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Corporate Governance Failures Leading to Bankruptcy in State-Owned Enterprises (SOEs) Subsidiaries Nabilla Mahva Tsabita; Ariawan Gunadi
Academia Open Vol. 10 No. 2 (2025): December
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/acopen.10.2025.12991

Abstract

General Background: Good Corporate Governance (GCG) is essential for ensuring corporate integrity and preventing financial distress, particularly within State-Owned Enterprises (SOEs). Specific Background: Recent bankruptcy cases involving SOE subsidiaries reveal persistent weaknesses in transparency, accountability, and supervisory mechanisms, as exemplified by the collapse of PT Indofarma Global Medika (IGM). Knowledge Gap: Existing studies often assess fraud or GCG violations in isolation, lacking analysis that connects governance failures to legal and financial consequences within SOE parent–subsidiary structures. Aims: This study examines how suboptimal GCG implementation contributes to bankruptcy risks in SOE subsidiaries and evaluates the legal and managerial implications for parent entities. Results: Findings show that repeated fraud, inadequate risk management, and ineffective oversight created structural vulnerabilities that escalated into insolvency during the Suspension of Debt Payment Obligations process. Novelty: The research establishes a direct causal link between GCG failure and subsidiary bankruptcy within the specific legal framework governing SOEs, highlighting accountability gaps in parent–subsidiary governance. Implications: Strengthening GCG enforcement is critical to safeguard state assets, enhance supervisory effectiveness, and prevent future insolvencies in SOE corporate groups. Highlights: Suboptimal GCG implementation in SOE subsidiaries significantly increases bankruptcy risk. Parent–subsidiary governance gaps weaken supervision and allow fraud to recur. Strengthening risk management and accountability is crucial to protect state assets. Keywords: Good Corporate Governance, State-Owned Enterprises, Bankruptcy, Parent–Subsidiary Governance, Risk Management
DAPATKAH MUSIK MENJADI KEJAHATAN? PERLINDUNGAN EKSPRESI ARTISTIK DALAM HUKUM HAK ASASI MANUSIA INTERNASIONAL Lenggo Anastasia Brilliant Gea; Ariawan Gunadi
Clavia Vol. 24 No. 1 (2026): Clavia : Journal of Law, April 2026
Publisher : Faculty Of Law Bosowa University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56326/clavia.v24i1.8935

Abstract

Kebebasan berekspresi merupakan salah satu hak asasi manusia fundamental yang dijamin dalam Pasal 19 Universal Declaration of Human Rights (UDHR) dan Pasal 19 International Covenant on Civil and Political Rights (ICCPR). Perlindungan tersebut mencakup berbagai bentuk ekspresi, termasuk ekspresi artistik seperti musik dan lirik lagu. Penelitian ini bertujuan untuk menganalisis pengaturan dan batasan kebebasan berekspresi dalam bentuk ekspresi artistik menurut hukum hak asasi manusia internasional serta mengkaji apakah kriminalisasi terhadap lirik lagu yang bersifat kritis dapat dibenarkan berdasarkan prinsip pembatasan kebebasan berekspresi dalam ICCPR. Metode penelitian yang digunakan adalah penelitian hukum yuridis normatif dengan pendekatan peraturan perundang-undangan dan pendekatan konseptual. Hasil penelitian menunjukkan bahwa musik dan lirik lagu merupakan bagian dari ekspresi artistik yang memperoleh perlindungan hukum internasional karena memiliki fungsi sosial, budaya, dan politik. Meskipun demikian, Pasal 19 ayat (3) ICCPR memperbolehkan pembatasan kebebasan berekspresi sepanjang memenuhi prinsip legalitas, tujuan yang sah, serta kebutuhan dan proporsionalitas. Dalam kasus Pablo Hasel, kriminalisasi terhadap lirik lagu kritis dinilai sulit dibenarkan karena tidak sepenuhnya memenuhi prinsip-prinsip pembatasan tersebut dan berpotensi menimbulkan chilling effect terhadap demokrasi serta kebebasan sipil. Oleh karena itu, negara harus berhati-hati agar pembatasan terhadap ekspresi artistik tidak berubah menjadi alat represi politik. Freedom of expression is one of the fundamental human rights guaranteed under Article 19 of the Universal Declaration of Human Rights (UDHR) and Article 19 of the International Covenant on Civil and Political Rights (ICCPR). Such protection covers various forms of expression, including artistic expressions such as music and song lyrics. This study aims to analyze the regulation and limitations of freedom of expression in the form of artistic expression under international human rights law and to examine whether the criminalization of critical song lyrics can be justified based on the principles of restrictions on freedom of expression under the ICCPR. This research employs a normative juridical legal method using statutory and conceptual approaches. The findings indicate that music and song lyrics are forms of artistic expression protected under international law due to their social, cultural, and political functions. Nevertheless, Article 19 paragraph (3) of the ICCPR allows restrictions on freedom of expression provided that they comply with the principles of legality, legitimate aim, necessity, and proportionality. In the case of Pablo Hasel, the criminalization of critical song lyrics is difficult to justify because it does not fully satisfy these limitation principles and potentially creates a chilling effect on democracy and civil liberties. Therefore, states must exercise caution to ensure that restrictions on artistic expression do not become instruments of political repression.