Bangladesh’s Learning from Corporate Governance in Japan
Shiblee Noman*
Sheikh Rashid Bin Islam**
* Shiblee Noman is a Lecturer at the Department of Japanese Studies, University of Dhaka. E-mail: shibleenoman.djs@du.ac.bd
** Sheikh Rashid Bin Islam is a Research Intern at the Institute of Informatics and Development (IID). E-mail: sheikhrashidbinislam@gmail.com
Abstract
This paper attempts to investigate the practice of corporate governance in Japan since it has largely contributed to the country’s financial management. That, in turn, led to the unprecedented economic boom of Japan. The practice and objective of corporate governance have got a different momentum in Japan despite its origin from the firm’s Anglo-American theories, particularly ‘Agency theory.’ The convergence and divergence in corporate governance due to innovation and customisation of practices fitting in with the national culture have made Japan’s practice different. The model Japan has evolved is now being attempted to be replicated by many developed economies. Issues like a stockexchange scam, business organisations functioning as pressure groups, and electronic robbery in the Central Bank of Bangladesh have shown us that as a growing economy in South Asia, Bangladesh requires a model to adapt and learn from the existing practices of corporate governance to ensure the acceleration of economic development. This paper is a qualitative review study based on the existing literature—journal articles, book chapters, newspaper articles, interviews of experts, and periodicals. The paper attempts to identify the practice of corporate governance in Japan and prescribe a possible model for Bangladesh to contribute to the economic growth of this developing economy.
Keywords Corporate Governance . Japan . Bangladesh . Learning . Economic Growth
https://doi.org/10.55156/jjsem.dec2106