This research discusses the good corporate governance principles in State
– Owned Enterprises as emiten in Indonesian positive law and its implications to
SOE’s performances. To achieve the purpose of the research, we discuss two
concepts in this research which are SOE’s as business entity and corporate
governance. We use normative method in this research which all datas and
concepts are gained from literature research about acts and its norms and legal
opinion in some articles, journals and books. To achieve the conclusion of this
research we use deductive method. The result of this research comes in four main
things. First, the good corporate governance principles in SOE’s as emiten are
implemented in the rules on SOE’s such as Law Number 19/2003 on State –
Owned Enterprises and rules are enacted by Minister of State – Owned
Entreprises, and the rules on capital market such as Law Number 8/ 1995 on
Capital Market and rules are enacted by Bapepam - LK. Second, the good
corporate governance principles in SOE’s as emiten are implemented in the
procedures on initial public offering ( IPO ) in capital market. Third, the good
corporate governance principles are implemented by fact based on the SOE’s
Annual Reports. Fourth, the implementation of good corporate governance
principles have positive connection to the SOE’s performances.