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All Journal SASINDO Halu Oleo Law Review Jurnal Ius Constituendum Journal of Dedicators Community Jurnal Ilmiah Sekolah Dasar Pena Justisia: Media Komunikasi dan Kajian Hukum UNTAG Law Review Al-Adl : Jurnal Hukum JURNAL USM LAW REVIEW Indonesia Private Law Review JOLLT Journal of Languages and Language Teaching KADARKUM: Jurnal Pengabdian Kepada Masyarakat Semarang Law Review Sasindo : Jurnal Pendidikan Bahasa dan Sastra Indonesia
Zaenal Arifin
Universitas Semarang
Arts Humanities Education Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Public Health Social Sciences Other

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The influence of the Business Judgment Rule on the accountability of the Board of Directors for their errors or negligence based on Eisenberg's theory of Director's Accountability Miftah Arifin; Zaenal Arifin
Pena Justisia: Media Komunikasi dan Kajian Hukum Vol 23, No 1 (2024): PENA JUSTISIA
Publisher : Faculty of Law, Universitas Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31941/pj.v23i1.4208

Abstract

In the business world, the Business Judgment Rule (BJR) is a legal principle that provides protection to directors when making risky business decisions, as long as those decisions are made in good faith, with sufficient care, and without personal interest. Although BJR is not explicitly regulated in Indonesian law, this principle is reflected in the Limited Liability Company Law and considered in the theory of director liability proposed by Melvin Aron Eisenberg. The purpose of this research is to analyze the application of the Business Judgment Rule principle in Indonesian corporate law to protect directors from liability for their mistakes or negligence, and to evaluate its influence on Eisenberg's theory of director liability. This study uses a normative legal research method that examines legal norms to analyze and interpret legal provisions related to the application of the Business Judgment Rule and director liability in Indonesia, as well as examining the influence of Eisenberg's theory on that doctrine. A conceptual approach is used to study the concept of the Business Judgment Rule and Eisenberg's theory of director liability in depth. The research results show that the Limited Liability Company Law in Indonesia regulates the application of the Business Judgment Rule (BJR), which provides protection to directors from liability for risky business decisions as long as they meet the requirements of good faith, due care, no conflict of interest, and efforts to prevent loss. However, BJR protection is not absolute, and directors can be held accountable if they violate corporate governance principles. Melvin A. Eisenberg's theory of director liability provides clearer boundaries, where directors can lose BJR protection if they violate the duty of care, duty of loyalty, duty of good faith, and duty of candor, making them accountable for their mistakes or negligence in business decision-making.
Co-Authors Agung Kristyanto Nababan Agus Wismanto Ali Lubab Alvian Octo Risty Amri Panahatan Sihotang Amri Panahatan Sihotang Annisa Rachmasari Apul Oloan Sipahutar Arif Hidayat Arisul Ulumuddin Asropah Asropah Bambang Sadono Callesta Aydelwais De Fila Asmara David Maharya Ardyantara Dhian Indah Astanti, Dhian Indah Diah Sulistyani Diah Sulistyani Ratna Sediati Diah Sulistyani RS Difa Ayu Putrisetia Doddy Kridasaksana Erik Eko Nugroho Fahruddin Mubarok Anwar Fenny Cahyani Hendri Susilo Henry Januar Saputra Irfatul Chasanah Kukuh Sudarmanto Kukuh Sudarmanto Kukuh Sudarmanto Latif Anshori Kurniawan Lestari, Rohmini Indah Mac Thi Hoai Thuong Miftah Arifin Miftah Arifin Miftah Arifin Muhammad Agus Prasetyo Muhammad Anam Muhammad Arif Maulana Muhammad Iqbal Muhammad Junaidi Muhammad Junaidi Muhammad Nur Aflah Nadia Aurynnisa Prihandini Nadya Dhea Fristianti Nikmatul Wachidah Reiska Hendristianto Rezza Aldi Ferdiansa Rizky Syahputra Rizqi Purnama Puteri Saifudin Saifudin Setiya Pramana Soegianto Soegianto Soegianto, Soegianto sukarna, kadi Sukarna, Kadi Supriyadi - Supriyadi Supriyadi Tirsa Tatara Wijayono Hadi Sukrisno Wiwin Setyorini Yogi Prasetiono