PERLINDUNGAN HUKUM BAGI PEMEGANG SAHAM MINORITAS DALAM TATA KELOLA PERUSAHAAN

Abstract

Penelitian ini bertujuan menganalisis efektivitas perlindungan hukum bagi pemegang saham minoritas dalam kerangka tata kelola perusahaan (GCG) di Indonesia. Metode penelitian yang digunakan adalah yuridis normatif dengan pendekatan perundang-undangan (statute approach) dan konseptual (conceptual approach). Data bersumber dari peraturan perundang-undangan, putusan pengadilan, literatur akademis, dan laporan lembaga pengawas (OJK). Temuan penelitian menunjukkan bahwa meskipun UU No. 40/2007 tentang Perseroan Terbatas dan regulasi OJK telah mengatur hak minoritas (seperti derivative action, hak informasi, dan transaksi benturan kepentingan), implementasinya masih lemah. Tantangan utama meliputi asimetri informasi, biaya litigasi tinggi, dan rendahnya penegakan hukum. Penelitian ini merekomendasikan: (1) penyempurnaan mekanisme class action dan exit rights, (2) penguatan peran komisaris independen, dan (3) peningkatan pengawasan OJK. Implikasinya, perlindungan hak minoritas memerlukan integrasi prinsip GCG (kewajaran, akuntabilitas) dengan reformasi kerangka hukum.

This study analyzes the effectiveness of legal protection for minority shareholders within Indonesia’s corporate governance (GCG) framework. The research employs a normative juridical method with statutory and conceptual approaches. Data were collected from legislation, court rulings, academic literature, and reports from the Financial Services Authority (OJK). Findings reveal that despite existing regulations (e.g., Company Law No. 40/2007 and OJK rules) safeguarding minority rights (e.g., derivative actions, access to information, related-party transactions), weak implementation persists. Key challenges include information asymmetry, high litigation costs, and inadequate law enforcement. The study recommends: (1) enhancing class action and exit right mechanisms, (2) strengthening independent commissioners’ oversight, and (3) reinforcing OJK’s supervisory role. The research implies that robust minority protection requires integrating GCG principles (fairness, accountability) with legal reforms.