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Procurement Policy in Regional-Owned Enterprises: A Pathway to Good Corporate Governance

Author

Listed:
  • Aji Setya Budi
  • Retno Mawarini Sukmariningsih
  • Mochamad Riyanto
  • Afif Noor

Abstract

Goods and services procurement policies in Regional-Owned Enterprises (ROEs) are of utmost importance in supporting good corporate governance (GCG). This study critically analyzes the implementation of these policies in ROEs and their impact on GCG. The research method used is a qualitative approach, with data collected from a comprehensive analysis of related documents such as laws, regulations, and literature. The results highlight that while ROEs have embraced the principles of transparency and accountability, the main challenges lie in more effective supervision and risk management. Moreover, reliance on complex procedures and lack of human resources training are slowing down the optimal implementation of GCG. The recommendations from this study, which include increasing transparency, strengthening internal control systems, and continuous training for human resources, are urgent actions needed to ensure a more effective GCG implementation in the procurement of goods and services in ROEs.

Suggested Citation

  • Aji Setya Budi & Retno Mawarini Sukmariningsih & Mochamad Riyanto & Afif Noor, 2024. "Procurement Policy in Regional-Owned Enterprises: A Pathway to Good Corporate Governance," Journal of Management World, Academia Publishing Group, vol. 2024(4), pages 230-234.
    • Handle: RePEc:bjx:jomwor:v:2024:y:2024:i:4:p:230-234:id:368
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