MINORITY SHAREHOLDERS' PROTECTION IN THE INDONESIAN CAPITAL MARKET

This paper explores the regulatory reform in Indonesia corporate governance along with capital market regulatory framework which has continuously been conducted in response to enhance minority shareholders' protection and the implementation of corporate governance in public listed companies, particularly in protecting minority shareholder right through three short cases studies. The three cases analysed in this paper show that the implementation of corporate governance in public listed companies is still weak, resulting from the lack of awareness of how to implement corporate governance by the public listed companies, the opportunistic behaviour o f public listed companies using loopholes in the regulations to the weaknesses in the enforcement of capital markets law.