Corporate Governance and Reporting: An Empirical Study of the Listed Companies in Bangladesh

Dhaka University Journal of Business Studies, Vol. 28, No. 1, June 2007

32 Pages Posted: 22 May 2007 Last revised: 26 Aug 2008

See all articles by Md. Hamid Ullah Bhuiyan

Md. Hamid Ullah Bhuiyan

University of Dhaka - Department of Accounting and Information Systems

Pallab Kumar Biswas

University of Otago

Abstract

Corporate governance is a burning issue now-a-days. In Bangladesh, a number of attempts have been made on part of different governmental and non-governmental institutions for ensuring better corporate governance. Considering the importance of this issue, this paper has tried to examine the actual corporate governance practices in the listed public limited companies by considering 45 disclosure items. A random sample of 155 listed Public Limited Companies (PLCs) has been taken for this purpose. To facilitate the analysis, a Corporate Governance Disclosure Index (CGDI) has been computed and a number of hypotheses have been tested. The mean and standard deviation of CGDI have been found to be 56.04 and 17.20 respectively. In this study, significant difference has been found to exist among the CGDI of various sectors. Financial sector has been found to make more intensive corporate governance disclosure than the non-financial sector. In general, companies have been found to be more active in making financial disclosures rather than non-financial disclosures. Multiple regression result shows that corporate governance disclosure index is significantly influenced (at 5% level of significance) by local ownership, the SEC notification, and the size of the company. Belonging to financial or non-financial institution, age, multinational company, and size of the board of directors are not found to have any significant impact on corporate governance disclosure.

Keywords: Corporate Governance, SEC notification, financial disclosure, multinational company

JEL Classification: G34, M41, M45, M47, G32

Suggested Citation

Bhuiyan, Md. Hamid Ullah and Biswas, Pallab Kumar, Corporate Governance and Reporting: An Empirical Study of the Listed Companies in Bangladesh. Dhaka University Journal of Business Studies, Vol. 28, No. 1, June 2007 . Available at SSRN: https://ssrn.com/abstract=987717

Md. Hamid Ullah Bhuiyan (Contact Author)

University of Dhaka - Department of Accounting and Information Systems ( email )

University of Dhaka
Ramna, Dhaka, 1000
Bangladesh

Pallab Kumar Biswas

University of Otago ( email )

P.O. Box 56
Dunedin, Otago 9010
New Zealand
+64 3 679 8108 (Phone)

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