Do Families Shape Corporate Board Structure in Emerging Economies?

Mohammad Muttakin, Arifur Khan and Nava Subramaniam
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Nava Subramaniam: Deakin University

A chapter in Corporate Governance in Emerging Markets, 2014, pp 109-131 from Springer

Abstract: Abstract This study investigates whether there are significant differences in corporate board structure between family and non-family firms using listed companies in Bangladesh where family firms are the most dominant form of public companies. The results of this study suggest that family firms in Bangladesh adopt a distinctly different board structure from non-family firms. In particular, this study finds that family firms have a lower proportion of independent directors and foreign directors than non-family firms. Further, family firms have smaller boards than non-family firms. However, family firms are likely to have more CEO duality and female directors than their non-family counterparts. The findings of this study contribute to extant research on corporate board structure. The overall findings of this study imply that families of Bangladeshi firms have a different board structure compared to non-family firms, and the structure appears to promote a close locus of control for families that facilitates family dominance to prevail.

Keywords: Corporate Governance; Firm Size; Family Firm; Independent Director; Minority Shareholder (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-642-44955-0_5

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DOI: 10.1007/978-3-642-44955-0_5

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