Policy and Governance in Responsible Management Education: How National Frameworks Enable and Constrain Education–Industry Collaboration in ASEAN

ABSTRACT This study investigates how national governance frameworks mediate education–industry collaboration and the development of responsible management capabilities in MBA programs across ASEAN. Integrating Astin's input–environment–outcome framework and Mezirow's transformative learning theory, we argue that addressing the business–society–environment nexus requires a cognitive transformation, shifting students from a purely profit‐driven mindset to a society‐driven one. Findings from a PLS‐SEM analysis of 307 MBA students reveal a significant national contingency in how the Principles for Responsible Management Education (PRME) are translated into practice. In Malaysia's structured, competency‐based system (MQA), mandatory PRME‐aligned curriculum content is the paramount driver of perceived learning outcomes and critical reflection, demonstrating how top‐down accreditation enables scalable PRME integration but constrains deep collaborative industry engagement. Conversely, in Thailand's learner‐centered context (OHEC), the lack of significant interaction effects serves as a diagnostic of a governance gap between policy intent and classroom reality. This study provides a novel comparative analysis offering an evidence‐based governance contingency matrix, providing actionable policy recommendations for accreditation bodies to redesign governance to better enable education–industry collaboration.