The Extent of Corporate Governance Compliance: An Empirical Study on listed companies in Bangladesh

Corporate governance has evolved and grown significantly in the last decade, there are different stakeholders of a business entity e.g. shareholders, board of directors, management, staffs and workers, and consumer groups. The ability of Bangladesh to take these advantages depend on how quickly and effectively it can resolve the socio-economic issues, strengthen its capital market, and establish ethical and overall governance standards. However, it is important to know the levels of compliance of Corporate Governance regarding the Principles and Guidelines in Bangladesh. This study evaluated the extent of corporate governance compliance Bangladesh to develop some policy recommendations to ensure governance guidelines guide the companies in the best possible way to ensure good governance in Bangladesh. The study has been conducted on listed financial Institutions and non-financial institutions three sectors to measure the levels of compliance of corporate governance. There are 263 companies which are enlisted in the Securities and Exchange Commission, Bangladesh. The study has been conducted on listed N=15 financial institutions out of 100, N=10 Non Financial Institutions out of 163 which were selected by convenient Sampling method. Descriptive statistics used to summarize a sample, rather than use the data to learn about the population that the sample of data is thought to represent. The data presented graphical form by using MS Excel, bar chart and pie chart has been used as graphical form to understand the extent of corporate governance compliance in the financial and non-financial companies. The study paper has both academic and policy implications, first of all it will enrich our knowledge about corporate governance, the extent of compliance status, practical situation of corporate governance in our country and the magnitude of disclosure of corporate governance by the companies of our country. The findings of this policy paper may contribute to Government, private sector, NGOs, academia and civil society.