Implementation of Good Corporate Governance by the Bureau of Economic Affairs in its Supervisory Role Over Regional-Owned Enterprises (BUMD) in East Java

This study aims to describe and analyze the scope of supervisory duties carried out by the Bureau of Economic Affairs over Regional-Owned Enterprises (BUMD) in East Java, as well as the principles of Good Corporate Governance applied by the Bureau in its supervisory role. The research adopts an empirical juridical approach, which examines applicable laws and regulations about real-world conditions in the field. The results indicate that the scope of supervisory duties by the Bureau of Economic Affairs for Regional-Owned Enterprises in East Java includes organizational, management, and financial development; governance supervision; asset utilization oversight; and business development guidance. The principles of Good Corporate Governance applied by the Bureau in its supervisory duties include: 1. Transparency, 2. Accountability, 3. Responsibility, 4. Independence, and 5. Fairness.