Examining the Role of Corporate Governance Practices in Enhancing Stakeholder Trust: Insights from Global Case Studies

Md. Ridoy Hasan, Imran Hossain and Md. Hafizul Islam
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Md. Ridoy Hasan: Department of Business Administration, Bangladesh Army University of Science and Technology, Saidpur 5310, Bangladesh.
Imran Hossain: Department of Business Administration, Rabindra Maitree University, Kushtia, Bangladesh.
Md. Hafizul Islam: Department of Accounting & Information Systems, Bangladesh Army University of Science and Technology, Saidpur 5310, Bangladesh.

International Journal of Science and Business, 2024, vol. 42, issue 1, 212-227

Abstract: Corporate governance practices are fundamental in promoting transparency, accountability and trust among key stakeholders leading to the long-term sustainable performance of organizations. This study investigates the effects of corporate governance in strengthening stakeholder confidence insights from global case studies. Incorporating analysis of the board of directors, executive compensation and shareholder activism as primary mechanisms of corporate governance, it examines their effects on trust-building. This is followed by discussion of its theoretical foundations and historical evolution. An exploration of selected case studies from different regions of the world, demonstrating positive practices and challenges in establishing stable governance frameworks. This suggests that corporate governance mechanisms should be designed in a manner where more than just shareholders are being considered, including employees, customers and regulators so as to allow for trust and legitimacy towards organizations over the long-term. The study offers practitioners and policymakers concrete guidelines while identifying prospects for future research in an ever-evolving domain of corporate governance.

Keywords: Corporate Governance; Stakeholder Trust; Accountability; Transparency; Case Studies. (search for similar items in EconPapers)
Date: 2024
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