The strengthening of corporate governance based on applied fuzzy logic

Despite advances in research on corporate governance, there are still knowledge gaps. The article aims to broaden the debate on strengthening corporate governance and propose a tool to facilitate decision‐making. The research is novel because of the engagement of 117 master's students from a business school, contributing to competency‐based learning on Good Corporate Governance (GCG). This is applied research with the explanatory objective and quantitative approach through modeling and simulation. The OWA Operator assesses GCG principles' adequacy and reveals a ranking of 28 enterprises listed on the Lima Stock Exchange in corporate governance, increasing transparency and reducing risks. The results indicate that six enterprises would be solid in the GCG, and the corporate governance should consider strategic capability, fair dealing, transparency, and good social responsibility practices. The main contributions are reducing the identified knowledge gaps and proposing actions to strengthen governance. The authors suggest promising lines of research.