Corporate Governance Practices in the Paint Industry of Bangladesh – A Case Study on Berger Paints Bangladesh Ltd.
by A H M Yeaseen Chowdhury, Fariha Hassan, Md. Mamun Habib
Corporate governance (CG) has attracted much attention among different stakeholders over past decades. Recent development in the corporate world has demanded the organizations to be more transparent and accountable. So it becomes imperative to have industry specific measurement for ‘good corporate governance’ that leads to social legitimacy. Bangladesh Security and Exchange Commission (BSEC) issued a draft Report on CG Guidance for listed companies. The main objective of this research is to find out the current scenario of the paint industry of Bangladesh and the level of practices of CG in the industry. The data were collected from both primary and secondary sources. The major findings of the study involved the impact of CG on financial performance of the industry. It also involves stakeholder’s perception towards the inclusion of female and a young director in the board composition. The findings suggest for disclosing product wise performance in reports for more accountability and fairness for making investment decision.