Development of Corporate Governance Regulations: The Case of an Emerging Economy

Siddiqui, Javed

doi:10.1007/s10551-009-0082-4

“…Bangladesh corporate sector is characterised by family dominant ownership structure, poor legal and administrative framework, and a lack of implementation of laws and regulations (Siddiqui 2010). Like many other developing countries, most of the companies in Bangladesh are predominantly family owned or substantial shares are controlled by family members.…”

Section: Bangladesh: Some Contextual Insightsmentioning

confidence: 99%

“…CSR practices are influenced mainly by the powerful stakeholders (e.g., international buyers in export oriented industry) and powerful board of the directors (Islam and Deegan 2008;Hossain et al 2015). Second, governance systems for both financial and non-financial reporting are poor because there is no formal guideline for CSR (Siddiqui 2010). It has been also argued that corruption and politics plays an important role in CSR related decision making process (Hossain et al 2016).…”

Section: Introductionmentioning

confidence: 99%

Corporate social reporting (CSR) and stakeholder accountability in Bangladesh

Hossain

¹

,

Alam

²

2016

IJAIM

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Findings-the empirical evidence shows that there is a need for a stand-alone mandatory CSR to achieve stakeholder accountability. It also shows that there are demands from 'stakeholders to right to know' about the company's social and environmental performance along with stakeholder engagements. There is a perceived demand for administrative reform along with institutional supports that can contribute to the CSR development in Bangladesh. These administrative reforms would encourage transparent corporate social and environmental practices. Given the socio-economic and vulnerable environmental conditions of Bangladesh, stakeholders in this study suggested contextually relevant CSR guidelines towards greater accountability.Research limitations/implications-This paper is one of the few engagements based studies which explore the perceptions of less economically powerful stakeholders towards CSR developments in an emerging economy, Bangladesh. The findings of this study using the theoretical lens of accountability with administrative and institutional reforms, leads us to conclude that companies in Bangladesh have low level of CSR towards stakeholder accountability and stakeholder engagements.Originality/value-The paper contributes to the CSR literature by highlighting the needs of CSR from the stakeholder's accountability perspective.

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“…Alternatively, the stakeholder approach suggests subjecting the maximisation of shareholder interests to the interests of other stakeholders such as creditors, management, employees, surrounding communities (Siddiqui, 2010).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Privatisation, stakeholder power, and weak institutions: the case of the Democratic Republic of Congo

Nkongolo-Bakenda

¹

,

Kazadi

²

,

Anderson

³

et al. 2016

WREMSD

1

0

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Privatisation is often suggested as means to improve efficiency of state-owned companies and to increase involvement of developing countries in globalisation. This paper examines the economic and social impact of the privatisation of large resource companies in the context of weak institutional environments. The key stakeholders involved in the process of privatisation are identified: national and international governments; private corporations; civil society; and local communities. The complexities of interplay and power relationships among them are described. The main outcome is improved production and increased government revenues. But the marginalisation of the local community during the process and the negative impact on the well-being of its members calls for changes in the process. Privatisation in response to globalisation did not improve stakeholder circumstances. Overall, this development model does not seem sustainable. Suggestions are made for its improvement for a long-term and shared prosperity.

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“…Yet, other studies suggest that in countries with weak regulatory systems, the stakeholder approach would lead to better results (Siddiqui, 2010;Rwegasira, 2000). Another group of scholars suggest the adoption of a hybrid model including shareholder and stakeholder with adjustment to local realties (e.g., Andreasson, 2011).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

“…The current study analyses the process of privatisation using the stakeholder perspective with an emphasis on the relative power of actors including communities. This perspective brings more light on the assessment of the impact of this process given the weakness of the institutions (Rwegasira, 2000;Siddiqui, 2010). Jamali (2008) asserts this perspective allows the consideration of traditional actors as well as silent ones; its findings are more easily grasped by managers and practitioners, and the perspective delineates relevant stakeholder issues and associated measures of impacts.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Privatisation, stakeholder power, and weak institutions: the case of the Democratic Republic of Congo

Horan

¹

,

Bakenda

²

,

Kazadi

³

et al. 2016

WREMSD

0

View full text Add to dashboard Cite

Privatisation is often suggested as means to improve efficiency of state-owned companies and to increase involvement of developing countries in globalisation. This paper examines the economic and social impact of the privatisation of large resource companies in the context of weak institutional environments. The key stakeholders involved in the process of privatisation are identified: national and international governments; private corporations; civil society; and local communities. The complexities of interplay and power relationships among them are described. The main outcome is improved production and increased government revenues. But the marginalisation of the local community during the process and the negative impact on the well-being of its members calls for changes in the process. Privatisation in response to globalisation did not improve stakeholder circumstances. Overall, this development model does not seem sustainable. Suggestions are made for its improvement for a long-term and shared prosperity.

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Development of Corporate Governance Regulations: The Case of an Emerging Economy

Abstract: corporate governance, emerging economies, regulations, institutional theory,

Cited by 109 publications

References 36 publications

Corporate social reporting (CSR) and stakeholder accountability in Bangladesh

Corporate social reporting (CSR) and stakeholder accountability in Bangladesh

Privatisation, stakeholder power, and weak institutions: the case of the Democratic Republic of Congo

Privatisation, stakeholder power, and weak institutions: the case of the Democratic Republic of Congo

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