Ascendia: Journal of Economic and Business Advancement
Vol. 1 No. 1 (2025): September: Ascendia: Journal of Economic and Business Advancement

Corporate Ethics and Sustainable Governance in ASEAN: The Role of ESG Practices in Enhancing Long-Term Competitiveness

Virginia Grace Yvonne Waruwu (Universitas Atma Jaya Yogyakarta)
Marisa Meilano Rizki (Universitas Islam Syekh Yusuf)



Article Info

Publish Date
13 Sep 2025

Abstract

This study examines the critical relationship between corporate ethics, Environmental, Social, and Governance (ESG) practices, and sustainable competitiveness among ASEAN corporations. As regional economies transition toward responsible capitalism, ethical governance has emerged as a strategic determinant of long-term value creation. Using a qualitative-comparative approach supported by secondary data, the research analyzes regulatory developments, ESG disclosure performance, and governance maturity across six ASEAN countries. The findings reveal that firms with strong ethical foundations and integrated ESG frameworks achieve higher investor confidence, enhanced transparency, and superior market resilience. Singapore and Malaysia lead in governance and ESG adoption, while emerging markets like Indonesia, Vietnam, and the Philippines demonstrate rapid institutional progress. The study highlights that ethical consistency and ESG integration function as dual catalysts for reducing operational risks, improving innovation capacity, and fostering social legitimacy. ASEAN’s movement toward harmonized sustainability governance signifies a structural realignment of corporate identity, positioning ethics and ESG as central pillars of sustainable regional competitiveness

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Journal Info

Abbrev

ascendia

Publisher

Subject

Economics, Econometrics & Finance

Description

Ascendia: Journal of Economic and Business Advancement is a peer-reviewed academic journal dedicated to the dissemination of high-quality research in economics, management, accounting, and business. The journal provides an open platform for researchers, scholars, practitioners, and academics to ...