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Corporate Governance and Its Implication

Corporate Governance and Its Implication

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Published by: Mohammad Shamsuddoha on Sep 15, 2009
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05/20/2013

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Corporate Governance and its Implication in Bangladesh
Abstract:
 
 Bangladesh is one of the third world countries having many opportunities incorporate sector. Today, Business has to some dynamism with their productsotherwise consumer will not attract of their product. E-business, e-commerce,and e marketing have been promoted as the rescuer of the business world and acatalyst to twenty-first century performance in the global marketplace. Now wehave new word corporate Governance in the Bangladesh context. This paper  presents the meaning, scope, importance and the implementation of corporategovernance practices in Bangladesh. It also examines the internal mechanismslike the board of directors, their independence, the challenges faced byinstitutional investors, the role of internal and external communicationmechanisms, whistle blowers and the legal protection needed for them to ensurecorporate governance practices. Successful corporate governance dependslargely of trade-off among the various conflicting interest groups likeGovernment, Society, Inventors, Creditors, and Employees of the organization.The basic governance issues related to the effectiveness and accountability of board of directors. This paper further examines the external mechanismsthrough like corporate forums, media analysts, structural reforms and governance ratings to incorporate corporate governance codes intocorporations. In addition, the researchers try to recommend regardinggovernance that can help a lot for developing corporate sectors in Bangladesh.
Key Words:
Corporate Governance, Implication, Bangladesh
 
Objectives of the study
1.
 
To know what is all about corporate governance.2.
 
To recommend regarding implication of good governance in corporate sector inBangladesh
Scope & Methodology of the study
The proposed study will cover several public sectors organization like Railway, BTTB,Medical Hospitals and educational institutions specially Universities which may need thegood governance for its own development. The proposed study would be empirical one.Primary and secondary both kinds of data would be used in this study. The secondarydata would be collected from various books, reference Journal, seminar papers andarticles.
Rationale of the study
In the early part of the 21st century, the technologies emerging from the informationtechnology and biotechnology revolutions will present unprecedented governancechallenges to national and international political systems. These technologies are nowshifting and will continue to affect the organization of society and the ways in whichnorms emerge and governance structures operate. How policymakers respond to thechallenges these technologies, including the extent to which developments are supportedby public research funds and whether they are regulated, will be of increasing concernamong citizens and for governing bodies. New governance mechanisms, particularly onan international level, may be needed to address these emerging issues. In Bangladesh,some sort of problems is going on regarding responsibility and accountability of each
 
sector. That is why the researcher find some interest to do research on this topics and tryhard to unearth the answers that why corporate governance did not apply everywherespecially public sectors.
Introduction
Corporate governance has recently become a key debate and discussion item for therestructuring of state owned enterprises and the development of a modern enterprise orcorporate system. Governance serves as an essential foundation for better qualityPerformance. If organization structure or managerial accountabilities and rewards areinconsistent with value creation, effectiveness will decrease. Governance identifies rightsand responsibilities, legitimizes actions and determines accountability. It is concernedwith the source, use and limitation of power. Corporate governance is concerned with theprocess by which corporate entities are governed, that is, with the exercise of power overthe direction of the enterprise, the supervision of executive actions, the acceptance of aduty to be accountable and the regulation of the corporation within the jurisdiction of thestates in which it operates.
What is All about Corporate Governance?
According to the Oxford English Dictionary states governance to be ‘‘the act or mannerof governing, the office or function of governing, sway, control’’. In this definition it isnot to government and such but rather to management as ‘‘handle, administer, run,supervise, look after, watch over, direct, head, oversee, superintend, preside over, be incharge of . . .’’ This all seems to make sense to the lay user of such words. (KennethTombs, 2002). According to Tricker [1994], corporate governance is an umbrella termthat includes specific issues from interactions among senior management, shareholders,

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