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All Journal Jurnal Kewirausahaan Bukit Pengharapan Mount Hope Global Economic Journal
Rahardjo, Iman Sjamsu
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Economics, Econometrics & Finance

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PENGEMBANGAN FINANCIAL MODELLING FRAMEWORK (FMF) TERINTEGRASI: PENDEKATAN DESIGN-BASED DALAM ARSITEKTUR MODEL KEUANGAN KORPORASI Rahardjo, Iman Sjamsu
Mount Hope Economic Global Journal Vol. 3 No. 3 (2025)
Publisher : Institut Teknologi dan Bisnis Kristen Bukit Pengharapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61696/mega.v3i3.982

Abstract

Corporate financial modeling practices have evolved technically, yet they remain largely ad hoc, architecturally undocumented, and insufficiently aligned with governance and model risk principles. Spreadsheet-based models are frequently constructed in a fragmented manner, exposing organizations to assumption inconsistencies and model risk vulnerabilities. This study develops an integrated Financial Modeling Framework (FMF) using a design-based research approach to bridge the gap between financial modeling practice, financial statement analysis, and risk governance principles. The research produces a layered architectural artifact consisting of an assumptions layer, integrated financial statements layer, performance output layer, and validation mechanism. The novelty of this study lies in conceptualizing financial modeling as a governance-aware decision infrastructure that explicitly integrates financial statement structures, ratio transmission logic, and validation controls within a modular and transparent design. Theoretically, the study extends design science applications into the financial domain by emphasizing architectural structuring as a determinant of model quality. Practically, the FMF enhances transparency, consistency, and accountability in spreadsheet-based corporate financial model development.
EVOLUSI DOKTRIN ULTRA VIRES DALAM TATA KELOLA KEPUTUSAN DIGITAL DAN BIG DATA PADA PERUSAHAAN MODERN Rahardjo, Iman Sjamsu
Jurnal Kewirausahaan Bukit Pengharapan Vol. 5 No. 2 (2025)
Publisher : Institut Teknologi dan Bisnis Kristen Bukit Pengharapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61696/juwira.v5i2.986

Abstract

The rapid transformation of the digital economy has significantly reshaped corporate decision-making, particularly in high-risk investments involving advanced technologies and big data. In this context, the doctrine of ultra vires traditionally understood as actions taken beyond a company’s stated objectives requires reinterpretation to remain relevant. This study aims to examine the evolution of the ultra vires doctrine in Indonesian corporate law and to reassess its relevance within digital governance and data-driven decision-making. This research employs a normative juridical approach combining statutory and conceptual analysis, primarily referring to Law Number 40 of 2007 concerning Limited Liability Companies and Law Number 27 of 2022 concerning Personal Data Protection. The findings indicate that ultra vires has evolved from a rigid doctrine of invalidity into an evaluative mechanism defining the outer limits of directors’ authority. The relationship between ultra vires and the business judgment rule is not contradictory but complementary: ultra vires operates as an external boundary, while the business judgment rule provides conditional protection for rational business risks. This article argues for a functional-adaptive reinterpretation of ultra vires by integrating it with fiduciary duties and digital risk governance standards. Such an approach helps balance innovation flexibility with legal certainty, ensuring that corporate law remains responsive to the dynamics of the data-driven economy without compromising accountability.
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