In 2014, I published a paper titled "Review of Corporate Governance Bundle" among other papers I published in this regard. You may want to check them out through Google Scholar or here through RG.

The above-mentioned paper reviews the literature as regards the evolution, development, application, and potential future use of this bundle, together with relevant critiques.

The basic principles of Corporate Governance are accountability,Transparency, Fairness and responsibility. Corporate Governance examine policy and economic measurements to develop a frame work for understanding what constitutes good governance in non listed companies.In developing Countries we are establishing number of organisations so companies act published some rules and regulations for develop the country but not effect the country with human behaviour that's why...they encouraged in such areas like..., Ethical behaviour, Corporate strategy, Environmental awareness, Compensation and risk management.The corporate governance always practices eradicates the potential issues in the industry by placing an appropriate mechanism in compliance with the law of the land for keeping the organisation structured under the Umbrella of the corporate manual of organisation.

Hi there, you can refer to my publications, particularly on corporate governance presented in the given link:

https://www.researchgate.net/profile/Sitara-Karim/research

Corporate governance is a system which provides rules that governs business and employees. So to develop a corporate governance index one must include board structure variables like board size, composition, duality, committees, meetings, remuneration etc. Corporate governance rules have been framed in companies act and has been regularly modified due to undue advantage taken by perpetrators to commit crime. In recent times there has been a recent surge in crime and theft among developing countries which hampers not only there economic growth but reputation and image among rest of the world. So role of corporate governance index become much more important.

Governance standards for institutions and public administrations The rules of governance of public institutions can be considered complementary to the rules and texts that govern these companies Under the laws and regulations governing it. The principles of the Organization for Economic Co-operation and Development have been imitated OECD governance of state-owned enterprises as a reference when establishing corporate governance principles The public business sector in any country.

These principles are divided into six groups: 7. Emphasis on the existence of an effective regulatory and legal framework for public institutions and administrations. 1. Adoption of internal audit units. 3. Equal treatment of shareholders (owner, state or individual contribution). 4. Relationships with stakeholders through activating internal audit units in all areas State administrations. 1. Transparency and disclosure through activating the work of oversight bodies (Accounting Bureau). service board Civil Affairs, Central Inspection, and any other regulatory bodies. 6. Responsibilities of the boards of directors of public institutions

It's Transparance

You may recognize that "non-listed" firm are under no regulatory obligation to comply because of who they are in the eyes of the law. By the very nature of their non-listing not much scrutiny is accorded to them. However, to appear to be "nice" entities, they borrow eclectically from their countries' adopted corporate governance codes.

I am contemplating (in fact, in the process of) developing corporate governance index for one developing country. But funding appears to be delaying it. We can collaborate on the ongoing project.

The main criteria for corporate governances index for non listed company are Managing director, audit committee, Duality and all other index except foreign director, Block share holders, Institutional directors can not be among the corporate governances criteria index for non listed company