Corporate governance in Bangladesh: an overview

Paper


Rashid, Afzalur, De Zoysa, Anura and Rudkin, Kathy. 2007. "Corporate governance in Bangladesh: an overview." 19th Asian-Pacific Conference on International Accounting Issues. Kuala Lumpur, Malaysia 11 - 13 Nov 2007 Fresno, CA, United States.
Paper/Presentation Title

Corporate governance in Bangladesh: an overview

Presentation TypePaper
AuthorsRashid, Afzalur (Author), De Zoysa, Anura (Author) and Rudkin, Kathy (Author)
Journal or Proceedings TitleProceedings of the 19th Asian-Pacific Conference on International Accounting Issues
ERA Conference ID50252
Number of Pages24
Year2007
Place of PublicationFresno, CA, United States
Web Address (URL) of Paperhttp://www.apconference.org/main.asp?goto=openPage.asp&pid=25
Conference/Event19th Asian-Pacific Conference on International Accounting Issues
Asian-Pacific Conference on International Accounting Issues
Event Details
19th Asian-Pacific Conference on International Accounting Issues
Event Date
11 to end of 13 Nov 2007
Event Location
Kuala Lumpur, Malaysia
Event Details
Asian-Pacific Conference on International Accounting Issues
APC
Abstract

Following a large number of corporate collapses around the world, for example Enron, WorldCom, Ansett, Harris Scarfe, HIH Insurance, One Tel and Parmalat, the ensuing profound impact on investors resulted in considerable attention been given to studying corporate governance in developed countries such as the United States, the United Kingdom, Australia, Germany and Japan. However, there is a dearth of studies on corporate governance practice in emerging economies such as Bangladesh. This study attempts to examine the corporate governance practice in Bangladeshi companies in the light of two dominate models of corporate governance, first the Anglo-American Model and second, the German-Japanese Model. This study reduces the dearth of literature on corporate governance in Bangladesh. This study finds that many of the characteristics of the Bangladeshi context align with the German-Japanese model, such as a concentration of shareholdings by the banks and financial institutions or dominant shareholders leading to a high degree of ownership control, a less liquid capital market, weak shareholders’ rights, a dominant agency conflict between controlling and minority shareholders, and a limited capacity for boards of directors. The study also identifies six specific corporate governance characteristics in relation to current corporate government practices in Bangladesh, first a weakly enforced legal and regulatory framework, secondly weak institutional controls, thirdly a lacuna of professionals to develop a sound corporate governance culture, fourthly a predominance of individual investors, fifthly a dearth of foreign or institutional investors, and sixthly limited transparency and weak disclosure practices.

KeywordsBangladesh, board, collapse, corporate governance, emerging economy, governance model
ANZSRC Field of Research 2020350799. Strategy, management and organisational behaviour not elsewhere classified
Public Notes

Conference program or papers no longer on conference website. No evidence of copyright restrictions for Author version of paper.

Byline AffiliationsSchool of Accounting, Economics and Finance
University of Wollongong
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