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Agency problem, intellectual capital and good corporate governance model for village-owned enterprises (BUMDes) in Indonesia

Author

Listed:
  • Abdul Ghofar
  • Hendi Subandi
  • Areta Widya Kusumadewi

Abstract

This study develops a good corporate governance model suitable for implementation in village-owned enterprises, by identifying and analysing factors contributing to agency problems found in these places as a result of their unique business characteristics. Furthermore, this study seeks to explore the intellectual capital phenomenon using a qualitative perspective to discover why and how village-owned enterprises manage their intellectual capital. This study was conducted using the grounded theory method. This study contributes to the literature on good governance and intellectual capital and provides a clear picture of corporate governance model development in village-owned enterprises. Most previous literature focuses on the implementation of corporate government model in listed companies which are different from village-owned enterprises.

Suggested Citation

  • Abdul Ghofar & Hendi Subandi & Areta Widya Kusumadewi, 2022. "Agency problem, intellectual capital and good corporate governance model for village-owned enterprises (BUMDes) in Indonesia," International Journal of Business and Systems Research, Inderscience Enterprises Ltd, vol. 16(4), pages 484-512.
    • Handle: RePEc:ids:ijbsre:v:16:y:2022:i:4:p:484-512
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