Volume 2
Investigation on Compliance in Ready-made Garment Factories in Bangladesh
Md. Ashadullah and Hisaya OdaGraduate School of Policy Science, Ritsumeikan University, Japan
Email: ps0424ki@ed.ritsumei.ac.jp
Download pdf
Abstract
Purpose: The objective of the study is to examine the compliance situation of Bangladesh's ready-made garment (RMG) factories. Methodology: For the analysis, survey data was collected from 88-export oriented RMG factories in Dhaka, the capital city of Bangladesh, and surrounding districts, including Gazipur and Narayanganj. Two workers from each factory were interviewed to explore the factory’s compliance status. The interviews took place from August to September 2019. The survey questionnaire used the main questions from the compliance assessment tool developed by the International Labor Organization, which contains various issues in compliance with international standards and national legislation. Findings: The study found that Bangladesh's RMG factories' compliance situation, especially the working environment, is improving. However, a highest level of non-compliance has been found in some areas such as trade union issues, payment of overtime, voluntary overtime issues, regular working time, leave facilities, and so on. Hence, significant improvement in these compliance issues is necessary. Limitations: This study has focused on the compliance issues of RMG factories from the workers' perspective. Hence, there is a scope for further study to measure the compliance situation of the RMG factories from the viewpoint of stakeholders. Practical Implication: This study discloses significant aspects of the compliance status of Bangladeshi RMG factories. The findings will provide inputs for policy design aimed at improving the factories’ compliance situation with the international standards. Originality: This study is particularly focused on compliance issues by using ILO formulated assessment tools and one of the studies in the area of Bangladesh RMG factories.
Can Green Management Practices Ensure Environmental Sustainability? A Firm-Level Study on Readymade Garments Sector of Bangladesh
Dr. Md. Miraj Hossen, Rashedul Islam and Anindita Saha TumpaJagannath University; City University; BGMEA University of Fashion and Technology, Dhaka, Bangladesh
Email: miraj.hossen@yahoo.com
Download pdf
Abstract
Purpose: The present study is an initiative to establish a relationship between green management practices and environmental sustainability in the ready-made garments (RMG) industries of Bangladesh. Methodology: The data were collected over 404 respondents covering 20 industries using a well-structured questionnaire. To analyze the data and test the formulated hypotheses statistical software SPSS was used. The study was based on a conceptual framework where green management practices, employees' sustainable behavior, and environmental sustainability were considered as independent, mediating, and dependent variables accordingly. Findings: The study findings reveal that there is a significant positive impact of developing green abilities (DGA), and providing green opportunities (PGO) on employees' intention to green and sustainable behavior. In addition, the employees' green behavior towards sustainability (EBTS) has a significant effect on environmental sustainability (ES). However, motivating green employees (MGE), and maintain green behavior (MGB) has no significant impact on employees' sustainable behavior. Limitations: The study is based on cross-sectional data collected from the primary source and covering 404 samples. It would be better if the researchers can cover vast areas with more samples and secondary data also. Practical Implication: The study is considered as a wake-up call for the related parties, decision-makers (managers and owners), government regulatory bodies, of garments manufacturing industries in Bangladesh. The findings of the study can play a significant role in taking decisions regarding any more investment decisions in green management practices in different sectors. Originality: The study is an original one and it has considered some specific areas of green management practices which make it different from other previous studies
Determinants of Garment Owners’ Perception in Selection of Banks: Evidence from Bangladesh
Dr. Md. Redwanuzzaman, Md. Kamal Hossain and Masud RanaDepartment of Business Administration, Pabna University of Science and Technology
Email: redwanu_375@yahoo.com
Download pdf
Abstract
Purpose: This study aims to provide bank management in the banking industry with a useful insight into the bank selection determinants of a profitable major segment of garment owners. It is motivated by the need to address the limitations of the studies in this field. Methodology: Exploratory factor analysis has been employed to examine a sample of 176 garment owners as respondents in the capital of Dhaka and its outskirts of the citychosen from selected commercial banks using a convenience sampling method. The respondents are reached by employing prior appointments withthe designed questionnaire at the various bank’s premises, garment owner’s offices, and their homes. Respondent's feedback is analyzed and presented through the Factor analysis, Multiple Regression Analysis, and ANOVA One-way Test. Findings: The research finding showed that “Promises and guarantees made by the bank” “Price offering (incl. terms and conditions)”, and “Range of services and their features” are very important three factors for the garment owners in Bangladesh. Limitations: The study focuses only on some commercial banks ignoring all other types of banks operating in Bangladesh. Practical Implications: The study has made recommendations to understand the banking behavior in identifying the appropriate marketing strategies needed to attract new customers and retain the existing profitable major segment of garment owners. Originality: The findings of the study clearly showed and explained the concern of how garment owners, a profitable major segment for banks, choose their banks other than the customer as a whole.
Government Expenditure and Economic Growth in Bangladesh: An Econometric Analysis
Soma Bhattacharjee and Kazi Md. Nasir UddinJagannath University, Dhaka, Bangladesh
Email: soma450@yahoo.com
Download pdf
Abstract
Purpose: This paper aims to identify the impact of different components of government expenditure on the economic growth of Bangladesh to recommend an emphasis on that expenditure that can enhance the economic growth of Bangladesh. Methodology: The methodology of the study is based on econometric analysis including the Augmented Dickey-Fuller (ADF) test, lag length criteria, co-integration test, VAR model estimation, pairwise Granger causality test, impulse response function, and variance decomposition analysis using data from Bangladesh Economic Review from 1994-1995 to 2016-17. Findings: The study finds a unidirectional causality from economic growth to non-development expenditure and a bi-directional causality between economic growth and other expenditure. The results from the VAR model with lagged variables of economic growth only show the positive and significant effect, another expenditure has a negative significant impact but development and non-development expenditure show the positive insignificant impact of government spending on economic growth. Moreover, the impulse response function and the variance decomposition model also support the result that development expenditure has a positive influence on the economic growth of Bangladesh. Limitations: Lack of previous research studies on the topic and limited access to data are major research limitations. Practical Implications: The result of the study will be a useful source of information for the Bangladesh government for evolving strategies to rigorously monitor the implementation of her budgets to enhance growth in the economy. Originality: This paper uses the VAR analysis to investigate the impact of government expenditure on economic growth in Bangladesh for the first time. This study further deepens the previous research and draws a more realistic conclusion.
Compliance of GRI G4 and Pattern of Sustainability Disclosure in the Corporate Sector of Bangladesh
Dr. Shakhawat Hossain SarkarJatiya Kabi Kazi Nazrul Islam University, Trishal, Mymensingh, Bangladesh
Email: sarkar_knu@jkkniu.edu.bd
Download pdf
Abstract
Purpose: The research is an attempt to find out the pattern and the level of sustainability disclosure as well as identify the relationship of sustainability disclosure with corporate characteristics. Methodology: The study used secondary sources of data collected through content analysis of the annual report of the listed companies in DSE based on GRI G4 guidelines. The sustainability disclosure index (SDI) is used as a measure of the level of disclosure. Data for the study analyzed using both descriptive and inferential statistics such as frequency, mean, standard deviation, percentile, and ANOVA. Findings: Statistical result implies that the mean SDI is poor (mean 12.19 and SD 9.61) compared to developed and developing countries where economic disclosure is five times higher than environmental and four times higher than social disclosure. Only about one-sixth of the companies prepared separate sustainability reports, and most of the companies disclose sustainability information in more than one place of the annual report. Sustainability disclosure is significantly related to category, nature, industry membership, ISO certification, multi-nationality, age, size, profitability, and leverage of the company. Limitations: The research used only quantity ignoring the quality of sustainability information from the one-year annual report of the company based on GRI G4 guidelines. Practical Implications: The research adds value to the existing knowledge of sustainability disclosure and provides a message to the policymakers. Originality: This is one of the pioneer studies that examined the level and pattern of sustainability disclosure in Bangladesh as well as showed the relationship between sustainability disclosure and company characteristics, considered as an evolving economy
Mediating Effect of Employee Engagement in the Relationship between Employee Job Satisfaction and Affective Organizational Commitment: Evidence from Hotel Industry in Bangladesh
Muhaiminul Islam and Saiful IslamComilla University; University of Dhaka
Email: islammuhaiminul19@gmail.com
Download pdf
Abstract
Purpose: The purpose of this study is to examine the mediating effects of employee engagement in the relationship between job satisfaction and affective organizational engagement. The hotel industry of Bangladesh is selected as the context to investigate the relationship. Methodology: Using G-Power software, a sample size of 107 respondents have been chosen, who had already passed two years of their tenure in the three-stars and above hotels in Dhaka, Chattogram, Sylhet, and Cox's Bazar regions of Bangladesh. Data are collected through a survey questionnaire using the convenience sampling technique. In the analysis, the partial least square-structural equation modelling (PLS-SEM) is used preceded by the test of reliability and validity of each indicator. In this regard, SPSS 23 and SmartPLS-3 applications have been used. Findings: The findings show that job satisfaction increases the affective organizational commitment of the employees. Besides, job satisfaction boosts employee engagement, and engagement further accelerates employees' affective commitment. Hence, employee engagement performs the mediating role between job satisfaction and affective organizational commitment. Limitations: The findings of the study cannot be generalized across the country in a larger context due to the small sample size and specific to one single industry, which could be addressed in future studies. Practical Implications: This study provides useful implications for hotel managers to boost the employees' affective commitment by accelerating job satisfaction and engagement in the organization. Originality: This study also contributes to the body of knowledge by revealing employee engagement as a mediator in the relationship between employee satisfaction and commitment
Technology-intensive Trade and Gender Inequality-Emerging Country Perspective
Dr. Farha FatemaUniversity of Dhaka, Bangladesh
Email: farha.ib@du.ac.bd
Download pdf
Abstract
Purpose: This study examines how technology intensity in international tradeaffects gender inequality in labor force participation and wage in emergingeconomies.Methodology: The study decomposes the export and import into four sectors asHigh tech (HT), Medium tech (MT), low tech (LT), and primary products (PP)based on technology intensity. It then examines the long-run and short-runrelationship using panel ARDL method and direction of casualty between the tradeof these sectors and gender inequality in labor market using vector error correctionmodel (VECM) based Granger causality test.Findings: The analysis results suggest that export and import in any sectorsclassified based on technology intensity such as high tech, low tech, medium-tech,and PP reduces gender inequality in labor force participation and wage. The resultsalso suggest significant long-run bidirectional causality between TC and FLFPRand LFP inequality except for very few cases. On the other hand, trade-in any sectorcauses gender wage inequality in the short-run only, whereas, in the long run,gender wage inequality results in trade in different sectors.Limitations: The study has some limitations. Firstly, the unavailability of tradedata for several emerging countries makes the analysis a little bit weak. Secondly,the female labor force participation data is not also totally structured. Thirdly, thereis a considerable lack of structured and consistent gender wage gap data that makesthe analysis questionable. Finally, the availability of consistent data in all aspectswill make the study more reliable and robust.Practical Implication: This study will open a new window in the trade-genderinequality research field and help formulate policies in this field to use trade as aninstrument to reduce gender inequality.Originality: This study analyses trade and gender inequality in labor forceparticipation linkage from a different perspective. The study identifies the effects oftrade classified based on technology intensity on female labor force participationand wage, which is a unique approach in this research field of trade-gender nexu
Factors Affecting Bangladeshi Customers’ Intention to Adopt Social Shopping: A Partial Least Square (PLS) Approach
Pinki Maria Sarker and Dr. Abul KhayerUniversity of Dhaka, Bangladesh
Email: akhayer@du.ac.bd
Download pdf
Abstract
Purpose: This paper aims to examine key factors affecting consumers’ intention toaccept social shopping in the context of Bangladesh.Methodology: Structured Equation Modeling (SEM) was applied to verify allconstructs' reliability and validity and test all hypotheses. An importanceperformance map analysis was also carried out for identifying the critical factors ofthe constructs having high importance but low performance. Data were collectedfrom 250 respondents through conducting an online survey.Findings: The results showed that perceived usefulness, e-WOM, website quality,perceived enjoyment, and trust have positive effects on social shopping acceptance.In contrast, perceived risk has a negative impact on social shopping purchaseintention. Moreover, IPMA results showed that managers should concentrate moreon perceived enjoyment, perceived website design, and innovativeness.Limitations: The study has only considered internet users for the survey; therefore,there is a possibility of biasness of self-selection in sampling. Also, the size of thesample is small in this study. The accurate perception of Bangladeshi consumerstoward social shopping requires analysis on a larger sample size.Practical Implications: The study provides a basis for researchers for furtherstudies on variables that influence social shopping- behavior. Practitioners caneasily understand the key factors essential to create design and implement thosedesigns related to various products and services to capture market demand.Originality: The study has developed a research model by integrating differentprominent theories, i.e., theory of reasoned action and theory of planned behavior,and technology acceptance model. Also, this study considers several contextualconstructs such as perceived risks, e-WOM, and innovativeness to examineconsumers’ behavioral intention. The proposed model helps to understand thedynamics of online markets and how the user will respond to social shopping
The Effect of Children and Work-family Conflict on the Career Advancement of Women Academics: A Study on Private Universities of Bangladesh
Md. Johirul Islam and Md. Atiqur RahmanBangladesh University of Business and Technology (BUBT), Dhaka, Bangladesh
Email: aqr11013@gmail.com
Download pdf
Abstract
Purpose: This study aims at investigating how the children and the work-family conflict affects the career progression of female faculties at private university in Bangladesh. Methodology: Using convenience sampling technique, 201 female faculties of 15 private universities in Dhaka city of Bangladesh have been surveyed. Structural equation modeling technique has been used to analyze the hypothesis of the study. Findings: This study has found that the children have significant effect on the career stagnancy of female academics in teaching at private universities, whereas work-family conflict has not found to be significantly influential on the career stagnancy of the respondents. Limitations: Our sample consisted of 201 female faculties serving in 15 private universities located at Dhaka in Bangladesh may limit the generalizability of the results. The female faculty members of the private universities located outside Dhaka did not participate in this study. Practical Implication: In Bangladesh, a little research work has been done on addressing the pitfalls for which private universities’ female faculties cannot progress in their career. This research will contribute to existing literature in describing two major challenges of women academics’ career progression, i.e., children and work-family conflict. In future, researchers may additionally use other challenges that relate with career advancement of women academics. Originality: This paper will help the stakeholders realize the fact that women are facing difficulties in their career progression due to children, i.e., childrearing mandate. It will also assist to identify pragmatic interventions to minimize the consequences derived from childrearing on female academics’ career advancement
Social Mobility and the Epistemological Hybridity of Madrasah Students in Bangladesh
Abul Kalam Azad and Dr. A. I. Mahbub Uddin AhmedBangladesh University of Professionals (BUP); University of Dhaka, Bangladesh
Email: kalamazad@bup.edu.bd
Download pdf
Abstract
Purpose: This study aims to examine the effects of social mobility on the epistemological hybridity (eHYBRIDITY) of madrasah students in Bangladesh. Methodology: Based on Cohen's Table (1992), a sample size of 87 was determined: 29 from Qawmii and 58 from Aliya madrasah (29 passed Kamil before 1990, and 29 were present Alim students). To collect data, the study employed a survey method based on 5 point-Likert scales. To analyze data, the study used SmartPLS software (Windows Version-3). Findings: The Qawmii model holds that education should be controlled only by religion i.e., Quran, Hadith, Ijma, and Qias (eHYB1) which has a significant association with the achievement of Islamic knowledge (VIS1), disseminating Islamic knowledge (VIS2), and leading Islamic life (VIS3) as well as religious occupation i.e., Imamati/Milad/Waj-nasihat (REL1). The Kamil model holds that education should be focused on religion, but the knowledge of science is not problematic (eHYB2) which has a significant association with VIS1, VIS2, and VIS3 as well as religious occupations i.e., nikah registrar (REL2), teaching religious subjects in madrasah/maktab (REL3) and teaching religious subjects in school/college/university (REL4). Finally, the Alim model holds that education should be integrated having both religious and secular features (eHYB3) which has a significant association with income interest (VIS4), status interest (VIS5), and power interest (VIS6) as well as general occupations i.e., Medicare (GEN5), engineering (GEN6), teaching in university/college (GEN7), BCS cadre (GEN8), jobs in the Organisations of United Nations (GEN9) and Multi-national Companies (GEN10). The study also finds enough predictive power and relevance to explain the eHYBRIDITY of madrasah students in Bangladesh (R2 = 0.710, 0.673, and 0.638 in the respective models). Limitations: The study sample size is drawn using the non-probability technique due to the lack of a database of the target population. Practical Implication: The study will help understand the root causes of the epistemological hybridity (eHYBRIDITY) of madrasah students in Bangladesh and develop the dynamic policies of madrasah education. Originality: This is the first study of the eHYBRIDTY of madrasah students in Bangladesh in the pitch of social mobility
Relationship and Causality between Technology-intensive Trade and Poverty –A Panel ARDL and Granger Causality based Analysis
Mohammad Monirul IslamUniversity of Dhaka, Bangladesh
Email: mmislam@du.ac.bd
Download pdf
Abstract
Purpose: The purpose of this study is to identify whether trade in different sectors classified based on technology intensity has differential effects on poverty in emerging economies. The study classified trade into high technology (HT), medium technology (MT), low technology (LT), and periphery products using classified trade data collected from the UNcomtrade database. The study then examined whether the relationship and causality between trade in different sectors and poverty vary. Methodology: The study applies a panel ARDL model to identify the long-term and short-term between trade in different sectors and poverty as well as the VECM based Granger causality approach to find out the direction of causality between the variables. Findings: The results of the study support the view that the relationships and causality between technology-intensive trade compositions and poverty differ across measures of poverty and country groups. Trade-in any sector substantially raises the average income of the poorest quintile both in low growth and high growth developing countries but they have a differential effect on extreme poverty measured by poverty HCR in different countries. Limitations: The major limitation of the study is the unavailability of trade data. The trade data for emerging countries is not available for a long time and there are problems with missing data. Moreover, poverty and income data are not also available. Due to the unavailability of data, the study excludes some emerging countries from the analysis. Practical Implication: The results of the study would help to identify the effects of trade on alleviating poverty and formulate trade policies that would be pro-poor. The study also opens a new window for trade-poverty linkage research. Originality: This study is one of the unique approaches to look into the trade-poverty nexus from a different point of view. The results of the study evidence that trade in different sectors affects countries' poverty differently and thus urge research in this field in a broader scope.
Adoption of International Financial Reporting Standard (IFRS) and its Consequences on Financial Reporting Quality: A Review
ATM Adnan and Prof. Md. Muinuddin KhanBGMEA University of Fashion and Technology (BUFT), Dhaka, Bangladesh
Email: atmadnan@buft.edu.bd
Download pdf
Abstract
Purpose: The broad adoption of IFRS around the world, aided by the IAS Regulation in 2002, created a critical foundation for numerous academic studies that examined various viewpoints on voluntary or obligatory IFRS adoption. As a result, this study aims to provide a comprehensive image of the advantages and disadvantages of IFRS implementation, as well as the implications for financial reporting quality. We highlight two financial reporting performance indices, Earning Management (EM) and Value Relevance (VR), to determine the possible effect of IFRS implementation on the quality of financial reporting activities. Methodology: This paper examines the literature on the implications of mandatory or voluntary implementation of IFRS and the impact on accounting reporting quality that is expected to result from the transition. This paper takes a retrospective view, focusing on accounting research published in leading accounting journals and selective working papers, intending to understand the discussion on IFRS adoption and accounting quality in literature. Findings: Review findings suggest that IFRS adoption is expected to deliver benefits in improving the consistency of financial statements, including value relevance and earnings control. According to published literature, IFRS adoption would be more effective if it is backed by good legal protections, qualified experts, as well as appropriate supervision and compliance. Moreover, empirical evidence has shown that the advantages of IFRS are not universally recognized across countries. Overall, this study suggests that accounting consistency cannot be measured solely in terms of IFRS implementation, whether optional or obligatory. Limitations: This study is solely based on the qualitative review of the prominently published literature and also limits its focus on the two primary financial reporting quality metrics which could be extended. Moreover, macro-level determinants of IFRS's impact on reporting quality could be analyzed. Practical Implications: This study adds to the current literature by including a much-needed summary overview of the significance of IFRS adoption in accounting quality metrics in a global context, which will help researchers explore the IFRS framework further. Originality: This paper presented the measures used by studies to determine accounting reporting quality, summarizes the factors that contribute to accounting quality, and contributes to improving the quality assessment of financial reporting information
The Effect of Street Food Attributes on Improving Food Tourism in Mymensingh: The Mediation Role of Tourist Perception
Dr. Rafatul Haque Rishad, Dr. Valliappan Raju, Dr. Rezian-na Muhammed Kassim & Norhaniza ALCenter for Post Graduate Studies, Limkokwing University of Creative Technology, Malaysia
Email: rishadrafatul@gmail.com
Download pdf
Abstract
Purpose: Food Tourist Mymensingh signifies street food as a significant antecedent in drawing in regional (Bangladeshi) inter district visitors for their taking a trip objective to this local city. This research study intends to explore just how road side food stalls connects impact the improvement of food tourist in Mymensingh. Methodology: Using a sample of 351 tourists, a survey was conducted at Jainul Abadeen Park in Mymensingh division who were different divisions tourists consuming street food. Smart PLS 3.0 was applied to analyse the data following the quantitative method. Findings: The findings confirm that a positive and substantial relationship is found in between product quality with tourist satisfaction. Furthermore, a confident and also significant relationship is also found between hygiene & ambiance and tourist satisfaction. Then, a positive as long as major relationship remains between service quality and also tourist satisfaction. Besides, this study also claims that tourist perception mediates the relationship between product qualities with tourist satisfaction. But, this study claims that tourist perception doesn’t mediate the connexion between hygiene & ambiance along with service quality and tourist satisfaction. Limitations: This research study just concentrates at Shilpacharjyo Jainul Abedin Park, Mymensingh. The future research studies need to be a lot more details on various traveller areas in Mymensingh. Practical Implications: This research checked out the effect of product quality, hygiene & ambiance and service quality on tourist satisfaction in Mymensingh. Outcomes will certainly assist sector owners to create finest advertising and marketing plan to bring in even more customers. Originality: This research study specifically looks for the elements which draw in vacationer to eat road food at Mymensingh Park that made it special in comparable road food research studies.
Regional Connectivity through Banglabandha Port: Opportunities and Challenges for Bangladesh
Mohammad Mobarak Hossain and Md Saddam HossainUniversity of Dhaka, Bangladesh
Email: mobarak.ib@du.ac.bd
Download pdf
Abstract
Purpose: Bangladesh should focus on trade-related activities for its sustainableeconomic development rather than remittance earnings. All kinds of connectivityplay a significant role in establishing bilateral relations, improving trade, and creatingeconomic opportunities. This paper discusses the benefits of land connectivity amongBangladesh, India, Nepal, and Bhutan through the Banglabandha port.Methodology: The study sample size was 46, among which 15 were exporters, 15were importers, 15 were clearing and forwarding agents, and one from the portauthority. Separate questionnaires collected primary data, and researchers interviewedthe respondents to get the actual scenario of the Banglabandha port. Secondarysources are used to understand the opportunities and challenges that lie in borderconnectivity with its vicinity regions.Findings: Banglabandha port is one of the strategic ports of Bangladesh, whichconnects India, Nepal, and Bhutan in a very short distance. Since the emergence ofthe port in 2014, trade has been increased among the countries through theBanglabandha port. All neighboring countries can gain from the development of theintra-network by using the port, and it will contribute to the improvement of the livingstandard for all. Bangladesh can benefit from transit facilities and increased businessscope.Limitations: This paper includes a small number of respondents which should not bethe case. However, somebody can extend future research with respondents from eachcountry (India, Nepal, and Bhutan).Practical Implications: This paper might help the countries' authority to understandthe value of the Banglabandha port for all.Originality: There are available research publications on overall connectivity amongBangladesh's neighboring countries but not on Banglabandha Port. This paper mightmotivate governments to investigate the opportunities that Banglabandha has to offer
Macroeconomic Factors and Their Influences on Initial Public Offering (IPO) in Bangladesh
Md. Shariful Islam and Aadeeba Khan AhonaJahangirnagar University; University of Dhaka, Bangladesh
Email: sharifjumkt@juniv.edu
Download pdf
Abstract
Purpose: This paper examines the impact of macroeconomic factors such as GDP, inflation, interest rate, stock market index, and remittance on the number of IPOs (Initial Public Offering), total IPO proceeds and average IPO proceeds in Bangladesh 2007/08 to 2017/18. This study aims to find out the external factors affecting the decision of the firms to go public in the capital market of Bangladesh and to establish literature with proper analysis. Methodology: The nature of the research is quantitative and the research design is descriptive. However, the study is based on secondary data from multiple sources for analyzing the dependent and independent variables. The data were analyzed using quantitative research techniques such as descriptive, correlation, and multiple regression analysis. It was then presented a regression model as a data analysis technique, which would finally identify those variables that have a significant impact on IPOs issued. Findings: The hypothesis that the macroeconomic variables have explanatory power for the number of IPOs could not be highly supported by empirical evidence. On the other hand, empirically, macroeconomic factors can explain total IPO proceeds and average IPO proceeds. Inflation rate and remittance negatively correlate with the number of IPO, but that is not significant. Stock market index and interest have a significant positive relationship with the number of IPO issued in a year. All the independent factors have a positive relationship with the total IPO proceeds, but only the stock market index has a significant relationship with the total IPO proceeds. The stock market index has a significant positive impact on average IPO proceeds raised in a year. Also, the inflation rate, remittance, and interest rate positively correlate with the average IPO proceeds. Limitations: The stock market data are challenging to collect, and investors are reluctant to disclose macroeconomic variables. Another major limitation is found that was knowledge gaps between the parties. Practical Implications: The study findings can have a few important implications to different stakeholders of Bangladesh's capital market, including investors, private companies, market-makers, and market regulators like BSEC, Bangladesh bank, Ministry of Finance, and Government agencies. Specifically, the study findings can help them develop a critical understanding of the macroeconomic indicators and their significant impact on Bangladesh's primary market and overall capital market. Originality: In fact, multiple research activities have been conducted abroad regarding macroeconomic factors and their influences on the initial public offering, but not a single work similar to this research topic has been done in Bangladesh. Researchers want to investigate the factors that influence IPO and help the investors and decision-makers.
Impact of Capital Structure on Profitability of Cement Industry in Bangladesh
Dr. Md. Abdullah Al Mamun, Mohammad Hedayet Ullah and Masud RanaPabna University of Science and Technology; University of Rajshahi
Email: mamunfin38@gmail.com
Download pdf
Abstract
Purpose: This paper seeks to unearth the impact of capital structure on the profitability of listed cement companies at the Dhaka stock exchange in Bangladesh. Methodology: Data have been collected from secondary sources for the 10 years from 2009-10 to 2018-19 to accomplish the objectives. Data gathered tabulated, categorized, arranged, and concluded the necessary calculation for the production of panel data to fulfill the purpose. The capital structure ratios, profitability, and multiple linear regressions have been used to analyze data with the help of IBM SPSS-21. Capital structure ratios are short-term debt to total assets (STDTA), long-term debt to total assets (LTDTA), total debt to total assets (TDTA), long-term equity debt (LTDEQ), and total equity debt (TDEQ) and are considered to be the independent variables. The return on total assets (ROA), return on equity (ROE) are selected as the profitability and used as a dependent variable Findings: Results forced to conclude that short-term debt to total assets, long-term debt to total assets have a neagtive effect on the return on total assets. This implies that the company would reduce profits by accumulating more borrowed money. On the other hand, short-term debt to total assets, long-term debt to total assets have a positive influence and long-term equity debt have a negative impact on return on equity. Limitations: The study is conducted based on secondary data. So the validity and reliability cannot be judged. There are 32 cement companies of Bangladesh of which only seven are listed so the availability of data scope of the study was narrow. Practical Implications: This implies that the firm raises more borrowed capital will reduce profit. So the authorities should use debt judiciously. Originality: Research indicates that profitable companies are less dependent on debt as their key funding choice. In the case of Bangladesh, a high proportion of the debt is covered by short-term debt
Factors Affecting Inducement for Organic Farming in Bangladesh
Nuraiya Fariha and Saiful IslamUniversity of Dhaka, Bangladesh
Email: saifulib@du.ac.bd
Download pdf
Abstract
Purpose: While organic farming is quite pervading around the world, it received minimal momentum in Bangladesh. Therefore, this study aims to find the dominant factors and major constraints to pursue organic farming in Bangladesh. Methodology: Primary data are collected from forty producers, one processor, and two distributors from the Bogura district. Mostly descriptive statistics are used to achieve the objectives. Findings: Findings show that lower cost of productions, ethical farming practices, higher return, and premium prices are the primary inducement for organic farming over the traditional methods. However, losing arable land, lack of credit and technical aid, and different marketing constraints are the notable impediments to purse organic farming in Bangladesh. Building awareness, developing effective marketing channels, private-public partnerships in production, storage, and distribution could be a way to reduce these impediments and encourage more organic farming in Bangladesh. Limitations: This study considers only one particular district of Bangladesh among the few where organic farming is prominent. Few other production locations could be included in future studies. Practical Implications: This study provides practical implications for existing and potential producers, processors, and distributors of organic farming in Bangladesh. Originality: This study provides a bridge to the existing literature gap in organizing organic farming in Bangladesh, especially by identifying the factors inducing organic farming and major constraints to this process
An Assessment of Borrower Satisfaction of Micro Finance Services in Grameen Bank of Bangladesh
Fatima Saki, Md. Nahidul Islam and Md. Nazrul IslamJatiya Kabi Kazi Nazrul Islam University, Bangladesh
Email: nahid.drh@gmail.com
Download pdf
Abstract
Purpose: This study is aimed to determine the nature and dimensions of microfinance service and to have an understanding on borrower satisfaction level using various determinants of Grameen bank in Bangladesh. Methodology: This analysis of the study is based on primary data collected from 312 respondents who are the borrowers of Grameen bank. Five point likert scale questionnaire is used for quantification and chi-square test is used for the analysis. Findings: The results indicate that economic conditions of the borrowers, their income, and loan facilities of the bank, interest rates on the funds, insurance policy of the bank, transparent transactions, and bankers’ behavior with the borrowers have significant influence on borrower satisfaction. The study has also drawn some inferences such as reducing the interest rate, arranging training programs for their officials, giving individual borrower attention, improving customer service department etc. to foster better banking services for superior borrower satisfaction. Limitations: The research study has focused on six districts in Bangladesh. This could be extended to more areas. Time period for the study could also be extended. Practical Implications: The outcomes of the study would be helpful in formulating customer services policies and improving the quality of services to ensure much satisfaction to the borrowers for future growth. Originality: This study mainly focuses on the core customers in microfinance sector and as the prevailing level of satisfaction is very much important to sustain the market, this study has been done with direct intersection with the borrowers
Exploring Traditional Handloom Value Chain and Its Sustainability Constraints in Bangladesh: A Qualitative Study on Tangail Handloom Industries
Afia Tasnim Promee, Sumaya Khan Auntu, Adiba Sharmin and Avijit Chakrabarty AyonBangladesh University of Professionals (BUP), Dhaka, Bangladesh
Email: promee.tp@gmail.com
Download pdf
Abstract
Purpose: In this paper, we tried to explore the traditional handloom value chain andits constraints which are threatening the sustainability of this sector in Bangladesh.Methodology: The study followed phenomenological and grounded theoryapproaches of qualitative research. Data has been collected through in-directobservations, in-depth interviews, and focus group discussions. Thematic analysistechnique has been adopted to analyze data.Findings: The traditional handloom value chain operates through the activities ofraw materials suppliers, dyers, designers, weavers, local marketers, wholesalers,and retailers. Competition with power loom products, lack of financial assistance,long producing hours, high price, and changes in taste and normative patterns of theconsumers are identified as the major threats to the sustainability of this sector.Limitations: This study couldn’t include all the handloom industry areas andpersonals of the country. To get more depth insight, it has focused on qualitativemethods of investigation. But quantitative insight on the same problem could haveprovided a wider picture.Practical Implications: At present, approximately 316,315 peoples are directlyearning their livelihoods from this sector. The findings and recommendations of thisstudy will be helpful to understand and eradicate the current constraints of the valuechain of this sector.Originality: Series of quantitative studies has taken place on handloom industriesin South-Asian countries. But very little is known about the traditional handloomvalue chain and problems in the context of Bangladesh. This paper has addressed thegap by exploring the traditional handloom value chain and its constraints based onprimary qualitative dat
School Meals and Child Outcomes in Bangladesh
Md. Shahadat HossainAssistant Professor (Economics), BCS (General Education) Cadre, Bangladesh
Email: milueco2017@gmail.com
Download pdf
Abstract
Purpose: School meals are a good way to channel vital nourishment to poor children. The study has been tried to demonstrate the concepts of school meals in the globe and derived the eventual scenarios from Bangladesh. Methodology: To comprehend the basis of school meal and the derivation of its consequences in Bangladesh, a descriptive research approach is used here. And this work is mainly based on secondary information. Here, various journals, survey reports, newspapers, research articles etc. were used as a source of data. To demonstrate the results, the collected data were analyzed through a tabular form. Findings: This study shows that school meal us applying as an essential tool to remove children’s hunger for the short-term and improve their long-term nutritional status. This may also lead to improve their health promotion. In Bangladesh, school meals are a high-return investment in human capital and local economies with multiple benefits. Collaborative efforts are required to strengthen the school meal program and achieve intended outcomes in respectively short and long terms. Limitations: The study is based on secondary data only. A need exists, however, for further high-quality studies. Practical Implications: In the paper, empirical evidence suggests that the school meals program play a special role in fulfilling the nutritional requirements of school-going children and establishing children's right to education. In Bangladesh, school meals are treated as an incentive for parents to send their children to school. This may ultimately generate a positive impact on children’s attendance and nutrition. Originality: This study will contribute to reveal the pattern of global school meal. In Bangladesh, the initiative of school meals plays a vital role in reducing the country’s malnu