Corporate governance after the Asian crisis

Purpose - The article sets out to search for an appropriate questionnaire querying corporate governance attitudes in Indonesia. Many surveys query governance issues, as strengths and weaknesses, but do not identify attitudes to governance. A new approach is required. Design/methodology/approach - The article focuses first on the governance environment of post‐crisis Indonesia and questions the extent to which vulnerability has decreased. Findings - Vulnerability is related to issues of prevention and preparedness, which relate to normative and behavioural governance. It appears that recent governance instruments introduced in Indonesia may not so much bring along change – in response to earlier failure – as encourage a benign approach through increased layers of requirements of internal and external information provision and disclosure. The crisis may, however, have initiated or caused changes in terms of ownership and control of the corporations in Indonesia. Originality/value - A taxonomy is proposed identifying how business leaders think about these issues. Governance policies can then track the changes in attitudes and ensure adequate societal checks and balances.