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Unveiling the linkage between corporate governance and firm performance: empirical insights from the insurance sector in Bangladesh

Author

Listed:
  • Mohammad Moniruzzaman

    (Department of Accounting & Information Systems, University of Dhaka, Dhaka 1000)

  • Niluthpaul Sarker

    (Jagannath University)

  • Md. Jamil Sharif

    (Department of Accounting & Information Systems, University of Dhaka, Dhaka 1000)

Abstract

This study investigates the relationship between corporate governance and firm performance in the Bangladeshi insurance sector, focusing on variables like board independence, female directors, audit committee size, leverage, and firm age. Using a sample of 42 insurance firms from 2017 to 2021, regression analysis is employed to assess these relationships. The findings show that board independence positively impacts performance, while audit committee size, leverage, and firm age have negative effects. Female directors exhibit a marginal but weak positive influence. This research contributes to the literature by providing empirical evidence from a developing economy, where limited studies exist. It also offers insights into governance practices in emerging markets. The implications suggest that policymakers and corporate leaders in Bangladesh should prioritize enhancing board independence, managing leverage, and promoting gender diversity to improve performance. Future research could explore causal relationships and extend the analysis to other sectors or emerging markets, considering cultural and regulatory factors. Key Words:Corporate Governance, Firm Performance, Insurance Industry, Risk Management, Bangladesh

Suggested Citation

  • Mohammad Moniruzzaman & Niluthpaul Sarker & Md. Jamil Sharif, 2025. "Unveiling the linkage between corporate governance and firm performance: empirical insights from the insurance sector in Bangladesh," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 14(4), pages 61-69, June.
    • Handle: RePEc:rbs:ijbrss:v:14:y:2025:i:4:p:61-69
    DOI: 10.20525/ijrbs.v14i4.4076
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    References listed on IDEAS

    as
    1. Sarada Dakua, 2020. "Relevance of Capital Structure in Developing Countries: A Special Focus on India," Journal of Finance and Economics Research, Geist Science, Iqra University, Faculty of Business Administration, vol. 5(1), pages 46-58, March.
    2. Dr. Nisar Ahmed & Md. Joynal Abedin, 2019. "The Effects of Corporate Governance, Corporate Social Responsibility, and Intellectual Capital Disclosure on the Sustainability of Banking Sector in Bangladesh," Business and Economic Research, Macrothink Institute, vol. 9(4), pages 53-68, December.
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