Unveiling the linkage between corporate governance and firm performance: empirical insights from the insurance sector in Bangladesh
Mohammad Moniruzzaman ORCID ↗ · Niluthpaul Sarker ORCID ↗ · Md. Jamil Sharif ORCID ↗
International Journal of Research in Business and Social Science · 2025 · Vol. 14 / Issue 4 · 61-69
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Abstract
This study investigates the relationship between corporate governance and firm performance in the Bangladeshi insurance sector, focusing on variables like board independence, female directors, audit committee size, leverage, and firm age. Using a sample of 42 insurance firms from 2017 to 2021, regression analysis is employed to assess these relationships. The findings show that board independence positively impacts performance, while audit committee size, leverage, and firm age have negative effects. Female directors exhibit a marginal but weak positive influence. This research contributes to the literature by providing empirical evidence from a developing economy, where limited studies exist. It also offers insights into governance practices in emerging markets. The implications suggest that policymakers and corporate leaders in Bangladesh should prioritize enhancing board independence, managing leverage, and promoting gender diversity to improve performance. Future research could explore causal relationships and extend the analysis to other sectors or emerging markets, considering cultural and regulatory factors.
Keywords: {'name': 'Corporate Governance'}, {'name': 'Firm Performance'}, {'name': 'Insurance Industry'}, {'name': 'Risk Management'}, {'name': 'Bangladesh'}
Authors & affiliations
Mohammad Moniruzzaman
Affiliation not supplied
Niluthpaul Sarker
Affiliation not supplied
Md. Jamil Sharif
Affiliation not supplied
Deposited references
Supplied references, not a list of publications citing this article.
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