Journal of Financial Markets and Governance最新文献

Does political crisis impact the capital market returns in Bangladesh? 政治危机是否影响孟加拉国资本市场的回报？

Journal of Financial Markets and Governance Pub Date : 2023-12-17 DOI: 10.54728/jfmg.202310.00073

Gourav Roy, Mahmuda Akter, Shahriar Md. Lukman

{"title":"Does political crisis impact the capital market returns in Bangladesh?","authors":"Gourav Roy, Mahmuda Akter, Shahriar Md. Lukman","doi":"10.54728/jfmg.202310.00073","DOIUrl":"https://doi.org/10.54728/jfmg.202310.00073","url":null,"abstract":"This study aims at figuring out the key reasons responsible for inhibiting companies to go for IPO. For the purpose, 100 privately listed companies situated in Dhaka had been approached and 15 companies responded. To substantiate the views of the companies, interviews from academician, merchant bank authorities, capital market journalist forum, and regulators were taken. In total, 25 Key Informant Interviews (KIIs) were conducted for the study. A focus group discussion (FGD) was arranged consisting 30 representatives from different merchant banks. To present the findings of the study, a thematic analysis approach was chosen where initial codes from the interviews and FGD were transformed and six key themes: macro-environment deterrent, institutional limitations, firm specific barriers, capital market deterrents, corporate governance code 2018, and money market deterrents were identified as the main factors of IPO avoidance by eligible companies. The study revealed that lack of coordination among relevant policy makers, few clauses of corporate governance code 2018, costly and lengthy IPO issuance process, insignificant tax gap, bank’s lenience towards loan defaulters, loan rescheduling facility of banks, lack of knowledge regarding capital market products, and compliance related issues are considered the most crucial reasons for IPO avoidance.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"45 20","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139176438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The New Role of Monetary Policy in Promoting Developmental Central Banking: The Case of Financial Inclusion in Bangladesh 货币政策在促进发展型中央银行中的新作用：孟加拉国金融包容性案例

Journal of Financial Markets and Governance Pub Date : 2023-12-17 DOI: 10.54728/jfmg.202310.00075

Atiur Rahman

引用次数: 0

To List or Not to: Why Do Companies Deny Financing through Capital Market in Bangladesh? 上市还是不上市？为什么孟加拉国的公司拒绝通过资本市场融资？

Journal of Financial Markets and Governance Pub Date : 2023-12-17 DOI: 10.54728/jfmg.202308.00067

Faima Akter, Imran Mahmud, Md. Iqbal Hossain

{"title":"To List or Not to: Why Do Companies Deny Financing through Capital Market in Bangladesh?","authors":"Faima Akter, Imran Mahmud, Md. Iqbal Hossain","doi":"10.54728/jfmg.202308.00067","DOIUrl":"https://doi.org/10.54728/jfmg.202308.00067","url":null,"abstract":"This study aims at figuring out the key reasons responsible for inhibiting companies to go for IPO. For the purpose, 100 privately listed companies situated in Dhaka had been approached and 15 companies responded. To substantiate the views of the companies, interviews from academician, merchant bank authorities, capital market journalist forum, and regulators were taken. In total, 25 Key Informant Interviews (KIIs) were conducted for the study. A focus group discussion (FGD) was arranged consisting 30 representatives from different merchant banks. To present the findings of the study, a thematic analysis approach was chosen where initial codes from the interviews and FGD were transformed and six key themes: macro-environment deterrent, institutional limitations, firm specific barriers, capital market deterrents, corporate governance code 2018, and money market deterrents were identified as the main factors of IPO avoidance by eligible companies. The study revealed that lack of coordination among relevant policy makers, few clauses of corporate governance code 2018, costly and lengthy IPO issuance process, insignificant tax gap, bank’s lenience towards loan defaulters, loan rescheduling facility of banks, lack of knowledge regarding capital market products, and compliance related issues are considered the most crucial reasons for IPO avoidance.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"264 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139176525","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Macroeconomic Influence on the Balance of Payments of Bangladesh 宏观经济对孟加拉国国际收支的影响

Journal of Financial Markets and Governance Pub Date : 2023-12-17 DOI: 10.54728/jfmg.202310.00069

Nahid Farzana

引用次数: 0

CAMEL Ratios and Market Profitability: A study on Banking Sector in Bangladesh CAMEL比率与市场盈利能力:孟加拉银行业研究

Journal of Financial Markets and Governance Pub Date : 2023-06-30 DOI: 10.54728/jfmg-202209-00062

Imran Mahmud

引用次数: 0

Empirical study of the impact of liquidity risk on the financial performance: A study of selected commercial banks in Bangladesh 流动性风险对财务绩效影响的实证研究:对孟加拉国选定商业银行的研究

Journal of Financial Markets and Governance Pub Date : 2023-06-30 DOI: 10.54728/jfmg-202209-00059

Hossain Mohammad Yeasin

{"title":"Empirical study of the impact of liquidity risk on the financial performance: A study of selected commercial banks in Bangladesh","authors":"Hossain Mohammad Yeasin","doi":"10.54728/jfmg-202209-00059","DOIUrl":"https://doi.org/10.54728/jfmg-202209-00059","url":null,"abstract":"As liquidity risk is affecting the banking industry of Bangladesh, the study aims to analyze the impact of liquidity risk on financial performance of selected commercial banks in Bangladesh. The study applied a descriptive research design and targeted 20 commercial banks in Bangladesh, with secondary data collected over the span of five years from 2014 to 2018 and analyzed by employing the panel regression analysis model. Nine factors affecting financial performance of selected commercial banks in Bangladesh were selected and investigated. In the study, Return on Asset (ROA) and Return on Equity (ROE) are used as bank performance measurement tools and Non-Performing Loan ratio (NPLR), Capital Adequacy ratio (CAR), Capital to Total Asset ratio (CTAR), Loan to Deposit ratio (LTD), Loan to Total Asset ratio (LTA), Deposit to Asset ratio (DTA), Cash to Deposit ratio (CDR), Liquidity Coverage ratio (LCR), and Net Stable Funding ratio (NSFR) are used as liquidity risk indicators. The result of panel data regression analysis showed that NPLR, CAR, LTD, and DTA had negative and statistically significant impact whereas, LTA, CTAR, and LCR had positive and statistically significant impact on the financial performance of selected commercial banks in Bangladesh. However, CDR and NSFR had no statistically significant impact on financial performance of the chosen banks for the sample period. Therefore, it has been identified that the liquidity risk is negatively affecting the financial performance of the selected commercial banks in Bangladesh.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"26 11","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133621159","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

South Asian Savings-Investment Link: A Comparative Reappraisal 南亚储蓄-投资联系:比较再评价

Journal of Financial Markets and Governance Pub Date : 2023-06-30 DOI: 10.54728/jfmg-202209-00058

Rabiul Karim, M. Abedin, Kanon Kumar Sen

引用次数: 0

Herding Behavior in Stock Market of Bangladesh: A Case of Behavioural Finance 孟加拉股票市场的羊群行为:一个行为金融学的案例

Journal of Financial Markets and Governance Pub Date : 2023-06-30 DOI: 10.54728/jfmg-202209-00064

Faysal Ahmad Khan

引用次数: 0

The Impact of Companies’ Listing into Capital Market on National Tax Revenues: The Case of Bangladesh 公司在资本市场上市对国家税收的影响——以孟加拉国为例

Journal of Financial Markets and Governance Pub Date : 2023-06-30 DOI: 10.54728/jfmg-202209-00065

Gourav Roy, Md. Adnan Ahmed

{"title":"The Impact of Companies’ Listing into Capital Market on National Tax Revenues: The Case of Bangladesh","authors":"Gourav Roy, Md. Adnan Ahmed","doi":"10.54728/jfmg-202209-00065","DOIUrl":"https://doi.org/10.54728/jfmg-202209-00065","url":null,"abstract":"Capital market of Bangladesh is in a race of development; the growth of which has been significantly increasing since the last decade. The motivation of tax policy for bringing more participation of fund raisers into the capital market is relatively important to consider. Thus, the study on “The impact of companies' listing into capital market on national tax revenues: The case of Bangladesh” was founded on finding whether the curtailed tax liability percentage applicable to the listed companies relative to the unlisted companies is sufficient to face the tax revenue outputs from the listed companies relative to the unlisted companies. The study considered only the corporate tax of pre-IPO financial statements and post-IPO financial statements. The study has tried to discover the tax differences between the datasets in different paradigms. With data from feasible time frame, and application of feasible methodology, it has been found that, even if tax percentage is lower to listed companies than to unlisted companies, the average tax disbursed by the listed companies to government is much higher than the unlisted companies which indicates a very positive guideline to policymakers for motivating companies with curtailing tax percentage to another level and increasing number of listed companies and total tax revenues simultaneously.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"72 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122713762","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Sustainability Reporting Practices in Bangladesh: Insights from Upper Echelons Theory 孟加拉国的可持续发展报告实践:来自上层理论的见解

Journal of Financial Markets and Governance Pub Date : 2023-06-30 DOI: 10.54728/jfmg-202209-00063

Melita Mehjabeen

{"title":"Sustainability Reporting Practices in Bangladesh: Insights from Upper Echelons Theory","authors":"Melita Mehjabeen","doi":"10.54728/jfmg-202209-00063","DOIUrl":"https://doi.org/10.54728/jfmg-202209-00063","url":null,"abstract":"The objective of this paper is to explore and understand how the top management team (TMT)'s, namely the CEO/ MD/ Board of Directors (BOD) and Executive Committee Members, observable attributes and cognitive traits influence the strategic choices, such as adopting the Sustainability Reporting (SR) practices in the organization. This qualitative study conducts 12 semi-structured in-depth interviews with the Top Management Team, including CEOs of publicly listed companies from different industries in Bangladesh. Using the Upper Echelons theory, the author provides an alternative theoretical lens to the motivations of SR practices in Bangladesh. There has been a number of studies on the relationship between CEO attributes and strategic decisions in management literature, primarily in the developed country context. However, the influence of CEO and TMT traits on strategic choices like SR practices in emerging countries is scant. The overall analysis reveals that cognitive bases like values and beliefs, philosophies, and vision of the top management team (TMT), as well as the observable traits like education and background, career track, functional and financial expertise, international exposure or orientation, views, and understanding of the SDGs and their disclosure influence the strategic choice of organizations like the adoption of SR practices. Demographic traits largely shape the values, views, and attitudes of the top management (Hambrick & Mason, 1984), which help them develop or change their perceptions and eventually influence their strategic choice. This paper contributes to sustainability reporting literature by providing an insight into how the top management characteristics shape the SR practices in an emerging economy like Bangladesh.","PeriodicalId":165664,"journal":{"name":"Journal of Financial Markets and Governance","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124664435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0