Corporate Governance and its Implication in Bangladesh
Pakistan Journal of Social Sciences, Vol. 3, No. 3, pp. 216-224, 2005
13 Pages Posted: 18 Nov 2008 Last revised: 14 Dec 2008
Date Written: July 1, 2005
Bangladesh is one of the third world countries having many opportunities in corporate sector. Today, Business has to some dynamism with their products otherwise consumer will not attract of their product. E-business, e-commerce, and e marketing have been promoted as the rescuer of the business world and a catalyst to twenty-first century performance in the global marketplace. Now we have new word corporate Governance in the Bangladesh context. This paper presents the meaning, scope, importance and the implementation of corporate governance practices in Bangladesh. It also examines the internal mechanisms like the board of directors, their independence, the challenges faced by institutional investors, the role of internal and external communication mechanisms, whistle blowers and th e legal protection needed for them to ensure corporate governance practices. Successful corporate governance depends largely of trade-off among the various conflicting interest groups like Government, Society, Inventors, Creditors, and Employees of the organization. The basic governance issues related to the effectiveness and accountability of board of directors. This paper further examines the external mechanisms through like corporate forums, media analysts, structural reforms and governance ratings to incorporate corporate governance codes into corporations. In addition, the researchers try to recommend regarding governance that can help a lot for developing corporate sectors in Bangladesh.
Keywords: Corporate Governance, Implication, Bangladesh
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