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Rationality, traditionalism and the state of corporate governance mechanisms

Author

Listed:
  • Shahzad Uddin
  • Jamal Choudhury

Abstract

Purpose - The purpose of this paper is to provide an account of corporate governance practices in Bangladesh. This paper demonstrates that the traditionalist culture mediates the rationalist/legalist framework of corporate governance in Bangladesh. Design/methodology/approach - A series of semi‐structured interviews were conducted. Observations and the personal working experience of one of the researchers, along with documentation, provided rich sources of information for the paper. Findings - The findings show that families have a dominant presence in all aspects of corporate governance. Boards of directors in companies play a significant part in serving the interests of families rather than those of general shareholders. Research limitations/implications - This study focuses on corporate governance practices in a traditional setting and shows how traditional culture and values are in conflict with the rational ideas imported from a different setting. Originality/value - The paper adds to the literature on corporate governance, especially in the context of less‐developed countries. It will be of great value to researchers and practitioners seeking to gain a better understanding of corporate governance frameworks in various settings.

Suggested Citation

  • Shahzad Uddin & Jamal Choudhury, 2008. "Rationality, traditionalism and the state of corporate governance mechanisms," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 21(7), pages 1026-1051, September.
  • Handle: RePEc:eme:aaajpp:v:21:y:2008:i:7:p:1026-1051
    DOI: 10.1108/09513570810907465
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