An Interpretive Structural Model of Barriers in Implementing Corporate Governance (CG) in Pakistan

Abdul Aziz Khan Niazi, Tehmina Fiaz Qazi and Abdul Basit
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Abdul Aziz Khan Niazi: Assistant Professor,Institute of Business and Management,University of Engineering and Technology, Lahore, Punjab, Pakistan.
Tehmina Fiaz Qazi: Assistant Professor, Institute of Business and Management,University of Engineering and Technology, Lahore, Punjab, Pakistan.
Abdul Basit: Academics Head,``Lahore Institute of Science and Technology,Lahore, Punjab, Pakistan.

Global Regional Review, 2019, vol. 4, issue 1, 359-375

Abstract: The purpose of this study is to structure a model of relationships among barriers in the implementation of CG in Pakistan. It also points out a key barrier in embarking on the regime of CG. The design of research consists of a literature review, data collection and analyses. Modeling methodology entails ISM coupled with MICMAC. Findings revealed that “lack of investigation about the rights of minority shareholders†is the most critical barrier since this occupies the bottom of the model. Whereas, barriers namely “basic shareholders rights are not often protected, minority shareholders rights are often violated, lack of autonomy on the part of the auditors and rules requiring equity ownership disclosure are not followed†are least critical since they occupy the top of the model. MICMAC analysis revealed that three barriers fall in the independent quadrant, six in the linkage, six independent and two in autonomous. This study is helpful to regulators and corporations to successfully embark on the regime of CG.

Keywords: Barriers; Corporate Governance; ISM; MICMAC; Pakistan; Shareholders (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:aaw:grrjrn:v:4:y:2019:i:1:p:359-375

DOI: 10.31703/grr.2019(IV-I).39

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