The Role of CEO, Board Composition and Firm Performance: An Empirical Study of Listed Companies in Bangladesh
Keywords:
Role of CEO, Corporate Governance, Firm Performance, DSEAbstract
This study investigates the role of CEO, board independent director as well as separate elements of corporate governance on firm performance for the listed non-financial companies in Dhaka Stock Exchange (DSE) 2008.Specific objective of this research is to examine the relationship between separation of CEO and the proportion of independent directors on firm performance as measured by return on assets (ROA) and return on equity (ROE). This paper is based on a sample of 93 listed companies and Used OLS as a method of estimation. The results suggest a positive association between ROA and separation of chief executive officer and between board independent director and ROA. The results further reveal a positive association between ROE and chief executive officer as well as board independent director. However, ownership structure is negative association with the firm performance measures (ROA and ROE) but not significant.
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