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dc.contributor.authorArslan, Muhammaden
dc.contributor.authorAbidin, Sazalien
dc.contributor.authorAlqatan, A.en
dc.contributor.authorRoudaki, Jamalen
dc.date.accessioned2020-01-19T21:55:48Z
dc.date.available2019-12-11en
dc.date.issued2019en
dc.identifier.issn1727-9232en
dc.identifier.urihttps://hdl.handle.net/10182/11312
dc.description.abstractCorporate governance (CG) is often split among rule and principle based methods to regulation in distinctive institutional contexts. Relying on an alternative theoretical framework (i.e. institutional theory), rather than the dominant agency theory, this study conceptualizes corporate governance practices and structures as institutionally resolute and directed and explores the key institutional determinants of good CG practices in an emerging economy. Drawing on qualitative and quantitative methods, this study conducted semistructured interviews from eight CG professionals, followed by a survey questionnaire (N=105) from PSX listed firms. The study explores the extent to which certain underlying formal and informal institutional determinants, such as the auditing, political, legal, board, shareholders awareness, voting, culture, and values play a determining role in corporate governance. Using exploratory factor analysis, this study identified five major barriers, i.e. firm-level barriers, external barriers, social barriers, education and training barriers and legal barriers which restrain good CG practices in Pakistan. In addition, this study identified four major drivers, i.e. internal drivers, regulatory drivers, motivational drivers and collaborative drivers which can promote good CG practices in Pakistan. The findings of multiple hierarchical regression analysis revealed that the CGI score has a significant positive relationship with both return on assets and return on equity. This study emphasizes the necessity to revisit the foundation of institutional and agency theories in the environment of developing countries.en
dc.format.extent211-235en
dc.languageenen
dc.language.isoenen
dc.publisherVirtus Interpressen
dc.relationThe original publication is available from - Virtus Interpress - https://doi.org/10.22495/cocv17i1siart5en
dc.relation.urihttps://doi.org/10.22495/cocv17i1siart5en
dc.rights© 2019 The Authorsen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectinstitutionalen
dc.subjectdeterminantsen
dc.subjectcorporate governanceen
dc.subjectformal and informalen
dc.subjectagency theoryen
dc.subjectbarriersen
dc.subjectdriversen
dc.subjectCG complianceen
dc.titleCorporate governance in extreme institutional environment: Evidence from emerging economyen
dc.typeJournal Article
lu.contributor.unitLincoln Universityen
lu.contributor.unitFaculty of Agribusiness and Commerceen
lu.contributor.unitDepartment of Financial and Business Systemsen
dc.identifier.doi10.22495/cocv17i1siart5en
dc.subject.anzsrc150303 Corporate Governance and Stakeholder Engagementen
dc.subject.anzsrc1501 Accounting, Auditing and Accountabilityen
dc.subject.anzsrc1502 Banking, Finance and Investmenten
dc.subject.anzsrc1503 Business and Managementen
dc.relation.isPartOfCorporate Ownership and Controlen
pubs.issue1en
pubs.notesAutumn 2019 (Special Issue) Date of acceptance: 10 Dec 2019en
pubs.organisational-group/LU
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce
pubs.organisational-group/LU/Faculty of Agribusiness and Commerce/FABS
pubs.organisational-group/LU/Research Management Office
pubs.organisational-group/LU/Research Management Office/QE18
pubs.publication-statusPublisheden
pubs.volume17en
dc.identifier.eissn1810-3057en
dc.rights.licenceAttributionen
lu.identifier.orcid0000-0002-2484-0819
lu.identifier.orcid0000-0002-2886-7349


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