UNIVERSITAS INDONESIA

FACULTY OF ECONOMICS AND BUSINESS

DEPARTEMENT OF ACCOUNTING
UNDERGRADUATE PROGRAM
S1 EKSTENSI
S1 INTERNATIONAL CLASS

PERHATIAN!
BACALAH PETUNJUK BERIKUT SEBELUM
ANDA MENJAWAB PERTANYAAN UJIAN INI

1. Pastikan anda menuliskan NPM, tanggal ujian, nama dosen dan tanda tangan di setiap
halaman pertama lembar jawaban Anda.
2. Anda diperkenankan untuk menjawab secara tidak berurutan, namun untuk setiap nomor
pertanyaan yang anda jawab, tulislah nomor pertanyaannya di pojok kiri atas dengan ukuran
yang cukup besar agar mudah terlihat (Contoh: PROBLEM 1).
3. Perhatikan bobot masing-masing soal dan sesuaikan alokasi waktu pengerjaan soal dengan
bobotnya.
4. Bagi kelas yang menggunakan bahasa pengantar Bahasa Inggris wajib menjawab seluruh
pertanyaan dalam Bahasa Inggis. Sedangkan bagi kelas dengan pengantar Bahasa Indonesia
diperbolehkan menjawab dalam Bahasa Indonesia.
5. Lembar soal wajib dikembalikan ke pengawas ujian.

**SELAMAT MENGERJAKAN**

UNIVERSITAS INDONESIA
FACULTY OF ECONOMICS AND BUSINESS
DEPARTEMENT OF ACCOUNTING
UNDERGRADUATE PROGRAM
S1 EKSTENSI
S1 INTERNATIONAL CLASS

MID TERM EXAM

TATA KELOLA PERUSAHAAN (CORPORATE GOVERNANCE)
ECAU6011306
SEMESTER II 2015/2016
DATE
DURATION: 150 MINUTES
TYPE OF EXAM: OPEN ALL RESOURCES, HARD COPY ONLY

PROBLEM 1 (15%)
Learning Objective: Explain theory, principles, needs, and benefits of corporate
governance
Governance practices in Indonesia substantively began after the 1998 reforms on both countryand firm-levels. Regulations, Policies, Organization Standards and Procedures, and
Institutional Relations, as well as the procedure of electing the management of organizations
were legal products issued to establish good governance. Since 2001, Transparency
International has assessed the effectiveness of governance practices in Indonesia. However,
even in year 2015, the range of numbers that was obtained was about 3 (out of 10), falling short
from the psychological benchmark of 5. This means that governance of organization's
resources in Indonesia is still deemed as inefficient, ineffective, unproductive, and noneconomical.
As such, we should review governance practices that exist today. In particular, whether the
governance structure, mechanisms, and principles of governance are in accordance with
Indonesian social, cultural, political, and economic context. Selection of the appropriate theory
with regulatory support, resource governance, and a strategic agent who fits in with Indonesias
unique context will yield maximum benefits.
Questions:
1. Explain the basic theory of governance (5 points).
2. What is the corporate motivation in applying good governance, and what benefits will
be obtained if the corporation implemented good governance practices (5 points).
3. Give examples to support your propositions (5 points)

PROBLEM 2 (15%)
Learning Objective: Explain theory, principles, needs, and benefits of public governance,
including the link between public and corporate governance
Questions:
1. What is the underlying theory of Public Governance? (5 points)
2. Why the society needs Good Public Governance? (5 points)
3. What are potential benefits for country that applying the principles of Good Public
Governance? Explain your answer for each principle as suggested in the literature
provided. (5 points)

PROBLEM 3 (20%)
Learning Objective: Explain the rights and responsibilities of shareholders (including
institutional investors) and principles to facilitate them and explain the equitable
treatment of shareholders
Questions:
1. Explain the strengths and weaknesses of the conduct of the annual general shareholders
meetings among publicly listed companies in Indonesia by referring to the 2nd OECD
corporate governance principles as the benchmark (10 points).
2. Explain: i) why related party transactions are more likely to be abusive if control rights
of controlling shareholders are higher than their cash-flow rights; and ii) at least three
mechanisms to prevent abusive related party transactions (10 points).

PROBLEM 4 (20%)
Learning Objective: Explain the role of stakeholders and intermediaries in governance
Spitzeck et al (2010) finds that stakeholders have voice to involve in participating companys
governance. This finding is align with the view that corporate governance as a broader concept
involving corporate decision making beyond the board of directors (Letza et al 2004 and Sison
2008). Both views are agree that the involvement of many interest parties are important to
achieve the corporate objectives.
Questions:
1. Regarding the involvement of interest parties in a company, compare and analyze the
view of Friedman (1970) and Freeman (1984) on managing corporate governance that
affect the value of the firm? Under what circumstances, each view can be implemented
effectively in the corporation?

2. Stakeholder engagement is part of the Corporate Social Responsibility activities. If you

are a member of board of director, how do you identify (map) the stakeholder to create
engagement into strategic collaboration as it is depicted in figure 2 Spitzeck et al (2010)
3. Explain why institutional investors and intermediaries (analysts, brokers, rating
agencies, etc.) need to practice good governance (5 points).

PROBLEM 5 (15%)
Learning Objective: Understand the role, responsibilities, and effectiveness of boards
(Board of Commissioners and Board of Directors)
Questions:
1. Explain briefly the role and responsibility of Dewan Direksi and Dewan Komisaris in
order for the company to accomplish the Good Corporate Governance? (7,5%)
2. Why still we need the Komisaris Independen, since we have already had Dewan
Komisaris that according to the rule and regulation should act independently? What
does it mean with independen in context of Komisaris Independen? (7,5%)

PROBLEM 6 (15%)
Learning Objective: Understand the role responsibilities, and effectiveness of committees
under the authority of the Board of Commissioners
Questions:
1. Why the existence of an audit committee in the company is important in the corporate
governance structure?
2. Explain why the audit committee has to communicate with internal and external
auditors in doing their roles and responsibilities?

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