This study aims to analyze the implementation of Good Corporate Governance (GCG) principles at Bank Syariah Indonesia (BSI) during the 2021-2024 period. GCG plays a vital role in maintaining customer trust, strengthening institutional stability, and ensuring operational compliance with maqashid syariah values such as justice (al-‘adl), welfare (al-maslahah), and trustworthiness (hifz al-mal). This research employs a qualitative descriptive method using a content analysis approach based on BSI’s annual reports from 2021 to 2024. The results show that BSI has implemented GCG principles very well and consistently, with an average disclosure rate of 90.55%, categorized as “Excellent.” However, two indicators multiple directorships and legal case resolution still require improvement, with an average of 87.5%. These findings indicate that BSI has applied a governance system that is transparent, accountable, and fair, while also reflecting maqashid syariah principles in upholding trust and promoting public welfare.

This study aims to analyze the implementation of good corporate governance in the management of BUMDes and its contribution to the SDGs of the village at DUMDes Surya Sejahtera Kedungturi, Taman District, Sidoarjo Regency. This study uses a qualitative method with primary data obtained from the Secretary and Treasurer of BUMDes Surya Sejahtera. Data collection techniques include interviews, observation, and documentation. The results of the study show that BUMDes Surya Sejahtera has implemented GCG well, although improvements are needed in transparency, digital literacy, and community participation. GCG contributes positively to BUMDes performance, community economy, and achievement of Village SDGs.

This study examines the influence of sustainability reporting on firm value and investigates whether good corporate governance strengthens this relationship. Using secondary data from non-financial companies listed on the Indonesia Stock Exchange, the analysis applies a quantitative approach with a moderating regression model. The findings indicate that sustainability reporting has a positive effect on firm value, suggesting that investors increasingly consider non-financial disclosures as relevant information in evaluating long-term business prospects. Good corporate governance also shows a positive association with firm value, reflecting the importance of internal monitoring mechanisms in enhancing the credibility of corporate information. Furthermore, the moderating analysis demonstrates that good corporate governance reinforces the impact of sustainability reporting on firm value. Companies with stronger governance structures tend to gain greater market appreciation for their sustainability disclosures. Overall, this study highlights the need for companies to integrate transparent sustainability practices with effective governance systems to maximize value creation and strengthen investor confidence.

This paper analyzes the evolution of the liability regime for legal entities in the Peruvian legal system, with special emphasis on the regulations established by Law 30424 and its subsequent amendments. In this context, it examines the impact of the crime prevention model (criminal compliance), its function as a mechanism for exemption or mitigation of liability, and its role in promoting a business culture based on ethics and transparency. Additionally, it details the essential elements that must comprise an effective prevention model and the importance of their implementation in the business organizational structure. Finally, it concludes that the implementation of crime prevention models not only contributes to reducing companies’ legal exposure but also strengthens their reputation and competitiveness in the market, aligning them with international standards of good corporate governance and corporate responsibility.

From 2020 to 2023, this research looks at food and drink manufacturing businesses listed on the Indonesia Stock Exchange to see how transfer pricing is affected by good corporate governance, bonus mechanisms, and tunneling incentives. Purposive sampling was used to choose data from consolidation financial reports, which were then analyzed using multiple linear regression. According to the results, Good Corporate Governance considerably decreases Transfer Pricing, suggesting that executive discretion is limited by independent supervisory scrutiny. It seems that performance-based incentives are not the main factor driving Transfer Pricing, since Bonus Mechanisms have a positive but negligible influence. At the same time, Tunneling Incentives) cut down on Transfer Pricing, which means that more oversight and less such tactics are possible with more foreign ownership. The analyzed variables good corporate governance, bonus mechanism and tunneling incentive all show significant correlations with Transfer Pricing, according to the correlation analysis. With an Adjusted R Squared value of 0.266, the model suggests that the variables under investigation account for 26.6% of the variation in Transfer Pricing, while other, unexplored factors contribute to the remaining 73.4%

The case of PT Lippo's financial report manipulation is clear evidence that accounting fraud can still occur due to weak oversight by the board of commissioners. This situation even forced the government to intervene and provide assistance. This phenomenon demonstrates the weak implementation of Good Corporate Governance (GCG), where managers' personal interests prevail over the company's interests. Furthermore, company size also influences earnings management practices. Small companies more often engage in earnings management to present a superior performance to attract investors. Meanwhile, large companies are typically better able to manage risks, including political risks, allowing them to focus more on maximizing profits to strengthen the ecosystem. This study aims to examine how company size and GCG influence earnings management practices, both separately and jointly. The results of the study, conducted on 48 listed mining companies, found that company size and GCG significantly influence earnings management practices. This means that good governance and proportional company management are crucial for mitigating the risk of financial report manipulation.

Using financial performance as an intervening variable, this study investigates how environmental performance and Good Corporate Governance (GCG) affect company value. Eight state-owned enterprises were selected purposively, and data was obtained from the Indonesia Stock Exchange and the companies' official websites. To conduct this analysis, descriptive statistics, validity and reliability tests, inner model evaluation, and hypothesis testing through bootstrapping were used. The results of the study indicate that sustainability and governance are not yet major considerations for the market, as environmental performance and GCG do not have a direct impact on company value. While GCG does not have a significant impact, environmental performance has been proven to improve financial performance. In addition, financial performance has the ability to control the influence of environmental performance on company value; however, it cannot control the relationship between GCG and company value. These findings confirm that financial performance is the most dominant factor in the formation of company value.

This study examines the effect of risk management implementation on the financial performance of Bank BJB (PT Bank Pembangunan Daerah Jawa Barat dan Banten, Tbk) during the period 2015–2024. The research aims to analyze how credit risk (Non-Performing Loan), liquidity risk (Loan to Deposit Ratio), and capital adequacy (Capital Adequacy Ratio) influence Return on Assets as a measure of financial performance. Employing a quantitative explanatory design, the study uses secondary data from Bank BJB’s annual reports, financial statements, and good corporate governance reports. Data analysis is performed through multiple linear regression with classical assumption tests to ensure model validity. The results indicate that Non-Performing Loan has a negative and significant effect on Return on Assets, while Loan to Deposit Ratio and Capital Adequacy Ratio have positive and significant effects. These findings confirm that effective risk management significantly contributes to profitability and financial stability. The novelty of this research lies in its integration of risk management variables within the context of regulatory evolution, digital transformation, and post-pandemic recovery in Regional Development Banks. The study contributes to both academic literature and practical policy by providing empirical evidence on how prudent risk management can enhance bank performance and resilience. Keywords: Risk Management; Financial Performance; Non-Performing Loan; Loan to Deposit Ratio; Capital Adequacy Ratio

Purpose — This study investigates the effects of Enterprise Risk Management (ERM) and Good Corporate Governance (GCG) on firm performance, with operational efficiency serving as a mediating variable, using secondary data from KBMI 3 banks in Indonesia over five years Design/methodology/approach — The analysis, conducted through Partial Least Squares Structural Equation Modeling (PLS-SEM), shows that ERM has a significant positive effect on operational efficiency (β = 0.29, p = 0.01) and firm performance (β = 0.27, p < 0.05). At the same time, GCG does not exhibit a significant direct impact on either outcome. Both ERM and GCG significantly influence operational efficiency. Still, their direct effect on firm performance is not statistically significant (β = 0.03, p = 0.40), suggesting the presence of indirect pathways and external moderating factors. Findings — These results provide empirical support for the role of operational efficiency as a partial mediator between ERM and firm performance, contributing to a deeper understanding of performance dynamics in the Indonesian banking sector. Practical implications — The study advances existing literature by embedding efficiency into the governance–risk–performance nexus. It offers useful insights for banking practitioners and regulators to enhance risk alignment, internal process integration, and sustainable performance management. Originality/value — The study advances existing literature by embedding operational efficiency into the governance–risk–performance nexus. It provides empirical support for the role of operational efficiency as a partial mediator between ERM and firm performance, contributing to a deeper understanding of performance dynamics in the Indonesian banking sector (KBMI 3 banks). It offers practical insights for banking practitioners and regulators to enhance risk alignment, internal process integration, and sustainable performance management.

The suboptimal implementation of Know Your Customer (KYC) by bank directors contributes to the increase in non-performing loans (NPLs). This normative legal research analyzes the legal responsibility of directors for the failure to implement KYC in the context of debtor default, as well as the integration of KYC in creditworthiness analysis (5C). The results show that KYC has evolved into a fundamental instrument of the board of directors' duty of care, which is functionally integrated to validate the Condition and Collateral criteria. Analysis of Decision No. 266/Pdt.G/2012/PN. SBY indicates that KYC failure constitutes a breach of fiduciary duty that has a causal relationship with the bank's losses. This negligence opens up multidimensional liability for directors, including administrative sanctions, civil lawsuits (Article 1365 of the Civil Code), and potential criminal liability (TPPU). The board of directors holds full responsibility to ensure the effectiveness of KYC as a key pillar of Good Corporate Governance (GCG) to mitigate credit and legal risks.

This study aims to examine and analyze the influence of the board of commissioners, audit committee, managerial ownership, and institutional ownership on financial performance, using net profit margin as a proxy, in food and beverage companies listed on the Indonesia Stock Exchange from 2020 to 2023, with corporate social responsibility as a mediator. This type of research is quantitative descriptive study, with employed a purposive sampling technique. The sample size was 17 companies with 68 observations. The data were then processed using eViews version 12. The results indicate that an independent board of commissioners (X1) has a positive but insignificant effect on net profit margin, the audit committee has a negative but insignificant effect on net profit margin, managerial ownership (X3) has a positive but insignificant effect on net profit margin, and institutional ownership (X4) has a significant and positive effect on net profit margin. Furthermore, corporate social responsibility is proven to be able to mediate the relationship between the independent board of commissioners (X1) and the audit committee (X2) on the company's net profit margin, but is not proven to be able to mediate the relationship between managerial ownership (X3), institutional ownership (X4) on the company's net profit margin. Keywords: Independent board of commissioners, Audit committee, Managerial ownership, Institutional ownership, Net profit margin, Corporate social responsibility

This study investigates the role of competitive advantage and the moderating effect of good corporate governance (GCG) in enhancing the impact of knowledge management on organizational performance within PT Angkasa Pura II, a state-owned airport enterprise in Indonesia. Guided by the Resource-Based View (RBV) framework, this research adopts a quantitative explanatory design. Data were collected from 198 senior leaders and managers across 20 airports operated by PT Angkasa Pura II and analyzed using Structural Equation Modeling (SEM). The findings reveal that knowledge management exerts a positive yet insignificant influence on competitive advantage, while competitive advantage significantly improves organizational performance. Furthermore, GCG strengthens the relationship between competitive advantage and organizational performance, demonstrating its strategic role in enhancing sustainable performance outcomes. The study highlights the critical integration of knowledge management and governance practices in building and sustaining organizational competitiveness. The results provide practical insights for managers and policymakers in state-owned enterprises to align knowledge management strategies with good governance principles for long-term organizational success.

This study examines how the Fraud Heptagon, Audit Report Lag, and Whistleblowing System influence the incidence of financial statement fraud in Indonesian manufacturing firms, with Good Corporate Governance (GCG) tested as a moderating factor. Using panel data from 100 companies listed on the Indonesian Stock Exchange between 2015 and 2024, the analysis applies Partial Least Squares–Structural Equation Modeling (PLS-SEM) to evaluate both direct and interaction effects. The Fraud Heptagon—comprising pressure, opportunity, rationalization, capability, arrogance, collusion, and greed—demonstrates a significant positive association with fraudulent financial reporting, indicating its relevance as a multidimensional predictor of unethical behavior. Audit Report Lag shows a positive but insignificant relationship with fraud, suggesting that reporting delays alone do not reliably indicate manipulation. Conversely, an effective Whistleblowing System significantly reduces the likelihood of misstatements. The moderating analysis reveals that GCG strengthens the effects of the Fraud Heptagon and the Whistleblowing System but does not alter the influence of Audit Report Lag. These findings highlight the importance of behavioral, procedural, and governance mechanisms in fraud prevention. The study contributes theoretical validation of the Fraud Heptagon in an emerging-market context and provides practical guidance for improving oversight, transparency, and ethical accountability in corporate reporting.

This study aims to analyze the challenges in implementing Good Corporate Governance (GCG) within Islamic financial management in Indonesia. The research employs a descriptive qualitative approach using in-depth interviews, observations, and document analysis from several Islamic Financial Institutions (IFIs). The findings reveal that although the principles of GCG—transparency, accountability, responsibility, independence, and fairness—have been applied, their implementation still faces various obstacles. The main challenges include limited human resources capable of integrating modern management with fiqh muamalah, weak supervision by the Sharia Supervisory Board (SSB), and overlapping regulations between conventional and Islamic systems. To address these issues, IFIs need to enhance human resource competencies, expand the strategic role of the SSB, and develop integrated digital-based compliance systems. This research highlights the importance of synergy between GCG principles and maqasid al-shariah values as the foundation for equitable and sustainable Islamic corporate governance.

Purpose: This study examines the effect of Sustainability Disclosure (SD) and Good Corporate Governance (GCG) on Firm Value (FV), with Financial Performance (FP) as a mediating variable in Indonesian energy sector companies from 2022–2024. Methodology/approach: Using a quantitative method and PLS-SEM (WarpPLS 8.0), the study analyzes 52 companies (156 observations) based on annual and sustainability reports from the IDX. Findings: The results reveal that Sustainability Disclosure has no significant effect on Financial Performance but has a significant positive effect on Firm Value. GCG significantly affects both Financial Performance and Firm Value. Financial Performance also has a significant positive effect on Firm Value but fails to mediate the relationship between SD or GCG and FV, indicating that their influence occurs mainly through direct effects. Practical and Theoretical contribution/Originality: Theoretically, this research strengthens evidence on how sustainability and governance shape firm value in emerging markets. Practically, it highlights that transparent sustainability practices and effective governance mechanisms can directly enhance investor confidence and corporate reputation, even without immediate financial gains. Research Limitation: The mediating role of FP was not supported, possibly due to limited variables, short study period, or sector-specific factors. The low R² suggests other variables may influence firm value beyond the model.

The risk of rising inflation, the prospect of high interest rates, escalating trade and geopolitical tensions have left the global economy in a state of ongoing uncertainty. The high prevalence and market valuation of companies with family involvement make this form of business organization an important component in the global capital market. How can family businesses maintain and increase company value amidst global economic uncertainty? This study aims to examine the causal relationship between family involvement and company value with good corporate governance as a moderating variable. The study population is all property and real estate sector companies listed on the Indonesia Stock Exchange for the period 2021-2024. Hypothesis testing using SPSS results in: (1) Family Involvement has a positive and significant effect on company value, (2) Institutional Ownership strengthens the influence of family involvement on company value, (3) An independent board of commissioners strengthens the influence of family involvement on company value, (4) The audit committee does not moderate the influence of family involvement on company value. Mitigating agency problems and implementing good corporate governance can encourage companies to achieve better financial performance, so that the company can continue from one generation to the next.

The purpose of this study is to use the Theory of Islamic Good Corporate Governance (IGCG) methodology to determine the elements that affect muzakki's faith in paying zakat through zakat institutions. Based on earlier research and literature, this study examines the relationship between the degree of muzakki trust and Islamic values such amanah (accountability), tabligh (transparency), fatanah (competence), and religiosity. Furthermore, additional elements like reputation, contentment, and service quality are examined as significant factors in establishing trust. The findings demonstrate that the majority of earlier research discovered a strong positive correlation between these factors and muzakki trust. Nonetheless, there are conflicting findings on the factors of openness and accountability, which in certain research actually indicate a detrimental impact. This discrepancy highlights the necessity for more study to reevaluate these two factors' roles in the context of zakat management. Theoretically, the adoption of Islamic Good Corporate Governance should boost muzakki involvement in zakat contributions by enhancing accountability, transparency, and public trust in zakat administration organizations.

This study investigates how internal efficiency and external macroeconomic conditions jointly shape the profitability and shareholder value of Indonesia’s major banks under the KBMI 3 and KBMI 4 classifications during the post-COVID-19 period (2020–2024). Using a quantitative–causal explanatory design and panel data regression, the research analyzes quarterly financial and macroeconomic data from 15 publicly listed banks. Internal determinants are measured through bank size (KBMI), seasonal periods (Q1–Q4), and the CAMEL framework—Capital Adequacy Ratio (CAR), Non-Performing Loans (NPL), Good Corporate Governance (GCG), Operational Efficiency (BOPO), and Loan-to-Deposit Ratio (LDR)—while external determinants include GDP growth, inflation, unemployment rate, consumer and business confidence indices, Bank Indonesia rate, exchange rate, and COVID-19 period. The results indicate that credit quality (NPL), intermediation efficiency (LDR), seasonal periods, and bank scale (KBMI) significantly affect profitability (ROA) and quarterly earnings per share (QEPS). Externally, consumer confidence, business optimism, and employment conditions play a supporting but secondary role. Overall, the findings highlight that sustainable profitability in Indonesia’s major banks is driven primarily by internal management efficiency, prudent risk governance, bank scale, and adaptive response to macroeconomic fluctuations, providing valuable insights for regulators, investors, and policymakers in maintaining financial stability and shareholder value.

Expression of Concern: Stock returns and financial performance as mediation variables in the influence of good corporate governance on corporate value

This study aims to analyze the effect of Capital Structure and Good Corporate Governance (GCG) on the financial performance of banks listed on the Indonesia Stock Exchange for the period 2022–2024. Capital Structure is measured by the Debt to Equity Ratio (DER), while GCG is represented by the Board of Commissioners, Board of Directors, Audit Committee, and Institutional Ownership. Financial performance is measured using Return on Assets (ROA). The analysis was conducted using multiple linear regression with SPSS version 27. The results show that Capital Structure has a significant effect on financial performance, while all GCG indicators do not have a significant partial effect. However, simultaneously, all independent variables have a significant effect on financial performance. These findings indicate that optimal management of Debt to Equity Ratio (DER) in accordance with regulatory provisions is an important factor in maintaining the stability of bank profitability. In addition, the effective implementation of GCG through increased board competence and independence is necessary to strengthen oversight and transparency. The results of this study have practical implications for bank management and investors in making funding decisions, governance policies, and strategies to improve financial performance