Measuring governance in the Asian context–the need for more appropriate frameworks

Business organizations today are under the spotlight more than ever before. Hence, it is imperative to operate in a socially responsible manner, and corporate governance has a critical role to play in this regard.

Effective governance ensures that a firm ticks the right boxes and helps to create a favorable impression. Similar sentiments apply at the national level, where good governance is equally important. Indeed, it is widely regarded as the most accurate pointer at government performance levels.

The inherent complexity of governance is evidenced by the fact that various definitions continue to prevail. It is therefore unsurprising that a...