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IMPLICATIONS OF ECONOMIC LAW AND HEALTH LAW ON SANCTIONS FOR PETTY THEFT OFFENDERS IN INDONESIA Gunawan Widjaja
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 6 (2025): JUNE
Publisher : CV. Adiba Aisha Amira

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This study discusses the implications of economic law and health law on sanctions for petty theft offenders in Indonesia with a literature review approach. The adjustment of the minor theft loss limit through PERMA No. 2 Year 2012 from IDR250 to IDR2.5 million reflects the legal response to economic dynamics, aiming to increase the efficiency of law enforcement and reduce the burden on the state budget through the transfer of sanctions from imprisonment to fines or community service. However, the application of health aspects, particularly the mental and socio-economic conditions of perpetrators, has not been formally integrated in the criminalisation system, so perpetrators from vulnerable groups are still at risk of receiving disproportionate sanctions. This research recommends the revision of regulations and technical guidelines that integrate economic and health considerations in determining sanctions, in order to realise a more efficient, fair and humane criminal justice system.
THE SYNERGY OF ECONOMIC LAW AND HEALTH LAW IN HANDLING PETTY THEFT OFFENDERS: A REVIEW OF THE PROTECTION OF BASIC RIGHTS OF OFFENDERS Gunawan Widjaja
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 6 (2025): JUNE
Publisher : CV. Adiba Aisha Amira

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This research discusses the importance of synergy between economic law and health law in handling petty theft offenders, especially in the context of protecting the basic rights of offenders. So far, the handling of petty theft cases in Indonesia is still dominated by conventional criminal law approaches that do not consider economic factors and the health conditions of the perpetrators, especially for those from vulnerable groups. Through a normative legal research method with a literature approach, this study examines legislation, policies, and related literature, such as the Criminal Code, PERMA No. 2 of 2012, and Law No. 11 of 2012 concerning SPPA. The results of the study show that restorative justice and diversion policies are progressive steps in providing protection for the basic rights of offenders, but their implementation still faces various challenges, such as lack of coordination across sectors, limited resources, and not optimal integration of economic programmes and health services in the legal process. This study recommends the need to strengthen synergies between legal, economic and health policies, as well as regulatory updates that are more responsive to the needs of offenders, so that the protection of basic rights can be realised optimally and equitably.
CONTRIBUTION OF PHARMACIES AND PHARMACISTS TO LOCAL ECONOMIC GROWTH AND CONTROL OF PUBLIC HEALTH COSTS Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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Pharmacies and pharmacists play a strategic role in supporting health development while contributing to local economic growth. This study aims to analyse the contribution of pharmacies and pharmacists to the local economy and their efforts in controlling public health costs. Through literature review and descriptive approach, it was found that pharmacies not only provide access to medicines and health services but also create jobs, support micro and small businesses, and increase the income of the surrounding community. On the other hand, pharmacists play a role in educating the public about rational drug use, promoting the use of generic drugs, and conducting efficient patient therapy management. These roles have proven to reduce healthcare costs at both the individual and national levels. Thus, pharmacies and pharmacists not only function as elements of healthcare services but also as agents of economic development and pillars of efficiency in the public healthcare system.
OPTIMISING PHARMACY FINANCIAL MANAGEMENT: THE ROLE OF PHARMACISTS IN IMPROVING EFFICIENCY AND SUSTAINABILITY IN THE PHARMACEUTICAL BUSINESS Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
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Optimising pharmacy financial management plays a crucial role in addressing the challenges of operational efficiency and business sustainability in the pharmaceutical industry amid increasingly competitive market conditions. As the primary managers, pharmacists have strategic responsibilities in planning, controlling, and reporting finances in a transparent and accountable manner. With good financial management—including budget planning, cash flow management, inventory control, and the use of information technology—pharmacists can minimise the risk of waste, maintain operational smoothness, and ensure business profitability. The active role of pharmacists also contributes to improving the quality of pharmaceutical services, the efficient use of resources, and adaptation to pharmaceutical business regulations, thereby becoming a key factor in maintaining the sustainability and competitiveness of pharmacies.
LOCAL BUSINESS DYNAMICS IN THE ERA OF GLOBALISATION: LEGAL UNCERTAINTY, GLOBAL COMPETITION, AND ADAPTIVE STRATEGIES OF LOCAL ENTREPRENEURS Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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This study examines the dynamics of local businesses in the era of globalisation, focusing on the challenges of legal uncertainty, global competition, and the adaptive strategies implemented by local entrepreneurs. Globalisation has opened up opportunities for market access, but it has also increased the risks to the sustainability of local businesses due to the entry of global players who are superior in terms of capital, technology, and networks. Legal uncertainty manifests in various forms, including inconsistent regulatory changes, incompatibility with international law, and weak protection for domestic businesses. Through a literature review, this study identifies that local entrepreneurs address these challenges through product innovation, digital transformation, human resource development, and business network expansion. These adaptive strategies are not only important for maintaining their position in the domestic market but also key to penetrating global markets. Government support in the form of clear regulations, access to technology, and fair legal protection is essential for local businesses to develop sustainably. This study provides insights for business actors, government, and academics to understand the real conditions of local businesses in facing the ever-changing global era.
SYNERGY BETWEEN PUBLIC AND PRIVATE LAW IN REALISING A HEALTHY BUSINESS CLIMATE: A STUDY ON THE IMPLEMENTATION OF THE PRINCIPLE OF BALANCE IN NATIONAL ECONOMIC LAW Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
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This study discusses the synergy between public and private law in creating a healthy business climate in Indonesia, with a focus on the implementation of the principle of balance in national economic law. The synergy between these two areas of law is key to creating an economic system that is fair, efficient, and responsive to the dynamics of the modern economy. The study employs a normative legal method with a legislative approach and literature review, analysing written legal norms as well as relevant doctrines and court rulings. The results of the study indicate that the implementation of the principle of balance is crucial for maintaining the proportion of rights and obligations of parties in economic legal relationships, whether in business agreements, commercial transactions, or macro-level regulations. However, its implementation still faces various challenges, such as unequal bargaining positions, low legal literacy, regulations that are not adaptive, and weak law enforcement. Proposed solutions include strengthening legal literacy, regulatory reform, enhanced oversight, and collaboration between the government, businesses, and the public. Thus, the synergy between public and private law and the implementation of the principle of balance are expected to create a healthy, fair, and sustainable business ecosystem in Indonesia.
BALANCE BETWEEN PUBLIC AND PRIVATE ASPECTS IN ECONOMIC LAW: AN ANALYSIS OF THE ROLE OF STATE REGULATION AND RELATIONS BETWEEN BUSINESS ACTORS IN INDONESIA Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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This study aims to analyse the balance between public and private aspects in economic law in Indonesia, with a focus on the role of state regulation and the dynamics of relationships between business actors. National economic law requires integration between the public interest represented by the state as regulator and the interests of individuals or business entities regulated through private contracts. Through a literature review approach, this study examines various laws and regulations, court decisions, and related scientific literature. The results of the study indicate that state regulation plays an important role in creating a healthy business climate, preventing monopolistic practices, and protecting the rights of consumers and small businesses. On the other hand, relationships between business actors are regulated within the framework of national economic law, which emphasises the principle of freedom of contract while still considering public interests. Synergy between state regulations, business actor compliance, and oversight by relevant institutions is key to creating a fair, inclusive, and sustainable business ecosystem in Indonesia.
PROCEDURES FOR THE LEGAL TRANSFORMATION OF STATE-OWNED ENTERPRISES: A COMPREHENSIVE LITERATURE REVIEW OF THE CHANGE FROM PERJAN TO PERUM OR PERSERO BASED ON ARTICLE 92 OF LAW NO. 19 OF 2003 AND ITS IMPLEMENTATION IN MODERN SOE GOVERNANCE Gunawan Widjaja
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 7 (2026): INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS (IJEFE)
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State-Owned Enterprises (SOEs) underwent a fundamental legal transformation from the form of Government Enterprises (Perjan) to Public Enterprises (Perum) or Limited Liability Companies (Persero) based on Article 92 of Law No. 19 of 2003, which required legal status adjustments through Government Regulations. This normative-doctrinal literature review analyses the transformation procedures—including ministerial policy decisions, the transfer of assets, finances and employees, and the continuation of rights and obligations—as well as their implementation in modern SOE governance through the principles of good corporate governance (GCG). The results show that the transformation has succeeded in increasing operational efficiency and GDP contribution, as in the cases of PT Kereta Api Indonesia (Persero) and PT Pegadaian (Persero), although the challenges of PSO-profit dualism and political intervention remain. This study recommends strengthening SOE holding regulations and GCG certification to support the Indonesia Emas 2045 vision.
RECONSTRUCTION OF STATE-OWNED ENTERPRISE LEGAL REGULATIONS FROM A GOOD CORPORATE GOVERNANCE PERSPECTIVE: NORMATIVE ANALYSIS OF ESTABLISHMENT, OWNERSHIP, AND INSTITUTIONAL TRANSFORMATION BASED ON THE LATEST REGULATIONS FOLLOWING THE JOB CREATION LAW Gunawan Widjaja
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 7 (2026): INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS (IJEFE)
Publisher : CV. Adiba Aisha Amira

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This study provides a normative analysis of the reconstruction of the legal regulation of State-Owned Enterprises (SOEs) from the perspective of Good Corporate Governance (GCG) after the Job Creation Law, focusing on the establishment of new SOEs through a feasibility study of the SOE Supervisory Board, the ownership of dual-class A and B shares by BPI Danantara, and institutional transformation via super holding companies and the Business Judgment Rule as stipulated in Law No. 1/2025 and Law No. 16/2025, which revolutionise the separation of regulatory and operational functions for transparency, independence, and efficiency. The results of the analysis show the alignment of regulations with GCG principles, although disparities still require harmonisation through independent committees and digital reporting, with positive implications for the global competitiveness of SOEs through strategic holding synergies and optimisation of state budget dividends. The study recommends strengthening criminal sanctions for ESG transformation and integration for sustainable governance, serving as a reference for SOE policy-making. regulations.
THE EVOLUTION OF THE LEGAL FRAMEWORK FOR THE ESTABLISHMENT AND MANAGEMENT OF STATE-OWNED ENTERPRISES IN INDONESIA: A COMPREHENSIVE LITERATURE REVIEW ON REGULATORY HARMONISATION, THE ROLE OF THE STATE AS A SHAREHOLDER, AND IMPLICATIONS FOR MODERN CORPORATE GOVERNANCE Gunawan Widjaja
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 7 (2026): INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS (IJEFE)
Publisher : CV. Adiba Aisha Amira

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Abstract

The evolution of the legal framework for the establishment and management of State-Owned Enterprises (SOEs) in Indonesia has undergone a significant transformation from the pre-reform era public law paradigm to a modern corporate model through Law No. 19 of 2003, which was revised by Law No. 1 of 2025. with this comprehensive literature review focusing on sectoral regulatory harmonisation, the role of the state as a controlling shareholder through the Daya Anagata Nusantara Investment Management Agency (BPI Danantara), and the implications for corporate governance based on international Good Corporate Governance (GCG). Harmonisation was achieved through the separation of SOE assets from the state budget under Article 4B and operational holdings under Government Regulation No. 15 of 2025, while the role of the state evolved into professional stewardship with the strengthening of the Business Judgment Rule (BJR) in Article 9F, which protects the autonomy of the board of directors, the independence of 50% external commissioners, and the transfer of auditing to public accountants to increase operational efficiency and global competitiveness. This normative legal study concludes that the reconstruction of these norms supports the optimal contribution of SOEs to the national economy towards Indonesia Emas 2045, with recommendations from the National GCG Centre and regulatory digital synergy.
Co-Authors Aat Ruchiat Nugraha Abadi, Songga Aurora Abd. Basir Abdul Samad Arief Abdul Wahab Syakhrani Abdur Rahman Achmad Fazrin Adi Rumanto Waruwu Adrian Bima Putra Adrian Bima Putra Advitama, Dave Affandi Affandi Agus Supriyanto Agus Supriyanto Agustinus Nugroho Jati Aisyah, Shyavara Alam Anbari Anastasia Prestika Andina Rahmayani Andreani Dewanto Andreas Harry Andreas Harry Anggia Az Zahra Anindita Widyapradnya Annas Tasya N.A Annas Tasya N.A, Annisa Rachmawati, Dsk Putu Ayu L.A, Khaerunnisa Ade P., Muhammad Fachri, Pradita Ajeng S.A Annisa Purwo Hastuti Annisa Rachmawati Ari Rahmat Elsad Arif Rahman Baihaqi Arman Harahap Asep Saepullah Aslan Aslan Aslan Aslan Aswan Athalia Christine L Ayu Miya Maryani B.M.A.S. Anaconda Bangkara Bintan R. Saragih Brian Matthew Budi Suranto Bangun Cecep Suhardiman Cecep Suhardiman Cecep Suhardiman Cesarianti, Fransiska Milenia Chairunnissa Chairunnissa Christiawan, Rio Christina Herawati G Damun, Damun Danang Rahmat Surono Dave Advitama Delia Bazlina Deny Wicaksono, Deny Dhanudibroto, Handojo Dheas Syahreza Muslim Diana ., Diana Diana Laila Ramatillah Dimas Tripraditiya Dipo Pramudito Dipo Pramudito Dsk Putu Ayu L.A Dumilah Ayuningtyas Dyah Ersita Yustanti Dyah Ersita Yustanti Dyah Ersita Yustanti Dyah Ersita Yustanti Dyah Ersita Yustanti Ekasari, Silvia Ekha Sri Sugiarti Elisabeth Purnama Massang Enna Budiman Enna Budiman Ersita Yustanti, Dyah Fachrurazi Farika Nikmah Farrel Abiyu Ramadhana Fitra Sri Rahayu Grace Riana H. Deni Salahuddin Hadenan Towpek Hadenan Towpek Halim , Adriansyah Handojo Dhanudibroto Handojo Dhanudibroto Handojo Dhanudibroto Handojo Dhanudibroto Hansel Kalama Hardijan Rusli, Hardijan Harry, Andreas Hatta, Ignatius Bambang Sukarno Hendra . Hendrawan Hendrawan Hendriarto, Prasetyono Heri Kustanto Hernita Hernita Hernita Hotma P. Sibuea Hotmaria Hertawaty Sijabat Hotmaria Hertawaty Sijabat Hotmaria Hertawaty Sijabat Hotmaria Hertawaty Sijabat Hotmaria Hertawaty Sijabat Hotmaria Hertawaty Sijabat Hotmaria Hertawaty Sijabat Hotmaria Hertawaty Sijabat Ita Nurcholifah Iyad Abdallah Al- Shreifeen Iyad Abdallah Al-Shreifeen Jahidin Kuswanto Januar Agung Saputera Jessica Francis Gunawan Jestin Justian Juliana, Juliana Junior B. Gregorius Karunia Ilham Karim Kevin Neil McVey Khaerunnisa Ade P. Khairul Nizam bin Zainal Badri Khalimi Khalimi Khalimi Lalu Syaifudin Lidya Cristy S Loso Judijanto M Reydhi Suwanda M Ruswan Talaohu M. Hafiz Aini M. Zahari Mahmudin, Tono Mailinda, Nur Martedjo, Wagiman Martin Maurer M.Marpaung Megasari Sijabat, Fittry Mellisa Efiyanti Mellisa Efiyanti Melyana Melyana Mervyn Mervyn Michael Matthew Michelle Angelika S Mika Anabelle Miya Maryani, Ayu Moch. Isra Hajiri Mochammad Roufal Moh. Imam Ishomuddin Zuhri Mohammad Ahmad Bani Amer Monica Monica Mowafg Abrahem Masuwd Muhammad Anas Ma`arif Muhammad Fachri Muhammad Ikhwan Muhammad Ikhwan Muhammad Nagieb Muhammad Naufal Arifiyanto Muhammad Rayyan Firdaus Muthia Rachman Nadila Citra Aprilia Naiborhu, Mesa Indra Ni Nyoman Ari Triantari Nini Putri Wijaya, Nini Putri Nofianty Helyo Novan Dzaky Pangestu Novi Puji Lestari Novi Rizky Ramadhani Novi Rizky Ramadhani Nugroho, Sudrajat Mukti Nur Ulfa Maulida Nurwita, Nurwita Oggy Satya Tambunan Olivia Pauline Hartanti Poetranto, Soeryo Pradita Ajeng S.A Puji Hastuti Rafa Zahirah Husein Rahadian Bayu Anggoro Rahardja, Tony Rahmat Nasution Raissa Arlyn Manikam Rajes Khana Ramdan Yusuf Renaldi Immanuel Panggabean Renaldi Immanuel Panggabean Retnaningtyas Insyira Retnaningtyas Insyira, Anggia Az Zahra, Nadila Citra Aprilia, Chairunnissa, Muhammad Rayyan Firdaus, Novan Dzaky Pangestu Reza Sutrianingtyas Rahayu Rianti Nurul Oktavia Rif'ah Rif'ah Rifa’at Hanifa Muslimah Rifa’at Hanifa Muslimah Rio Johan Putra Ririn Nurhidayanti Rizka Anindya Manjayani Rizky Yosa Adhi Prabowo Robby Sulivan, Robby Robert Iskandar Rumanto Waruwu, Adi Salmon Sihite Salsa Rizkya Samsuto, Samsuto Sanchita Bhattacharya Sanjaya, Aditya Santika Santika Sarah Ramadona Sardjana Orba Manullang Savira Lovianda Gunawan Sendi Sanjaya Sendi Sanjaya SH Septy Kusuma Septy Kusuma, Arif Rahman Baihaqi, M Ruswan Talaohu, Santika, Sarah Ramadona, Salsa Rizkya Setiawan, Lisno Shella Felicia Shohib MUSLIM Sihite, Salmon Silalahi, Yohanes B O Siti Hafifa Marlinda Putri Siti Nur Azizah Siti Rokayah Songga Aurora Abadi Songga Aurora Abadi Sri Sugiarti, Ekha Sudrajat, Maman Sukh Pawen Jit Kaur Sunnah, Sunnah Syavitri Ramadhani Sylvana, Yana Tahir, Usman Tamrin Tamrin Tanti Herawati Taufik Rahman Taupik Alpiyandi Theresia Vena Tiwi Siftiyani Rosidah Towpek, Hadenan Ummah, Iriaty Khairul Usman Tahir Viony Kresna Sumantri Vivin Caronia Wagiman WAGIMAN Wagiman Wagiman . Wagiman Wagiman WAHYUDI Wibowo Laksono Widodo Wibowo, Basuki Rekso Widjaja, Liza Wijaya, Hanna Wirawan, Vani Yana Sylvana Yohanes Firmansyah Yohanes Firmansyah Yohanes Firmansyah Yohanes Firmansyah Yohanes Firmansyah Yuli Supriani Yuri Anggi Yustinus Lambang Setyo Putro Yustinus Rurie Wirawan Yusuf, Ramdan Zainal Arifin