<b>Good Corporate Governance in </b><b>Law No. 1 Year 2025 in the Prevention of Corruption Crime </b>

<i>Research shows there's a high levels of corruption in Indonesia's state-owned enterprises (SOEs), with 108 cases in the last five years causing significant state losses. Law No. 1/2025 (SOE Law No. 1/2025), specifically Article 9F, introduces the Business Judgment Rule (BJR) to protect directors from criminalization for legitimate business decisions, although it does not provide absolute immunity. Good Corporate Governance (GCG), which encompasses transparency, accountability, responsibility, independence and fairness, is essential to enhance stakeholder trust and prevent corruption. Balancing BJR and GCG ensures legal protection does not become impunity, as BJR alone is not enough to fight corruption. Effective governance and careful oversight are essential to promote SOEs with integrity and professionalism. Future research should conduct empirical studies with SOE stakeholders to explore the application of GCG and BJR and their integration to improve governance.</i>

研究显示，印度尼西亚的国有企业（State-Owned Enterprises, SOEs）腐败问题突出，过去五年间共发生108起相关案件，造成巨额国家财政损失。印度尼西亚2025年第1号《国有企业法》（SOE Law No. 1/2025）的第9F条专门引入了商业判断规则（Business Judgment Rule, BJR），旨在保护企业董事因做出合法商业决策而免遭刑事追责，但该规则并未提供绝对豁免权。良好公司治理（Good Corporate Governance, GCG）涵盖透明度、问责制、履职尽责、独立性与公平性五大核心要素，对于提升利益相关方信任、防范腐败行为至关重要。平衡商业判断规则与良好公司治理的关系，可确保法律保护不会沦为免责特权，因为仅依靠商业判断规则不足以遏制腐败。行之有效的治理机制与审慎的监督管理，对于打造廉洁、专业的国有企业至关重要。未来的研究可针对国有企业利益相关方开展实证研究，探索良好公司治理与商业判断规则的应用路径及其融合方式，以优化国有企业治理水平。