PENERAPAN PRINSIP-PRINSIP GOOD CORPORATE GOVERNANCE PADA BADAN USAHA MILIK DAERAH (BUMD) PT. PEMBANGUNAN PRASARANA SUMATERA UTARA

Abstract

This research aims to analyze the implementation of Good Corporate Governance (GCG) principles at the Regional-Owned Enterprise (BUMD) PT. Pembangunan Prasarana Sumatera Utara (PT. PPSU). The study focuses on five main GCG principles: transparency, accountability, responsibility, independence, and fairness. The research uses a qualitative descriptive approach, with data collected through in-depth interviews, direct observation, and documentation of official company reports and related regulations. The findings reveal that PT. PPSU has gradually implemented GCG principles and has shown positive progress, particularly in the aspects of transparency and accountability. The company has demonstrated information disclosure through its official website and internal reports, while its financial reporting system is regularly audited and indicates significant performance growth over the 2020–2024 period. However, weaknesses remain in independence and fairness, including the absence of an audit committee, the inconsistency of the reward and punishment system, and external influence from shareholders in strategic decision-making. Overall, the implementation of GCG at PT. PPSU is considered satisfactory but still requires institutional strengthening, improved human resource capacity, and the development of an integrity-based corporate culture to ensure more transparent, professional, and sustainable corporate governance.