Modified of ERM Index for Southeast Asia

This study, conducted between 2016–2021 on Southeast Asian mining companies, introduces the Modified Enterprise Risk Management (ERM) Index (MERMi) to measure implementation of ERM based COSO 2017 principles. The study found that is influenced by industry competition, company complexity, international diversification, and financial leverage. Meanwhile, size along with positively impact firm performance. However, diversification leverage do not have a significant effect also concludes there are no differences factors influencing in Asia advanced countries such as USA, Europe, Germany. findings emphasize importance integrating risk management into corporate governance sector Asia. limitations this research include lack precise disclosures implementation, which could be addressed through more other sectors using ISO 31,000 replacement for measuring instruments.