital Market Cases of PT. ASABRI Jatna, R. Narendra; Ebenezer, Timotius Benjamin
Jurnal Ad'ministrare: Jurnal Pemikirian Ilmiah dan Pendidikan Administrasi Perkantoran Volume 11, Issue 2, 2024
Publisher : Pendidikan Administrasi Perkantoran, Universitas Negeri Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.71309/administrare.v11i2.4042

Abstract

This study aims to analyze the legal limitations in handling the PT ASABRI case which has the dimensions of corruption and capital market crimes. The focus of this study is that the prosecutor's office as investigator and public prosecutor in prosecuting the PT ASABRI case is required to make a choice in prosecuting the PT ASABRI case, namely choosing between the mechanism of corruption or capital market crimes. The prosecutor's office is faced with this choice because the PT ASABRI case which caused such fantastic state financial losses was carried out by carrying out a series of actions involving price manipulation on the capital market exchange. The research method used is the doctrinal research method with a prescriptive typology. The data collection technique used in this study is derived from legal prescriptions written in the law book or from documents such as regulations, articles concerning corruption and capital market crimes. Meanwhile, the data analysis technique used is data reduction, data presentation, and drawing conclusions. The results of the study show that the selection of the use of the corruption crime mechanism by the prosecutor's office in handling the PT ASABRI case was appropriate, because it was in accordance with the principle of benefit and the principle of systematiche specialiteit in procedural law.
Co-Authors Amir Firmansyah Ebenezer, Timotius Benjamin Hasbullah Muhammad Umar Bin Abdul Razak