Agency Theory Basic of Theoretical

16 1. Transparency To maintain objectivity in doing business, companies must provide material and relevant information in a way that is easily accessible and understood by stakeholders. Companies must take the initiative to express not only the problem that required by legislation, but also important for decision-making by shareholders, creditors, and other stakeholders. 2. Accountability Companies must be accountable for performance in a transparent and fair. Therefore, the company must be properly managed, scalable, and according to the company while taking into account the interests of shareholders and other stakeholders. Accountability is a necessary precondition for achieving continuous performance. 3. Responsibility Companies must comply with legislation and to implement responsibilities towards society and the environment so that it can maintain the continuity of the business in the long term and to be recognized as a good coporate citizen. 4. Independency To accelerate the implementation of the GCG principles, the company must be managed independently so that each organ of the company does not dominate the other and can not be interfered with by other parties. 17 5. Fairness In conducting its activities, the company must always take into consideration the interests of shareholders and other stakeholders based on the principles of fairness and equality. According to the Forum for Corporate Governance in Indonesia 2011, the delivery of good corporate governance, should be supported by the availability of: 1. The number of independent directors is at least 30 of the total number of commissioners. 2. Importance formed audit committee. 3. Need formed corporate secretary. In order to achieve good corporate governance, we need a way or mechanism. Corporate governance mechanism is the way a company or applied to achieve good corporate governance. According Syakhroza 2005: 14, in the area of controlling, corporate governance mechanism is divided into two, namely internal corporate governance mechanism and external corporate governance mechanism. Corporate governance mechanism is internal is an interaction between the parties to the decision makers in the company that includes the Board of Directors, Board of commissioner, executive management that includes audit committee, and the General Meeting of Shareholders AGM Petrolia, 2007: 127. Internal corporate governance mechanisms