Corporate Governance Practices in Bangladesh: An Overview of Pharmaceutical, Chemical and Ceramic Industry

Abstract

This study investigates the impact of corporate governance practices on organizations in the emerging economies like Bangladesh. Data were collected from Chittagong Stock Exchange (CSE) ltd. The sample sizes are 14 listed firms from the CSE. This study aims to highlight the corporate governance practices with particular reference to Pharmaceutical & Chemical, Ceramic and some miscellaneous sector/industry of Bangladesh. Given their role in financial development and economic progress, the pharmaceutical, chemical, and ceramic industries continue to place a high value on corporate governance. The corporate governance frameworks of Bangladesh's pharmaceutical, chemical, and ceramic industries have been the focus of this paper. These frameworks cover ownership structures, board issues, executive aspects, disclosure, audit practices, directors' reporting compliance percentages, and related weaknesses. The study also demonstrated how regulatory shortcomings and political meddling have exacerbated governance issues in the chemical, ceramic, and pharmaceutical industries. The study shows and finds out that corporate governance practices in Bangladesh is not satisfactory. There is significant lacking in good governance but no extreme fault in most of the companies. We still have some scopes of further improvements.

Keywords

• Corporate Governance
• Stewardship
• Stakeholder
• Shareholders
• Compliance

How to cite

Md. Imranul Islam, Md. Rasel Hawlader (2024). Corporate Governance Practices in Bangladesh: An Overview of Pharmaceutical, Chemical and Ceramic Industry. Sonargaon University Journal, 4(I & II), 52–65.

@article{islam20246,
  title   = {Corporate Governance Practices in Bangladesh: An Overview of Pharmaceutical, Chemical and Ceramic Industry},
  author  = {Md. Imranul Islam and Md. Rasel Hawlader},
  journal = {Sonargaon University Journal},
  volume  = {4},
  number  = {I & II},
  pages   = {52--65},
  year    = {2024},
  issn    = {2518-3125},
  url     = {https://su.edu.bd/journal/volume-4/corporate-governance-practices-in-bangladesh-an-overview-of-pharmaceutical}
}