Rationality, traditionalism and the state of corporate governance mechanisms

Shahzad Uddin and Jamal Choudhury

Accounting, Auditing & Accountability Journal, 2008, vol. 21, issue 7, 1026-1051

Abstract: Purpose - The purpose of this paper is to provide an account of corporate governance practices in Bangladesh. This paper demonstrates that the traditionalist culture mediates the rationalist/legalist framework of corporate governance in Bangladesh. Design/methodology/approach - A series of semi‐structured interviews were conducted. Observations and the personal working experience of one of the researchers, along with documentation, provided rich sources of information for the paper. Findings - The findings show that families have a dominant presence in all aspects of corporate governance. Boards of directors in companies play a significant part in serving the interests of families rather than those of general shareholders. Research limitations/implications - This study focuses on corporate governance practices in a traditional setting and shows how traditional culture and values are in conflict with the rational ideas imported from a different setting. Originality/value - The paper adds to the literature on corporate governance, especially in the context of less‐developed countries. It will be of great value to researchers and practitioners seeking to gain a better understanding of corporate governance frameworks in various settings.

Keywords: Corporate governance; Management accountability; Developing countries; Bangladesh (search for similar items in EconPapers)
Date: 2008
References: View complete reference list from CitEc
Citations: View citations in EconPapers (29)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:aaajpp:v:21:y:2008:i:7:p:1026-1051

DOI: 10.1108/09513570810907465

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