BICM Research Seminar-15 held

Own Representative: “BICM Research Seminar-15” was held at Multipurpose Hall of Bangladesh Institute of Capital Market (BICM). On Tuesday, Dr. presented the main article titled "Certification of Corporate Governance Compliance, Type of Certifiers and Market-based Performance: Evidence from a Unique Regulatory Setting" in the seminar. Abdus Sobhan, University of Northumbria, UK. Executive President of the Institute. Dr. Mahmuda Akhtar was present as the speaker of the seminar. Melita Mehzabin, Professor, Institute of Business Administration, University of Dhaka and Dr. Md. Mushfiqur Rahman, Associate Professor, Department of Accounting and Information Systems, University of Dhaka. In the original article presented in the seminar. Abdus Sobhan, University of Northumbria, UK analyzed various data sets and said, “We found a positive relationship between independent certification of corporate governance-CG compliance and market-based performance of companies. Similarly, we also found a positive association between chartered secretarial firm certification providers and company performance. A Certificate of Compliance with the BCGC by a professional firm generally increases the credibility of the annual report's compliance report. However, the benefit of this certificate of compliance will depend on the characteristics of the firm. And it is also certain that no single size fits all in corporate governance – CG reforms.” He further said, "Basically observing 1058 Bangladeshi companies from 2006 to 2009, we explored the relationship of compliance with CG Code with market-based performance of companies." The seminar was inaugurated by the Executive President of Bangladesh Institute of Capital Market. Mahmuda Akhter said, "Corporate governance is very important for the financial market of Bangladesh, especially the capital market." He also said, "Bangladesh Institute of Capital Market has been providing investment education since its inception. At the same time, we are conducting certificate programs, post graduate diploma and masters programs by identifying various knowledge gaps in the market. Emphasis is also placed on research along with necessary educational programs on capital markets.” Negotiator Dr. Melita Mehzabin, Professor, Institute of Business Administration, University of Dhaka and discussant Dr. Md. Mushfiqur Rahman, Associate Professor, Department of Accounting and Information Systems, University of Dhaka, in his discussion, shed light on several technical aspects of the study, including various metrics and hypotheses. The measure of good and bad governance is not clear in the article. Again, the positive portrayal of women on company boards deserves further discussion. Because, the participation of women on the board of most companies in the country is based on family reasons and not on the basis of merit. However, it is important to have a checklist of the Code of Corporate Governance. The seminar was attended by BICM faculty members, officials and other invited guests.