PRINSIP KETERBUKAAN (DISCLOSURE) PADA PERUSAHAAN GO PUBLIC DI INDONESIA

Abstract

Masalah pokok penelitian ini adalah bagaimana Prinsip Keterbukaan (Disclosure) wajib diterapkan di  dunia Pasar Modal, khususnya sebelum perusahaan melakukan go public dan setelah saham didaftarkan di Pasar Modal sesuai dengan UU No. 8 Tahun 1995 Tentang Pasar Modal ? Dengan menggunakan metode penelitian kualitatif yuridis normatif, temuan penelitian mengungkapkan bahwa : Pertama, adanya perusahaan go public perlu untuk menaati kewajibannya untuk menerapkan Prinsip Keterbukaan sebelum melakukan go public. Kedua, Prinsip Keterbukaan wajib selalu diterapkan setelah saham didaftarkan di dunia Pasar Modal. Bahkan kewajiban perusahaan go public (emiten) dilarang melakukan tindakan yang berupa transaksi yang melibatkan orang dalam perusahaan (Insider Trading). Berdasarkan temuan penelitian, ada tiga hal yang disarankan penulis. Pertama agar perusahaan go public untuk selalu mentaati kewajibannya dalam menerapkan Prinsip Keterbukaan (Disclosure). Kedua,perlunya pihak calon investor atau investor memperhatikan resiko bisnis yang berkaitan dengan investasi mereka dalam dunia pasar modal. Ketiga, perlunya profesi penunjang pasar modal untuk meningkatkan kualitas, integritas dan mematuhi kode etik profesi masing-masing guna mengoptimalkan pasar modal sebagai sarana investasi yang tertib dan aman.

The main problem of this research is how the Principle of Openness (Disclosure) must be applied in the world of the Capital Market, especially before companies go public and after shares are registered in the Capital Market in accordance with Law no. 8 of 1995 About the Capital Market? Using normative juridical qualitative research methods, the findings of the study reveal that: First, the existence of a publicly traded company is necessary to comply with its obligation to apply the Principle of Openness before going public. Second, the Principle of Disclosure must always be applied after shares are registered in the Capital Market world. Even the obligation of a go public company (issuer) is prohibited from taking action in the form of transactions that involve insiders in the company (Insider Trading). Based on the research findings, there are three things suggested by the author. First, for companies to go public to always comply with their obligations in implementing the Principle of Openness (Disclosure). Second, the need for potential investors or investors to pay attention to the business risks associated with their investment in the world of capital markets. Third, the need for capital market supporting professions to improve quality, integrity and comply with the respective professional code of ethics in order to optimize the capital market as an orderly and safe investment vehicle