Jahangirnagar University Journal of Business Research (JUJBR), 2023
The study scrutinizes the influence of the selected macroeconomic forces on the liquidity of Bang... more The study scrutinizes the influence of the selected macroeconomic forces on the liquidity of Bangladesh during the period 1986-2021. The ratio of excess reserve and total deposit liability is used to represent the liquidity of Bangladesh while total domestic credit, lending rate, consumer price index (CPI) and exchange rate are selected as the macroeconomic forces. As the data become stationary at both level and intercept, the ARDL bounds testing approach has been used to investigate the long-run linkage among the variables. Through the ARDL bounds test, it has been confirmed that there exists a long-run impact of consumer price index, domestic credit and exchange rate on liquidity. In both the long-run and short-run, domestic credit has a statistically significant impact on liquidity whereas lending rate have poor prediction of liquidity in both the long-run and short-run. From the result of the lag order selection criteria, the maximum lag of the series is one. From the stability test and diagnostic test, it has been found that the model seems stable in predicting the behaviour of the variables. The use of the ARDL approach in examining the short-run and long-run effects of selected macroeconomic variables makes the present study unique. There are limited studies on analysing the liquidity dynamics of Bangladesh using the ARDL approach.
Daffodil International University Journal of Business and Economics, 2015
The main objectives of this study are to investigate the relationship between corporate governanc... more The main objectives of this study are to investigate the relationship between corporate governance and firm performance of 60 Dhaka Stock Exchange (DSE) listed companies of Bangladesh using cross-section data of the year 2011. This study focused on eight aspects of corporate governance namely Board Size (BS), Number of Independent Directors, CEO duality, Lasset, Debt-equity ratio, Proportion of independent directors, and Broad meeting frequency. Firm performance has been measured through return on equity (ROE) and return on assets (ROA). The findings of the study suggest that corporate governance variables do influence firms' performance. Our empirical results indicate that elements of corporate governance such as the proportion of independent directors and number of institutional investors are positively related with ROA while the other variables are negatively related with ROA. On the other hand, debt-equity ratio, proportion of independent directors and number of institutional investors are significantly and positively correlated with ROE. In the light of corporate financial scandals, the study suggests that there is a need to ensure effective governance of the firms in one hand and contribute to maximize shareholders wealth on the other hand.
Jahangirnagar University Journal of Business Research (JUJBR), 2023
The study scrutinizes the influence of the selected macroeconomic forces on the liquidity of Bang... more The study scrutinizes the influence of the selected macroeconomic forces on the liquidity of Bangladesh during the period 1986-2021. The ratio of excess reserve and total deposit liability is used to represent the liquidity of Bangladesh while total domestic credit, lending rate, consumer price index (CPI) and exchange rate are selected as the macroeconomic forces. As the data become stationary at both level and intercept, the ARDL bounds testing approach has been used to investigate the long-run linkage among the variables. Through the ARDL bounds test, it has been confirmed that there exists a long-run impact of consumer price index, domestic credit and exchange rate on liquidity. In both the long-run and short-run, domestic credit has a statistically significant impact on liquidity whereas lending rate have poor prediction of liquidity in both the long-run and short-run. From the result of the lag order selection criteria, the maximum lag of the series is one. From the stability test and diagnostic test, it has been found that the model seems stable in predicting the behaviour of the variables. The use of the ARDL approach in examining the short-run and long-run effects of selected macroeconomic variables makes the present study unique. There are limited studies on analysing the liquidity dynamics of Bangladesh using the ARDL approach.
Daffodil International University Journal of Business and Economics, 2015
The main objectives of this study are to investigate the relationship between corporate governanc... more The main objectives of this study are to investigate the relationship between corporate governance and firm performance of 60 Dhaka Stock Exchange (DSE) listed companies of Bangladesh using cross-section data of the year 2011. This study focused on eight aspects of corporate governance namely Board Size (BS), Number of Independent Directors, CEO duality, Lasset, Debt-equity ratio, Proportion of independent directors, and Broad meeting frequency. Firm performance has been measured through return on equity (ROE) and return on assets (ROA). The findings of the study suggest that corporate governance variables do influence firms' performance. Our empirical results indicate that elements of corporate governance such as the proportion of independent directors and number of institutional investors are positively related with ROA while the other variables are negatively related with ROA. On the other hand, debt-equity ratio, proportion of independent directors and number of institutional investors are significantly and positively correlated with ROE. In the light of corporate financial scandals, the study suggests that there is a need to ensure effective governance of the firms in one hand and contribute to maximize shareholders wealth on the other hand.
Uploads
Papers by S.M.A. Moudud Ahmed