Investors and managers in a corporation in a market-based economy

Goals of shareholders, managers, BoD and employees

Economic and social goals

Individual goals and shared goals

Taking advantage of opportunities with an emphasis on exploiting mutual interests

Egoism imposes one's interests

Obtaining an advantage from a particular situation/position at the expense of another party

Prioritize materialistic goals in various project implementation

The relationship between shareholders and management who have their interests

Self-interested human behaviour, which underlies the principle of individualism

Organizations as legal persons whose job is to satisfy the interests of their owners

Agency problems that arise due to the expansion of the principal's duties

Increasing the prosperity of stakeholders at large scale

Corporations as 'social entities' are aware of their social responsibilities

The implementation of business ethics concerns corporate relationships with other parties

Management consideration of shareholder interests in decision-making

Suitability to the specific environmental context of each country

It is the same because it is guided by 'one size fits all.'

It is different because it adheres to the principle 'One size does not fit all.'

By the context and dynamics of political and cultural aspects in each country

The primary control of corporations is based on market mechanisms (market-oriented).

Diffuse corporate ownership and strengthened supremacy of shareholder value

CG pattern 'comply or explain.'

One-tier board model

Efforts to monitor agents because they have better expertise and information

Organizational limitations that cause dependence on the resource needs or resources of other parties

Organizational sustainability is obtained from efforts to maintain resources from other organizations in the industry

Prioritize management's role in negotiating dependencies on resource needs

Limiting company risk based on efficient transaction costs

The best way to manage a company is based on the environmental characteristics of each organization

Organizational responses differ according to their respective structures and conditions

Deriving agency theory, transaction cost economics, and resource dependence theory

Private or go-public companies, regulated and owned by the founding family

The market mechanism as a management control effort can be relied upon

High trust in external sources of financing through bank loans

Check and balance through the active role of the board of directors

There is no legal culture that pays attention to Indonesian cultural values

The factor of family ties with shareholders reduces professionalism

Low-cost mechanism that causes losses in the long term

Decisions technically rely on market mechanisms

Having accountability ensures the company's sustainability to parties who have legitimacy

Monitoring management and executives internally

Provide direction and supervision to management or company executives

Support shareholder interests

Ethics is broader than morals

Ego psychology reveals the actions that must be taken to help others.

The moral level is more profound than ethics and applies universally

Altruism is an individual's action that prioritizes personal interests

Ethics

Moral

Ethos

Principle

The capabilities of human resources do not match the rapid development of technology in the company

Information technology applications are increasingly complicating and reducing company performance

The use of information technology results in the loss of human supervision functions

Technological automation in companies that face resistance from human resources

Micro-level

Middle-level

Meso-level

Macro-level

Every decision depends on and prioritizes shareholders

Balance of roles and functions between directors and commissioners in carrying out company sustainability

Leadership style or work culture rhythm that shows success

The ability of directors to run the company and influence the company's operations

Investor confidence in investing investment capital that benefits the company

Strategy to beautify financial reports or company performance

Improving the appearance of the company through attention to legal and economic loopholes

Opportunities for directors to change the company's vision and mission through mastering information

The shareholder mechanism announces the suitability of compensation for directors.

Directors' actions in disclosing information based on salaries paid

Selling company information from insiders to external parties

The higher the directors' pay, the more transparent it will be to shareholders

Supervision of program implementation

Increase in the number of independent commissioners

Ethics audit by committee

Revise code of ethics guidelines regularly

Organizational management based on agency theory

All interested parties can take part in decision-making

All interested parties can participate in monitoring the running of the organization

Organizational management based on stakeholder theory

Ethics of corporate governance

Corporate ethics

Governance of corporate ethics

Ethics of code corporate

Compulsion to comply with applicable legal requirements

Prevent prosecution by showing evidence that the company has fulfilled its integrity and responsibility obligations

Company confidence in utilizing working time allocation efficiently

Implementation of the company's intrinsic obligations to ensure the implementation of valuable corporate ethical standards

Australia and Singapore tend to be shareholder

China, India and Japan tend to be stakeholders

Social norms, the political realm, and cultural values influence governance

Ethics in governance is aimed at eradicating corruption

Exclusive implementation of the shareholder model

Implementation of the stakeholder model in an inclusive manner

Ownership is concentrated in powerful elites or influential families

The external monitoring system has not been implemented effectively