GRATIFIKASI SEBAGAI PELANGGARAN ETIK DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.24843/EJMUNUD.2026.v15.i8.p07Keywords:
ethical violations; gratuities; indonesia stock exchangeAbstract
Integritas sektor jasa keuangan di Indonesia yang tercermin dari hasil Survei Penilaian Integritas (SPI) tahun 2025 yang menempatkan Indonesia dalam kategori “Rentan Korupsi”. Penelitian ini bertujuan menganalisis urgensi pencegahan gratifikasi sebagai bentuk pelanggaran etik di Bursa Efek Indonesia (BEI). Penelitian menggunakan pendekatan kualitatif deskriptif, fenomena gratifikasi melalui studi literatur dan analisis data sekunder dari laporan Komisi Pemberantasan Korupsi (KPK) periode 2021-2025. Hasil penelitian menunjukkan bahwa meskipun integritas lembaga secara agregat dinilai terjaga, terjadi penurunan signifikan pada aspek penilaian ahli (Indeks Eksper) yang berkaitan dengan potensi suap, konflik kepentingan, dan intervensi pihak luar. Analisis menggunakan kerangka Fraud Diamond Theory mengungkapkan bahwa pelanggaran di BEI dipicu oleh adanya tekanan target kuantitas emiten, celah kesempatan dalam sistem pengawasan, rasionalisasi tindakan sebagai "jasa teknis", serta kapabilitas individu dalam memanfaatkan jabatan. Dampak dari praktik ini bukan sekadar masalah administratif, melainkan mencederai kepercayaan publik dan menurunkan kualitas emiten di pasar modal. Sebagai langkah mitigasi, penelitian ini menegaskan pentingnya penguatan kode etik organisasi yang terintegrasi dan sinergi pengawasan lintas lembaga untuk menutup celah praktik tidak etis yang dapat merusak ekosistem investasi nasional.
The integrity of the financial services sector in Indonesia is reflected in the results of the 2025 Integrity Assessment Survey (SPI) which places Indonesia in the category of "Vulnerable to Corruption". This study aims to analyze the urgency of gratuity prevention as a form of ethical violation on the Indonesia Stock Exchange (IDX). The research uses a descriptive qualitative approach, the phenomenon of gratuities through literature studies and secondary data analysis from the Corruption Eradication Commission (KPK) report for the 2021-2025 period. The results showed that although the integrity of the institution was assessed as aggregate maintained, there was a significant decrease in the aspect of expert assessment (Expert Index) related to potential bribery, conflicts of interest, and external intervention. Analysis using the Fraud Diamond Theory framework revealed that violations on the IDX were triggered by the pressure of issuer quantity targets, opportunities gaps in the supervisory system, rationalization of actions as "technical services", and individual capabilities in utilizing positions. The impact of this practice is not just an administrative problem, but it hurts public trust and lowers the quality of issuers in the capital market. As a mitigation measure, this study emphasizes the importance of strengthening an integrated organizational code of ethics and cross-agency supervision synergy to close the loopholes of unethical practices that can damage the national investment ecosystem.
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