Implementation of corporate governance principles to support sustainable development goals in Yogyakarta’s traditional markets
International Journal of Ethics and Systems
ISSN: 2514-9369
Article publication date: 11 October 2022
Issue publication date: 12 July 2023
Abstract
Purpose
Traditional market revitalisation is an important policy designed to reduce unfair competition between traditional markets and modern businesses. This study aims to determine, analyse and illustrate the implementation of corporate governance principles so that traditional markets can be revived in accordance with the United Nations’ sustainable development goals (SDGs) program, with specific reference to the Yogyakarta Special Region.
Design/methodology/approach
The study relied on primary and secondary data sources. Data were collected through interviews, observations, analysis of documentation and review of the literature. The research was conducted in Yogyakarta Special Region, specifically Bantul Regency, Kranggan Market in Yogyakarta City, Sentolo Market in Kulonprogo Regency, Gentan Market in Sleman Regency and Argosari Market in Gunungkidul Regency. The data were analysed using the qualitative research method and a descriptive approach.
Findings
Traditional markets play a vital role in strengthening the national economy and preserving an old culture that reflects local traditions. Good collaboration between parties in the implementation of corporate governance is evident, despite market revitalisation proving to be highly costly. In some places market development has simply resulted in marginalising the old traders who cannot improve their livelihoods. Therefore, the revitalisation program of traditional markets must not only improve the facilities but all aspects of traditional markets.
Originality/value
To the best of the authors’ knowledge, this is an original study based on primary observation, and it has implications for all emerging economies where traditional markets are being replaced by modern markets.
Keywords
Acknowledgements
This research acknowledges Universitas Amikom Yogyakarta, Universiti Utara Malaysia, Accounting Research Institutes, Universiti Teknologi MARA and Universitas Islam Indonesia for the financial and infrastructural supports while conducting this study.
Citation
Pahlevi, R.W., Alam, M.M., Harjito, D.A. and Said, J. (2023), "Implementation of corporate governance principles to support sustainable development goals in Yogyakarta’s traditional markets", International Journal of Ethics and Systems, Vol. 39 No. 3, pp. 659-676. https://doi.org/10.1108/IJOES-06-2021-0116
Publisher
:Emerald Publishing Limited
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