Danantara Sebagai Model Sovereign Wealth Fund: Reformasi Tata Kelola Aset Negara Indonesia 9 3
DOI:
https://doi.org/10.26623/slsi.v24i3.15539Abstract
Pembentukan Daya Anagata Nusantara (Danantara) menandai transformasi fundamental dalam sistem tata kelola aset negara di Indonesia melalui pengadopsian model Sovereign Wealth Fund (SWF) terintegrasi. Penelitian kualitatif deskriptif-eksploratif ini bertujuan untuk: (1) menganalisis mekanisme reformasi tata kelola aset negara di bawah naungan Danantara, dan (2) mengevaluasi dampaknya terhadap peningkatan profesionalisme manajemen serta kontribusi ekonomi-fiskal nasional secara menyeluruh. Data primer diperoleh melalui kegiatan Focus Group Discussion (FGD) terstruktur bersama pihak regulator (Kementerian Keuangan), praktisi BUMN (PT Adhi Karya Tbk), dan akademisi (Universitas Jenderal Achmad Yani), yang kemudian dianalisis menggunakan model interaktif Miles, Huberman, dan Saldana secara berkesinambungan hingga mencapai kejenuhan data. Hasil penelitian mengungkapkan bahwa: pertama, mekanisme reformasi dilaksanakan melalui konsolidasi portofolio aset secara terpusat (superholding) berstandar global serta integrasi Sistem Informasi Akuntansi guna mengatasi permasalahan fragmentasi kelembagaan dan ambiguitas akuntabilitas BUMN pada era pra-pembentukan. Kedua, Danantara berhasil menggeser paradigma dan budaya birokrasi menuju manajemen investasi yang independen, berbasis kompetensi, serta profesional, sekaligus memproyeksikan peningkatan nilai aset (value creation) dan optimasi kontribusi dividen bagi APBN. Penelitian ini menyimpulkan bahwa keberhasilan operasional Danantara tidak hanya ditentukan oleh keunggulan desain kelembagaan di atas kertas, melainkan sangat bergantung pada konsistensi penegakan tata kelola di tingkat operasional, pengawasan independen, serta mitigasi risiko politis melalui penyusunan berbagai pedoman teknis regulasi turunan. Penelitian ini memberikan rekomendasi kebijakan bagi pemerintah untuk memperkuat kerangka hukum dan transparansi demi menjamin keberlanjutan investasi nasional
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