Factors influencing the financial and relational governance in Bangladesh's inland fishing industry: An empirical study

Abstract

Despite significant growth, the fisheries supply chain is complicated due to various types of stakeholders performing multiple tasks, which may have an impact on the governance structure. The aim of this study was to provide a comprehensive understanding of the factors affecting financial and relational governance in Bangladesh's inland fishing industry. A total of 779 stakeholders from 11 districts were chosen randomly and interviewed directly using a structured interview schedule covering 46 fish markets. In order to achieve the objectives, we used a PLS-SEM model in conjunction with a Perception Index. The Perception Index revealed that the status of local power and accountability in the fisheries supply chain was low. The overall state of financial governance was at an intermediate level, with relational governance in good shape. PLS-SEM found a negative and significant effect for collective power and local power on financial and relational governance, whereas institutional power, accountability, rule of law, and transparency had a positive impact. Since, the power dynamics, accountability, rule of law, and transparency has substantial implications on financial and relational governance; the study suggests planning and implementing the results to achieve long-term sustainability of inland capture and aquaculture industries in Bangladesh.