Corporate Governance Practices in Bangladesh: The New Paradigm in Management Education

Abstract

Successful corporate governance depends to a great extent of trade-off among the various conflicting interest groups like Government, Society, Inventors, Creditors, and Employees of the organization. The basic governance issues related to the effectiveness and accountability of board of directors. The present paper highlights the information collected through a survey of the 180 sample respondents based on random sampling. This paper shed light on the question of transparency and accountability of corporate governance. It identifies the major challenges in this process. The data reveal that the Bangladeshi corporate management suffers from transparency, independence in decision-making and accountability. It has been identified that among the various reasons of this scenario, the important ones are absence of professionalism in management, paternal style of leadership, lack of skilled human resources, absence of dynamism in management culture and the likes. The paper concludes with some strategies, which are considered essential for the exercise of good governance in the company management of Bangladesh such as accountability to shareholders, transparency of disclosures, quality of directors, independence of decision-making etc.