A Comparative Analysis of Board Disclosures of Selected Pharmaceuticals Companies of Bangladesh and the UK

R. Rahman, Md. Anwarul Kabir
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Abstract

This research aims to compare the board disclosures in the annual reports of selected pharmaceutical companies in the UK and Bangladesh. The sample consists of 10 purposively selected pharmaceutical companies from both countries. A secondary qualitative research has been held on 10 board issues: board size, board composition, director’s qualification, board training, board independence, board meetings, independent directors, board committees, director’s remuneration and director’s report. The findings indicate that the Bangladesh Security Exchange Commission’s (BSEC) Corporate Governance Notification, 2012 has limited scope compared with the UK Corporate Governance Code, 2014. Selected UK companies are following the UK Corporate Governance Code, 2014 stringently and disclosing all necessary board disclosures in detail manner as per the requirement of the code, whereas none of the sampled Bangladeshi companies are publishing 100% mandatory board disclosures in detailed manner however they still attach a corporate governance compliance certificate in their annual report. The existing corporate governance notification should be improved which will accelerate the extent of mandatory disclosures. The multitude of voluntary disclosure is quite low in Bangladeshi companies compared with UK companies.
孟加拉和英国制药公司董事会信息披露的比较分析
本研究的目的是比较董事会披露的年度报告中选定的制药公司在英国和孟加拉国。样本由两国有意选择的10家制药公司组成。对董事会规模、董事会构成、董事资格、董事会培训、董事会独立性、董事会会议、独立董事、董事会委员会、董事薪酬、董事报告等10个董事会问题进行二次定性研究。研究结果表明,与2014年英国公司治理守则相比,孟加拉国证券交易委员会(BSEC) 2012年公司治理通知的范围有限。所选的英国公司严格遵守《2014年英国公司治理守则》,并按照守则的要求详细披露所有必要的董事会信息,而抽样的孟加拉国公司没有一家以100%的强制性方式详细披露董事会信息,但他们仍然在其年度报告中附上公司治理合规证书。完善现有的公司治理通报制度,加快强制披露的力度。与英国公司相比,孟加拉国公司自愿披露信息的程度相当低。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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