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Papers by oli thakur

Research paper thumbnail of The Impact of Extrinsic Motivation and Work-Life Balance on Generation Y’s Contentment of Private Sectors in Bangladesh

Journal of Nusantara Studies (JONUS)

Background and Purpose: Generation Y employees often have frequent job dissatisfaction with the p... more Background and Purpose: Generation Y employees often have frequent job dissatisfaction with the private sector, causing job-hopping. The dissatisfaction has been identified as related to the problems in the workplace and family. Due to the fact that the problems have not been much highlighted; hence, this paper aims to investigate the impact of Work-Life Balance (WLB) on Generation Y's job satisfaction in Bangladesh's private sectors. Methodology: This descriptive case study adopted a quantitative method to reach the research objectives. In this quantitative study, Smart Partial Least Square (PLS) was used to empirically test the model and mediating effects of the extrinsic motivational factors between work-life balance and job satisfaction. Data was collected through survey questionnaires with 24 items adopted from the previous studies; six from work-life balance, six from job satisfaction, and twelve from extrinsic motivation. A total of 500 usable samples were collecte...

Research paper thumbnail of Inventory management systems of small and medium enterprises in Bangladesh

Rajagiri Management Journal

PurposeInventory is a crucial part of a systematic supply chain of a business. Small firms mostly... more PurposeInventory is a crucial part of a systematic supply chain of a business. Small firms mostly neglect inventory management (IM) by accumulating excessive inventory for a time. The study aims to examine the IM practices of small and medium enterprises (SMEs) in Bangladesh.Design/methodology/approachThe study applied a qualitative case study design. Data were collected from ten SME owners in Bangladesh. The study employed a purposive sampling technique to collect data. This study used semi-structured interviews to generate data. The NVivo software was used to analyze the data.FindingsThe findings show that most SME business owners collect raw materials from the local market. Along with the local sources, they collect raw materials from international markets. Some SME entrepreneurs collect raw materials throughout the country as they dealt with recycled products. Frequently, they used digital technologies and online media to manage raw materials. SME owners could not buy many raw m...

Research paper thumbnail of Impact of goodwill on firms capital structure in developed and developing countries: moderating effects of legal system

Macroeconomics and Finance in Emerging Market Economies

Research paper thumbnail of A Central Shariah Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation

The Journal of Asian Finance, Economics and Business, 2020

This study aims to find out the legalization status of a central Shariah regulatory authority for... more This study aims to find out the legalization status of a central Shariah regulatory authority for the Islamic banks in Bangladesh. In this regard, the central bank can legalize the existing Centralized Shariah Board for Islamic Banks of Bangladesh (CSBIB) or form a new Centralized Shariah Supervisory Board (CSBB) under the management of the central bank in Bangladesh. Based on the data obtained by the semi-structured interviews, this research finds diversified opinions regarding the legalization of CSBIB or the formation of a new CSBB. Initially, without the law, it would be difficult to form CSSB under the central bank as the Islamic banks and banking environment are still not ready. In addition, it is difficult to legalize the existing CSBIB because the format of its structure is different from the CSSB structure in Malaysia and Bahrain. The existing banking company act authorizes the central bank to provide circulars regarding banking issues and it will be considered as an act. The central bank can legalize the existing CSBIB or form a new CSSB through a circular which will be helpful to monitor the overall Shariah issues. The presence of a CSSB will fulfill the expectations of all Islamic banks, and the concerned stakeholders.

Research paper thumbnail of Independence and effectiveness of Shariah department officers to ensure Shariah compliance: evidence from Islamic banks in Bangladesh

Asian Journal of Accounting Research

PurposeThe study aims to examine the independence and effectiveness of the Shariah department off... more PurposeThe study aims to examine the independence and effectiveness of the Shariah department officers of the Islamic banks in Bangladesh as the Shariah supervisory board (SSB) provides the annual Shariah report and Shariah resolutions based on the reports of the Shariah department officers.Design/methodology/approachThe study applied a qualitative case study to achieve the research objectives. Data were collected through face-to-face interviews with the regulators, Shariah supervisory boards, Shariah department executives, and experts from the central bank and Islamic banks of Bangladesh.FindingsThe study illustrates that Shariah department officers/Shariah officers in Bangladesh seem to lack independence and decision-making authority in accomplishing ex-post Shariah governance functions (i.e. Shariah audit, Shariah compliance and Shariah review) as well as ensuring Shariah compliance. The Shariah officers cannot work spontaneously on practical issues without any interference. The ...

Research paper thumbnail of Impact of goodwill on firms’ capital structure in developing countries

Research paper thumbnail of The Reasons Behind the Absence of a Comprehensive Shariah Governance Framework of Islamic Banks in Bangladesh

International Journal of Economics and Business Administration, 2020

Purpose: The main objective of the study is to examine the reasons behind the absence of a compre... more Purpose: The main objective of the study is to examine the reasons behind the absence of a comprehensive Shariah Governance Framework (SGF) of Islamic banks in Bangladesh. Design/Methodology/Approach: The study has covered 17 respondents through semistructured interviews from the Islamic banks and the Central Bank of Bangladesh with a combination of Shariah supervisory board members, Shariah department executives, Central Bank executives, and banking experts. Findings: Based on findings, this study outlines that the knowledge gap of management, unqualified Shariah supervisory boards members, executives in Central Bank and Islamic banks, and intention of the regulators, policymakers, Shariah experts, government executives, Islamic bankers, Board of directors, stakeholders and civil societies are responsible for the absence of a comprehensive SGF. Practical Implications: The study has significantly contributed to the national regulators, government, and the Central Bank of Bangladesh on the subject for developing a comprehensive Shariah Governance Framework. Originality/Value: The study highlights the reasons for the absence of a comprehensive Shariah Governance Framework which was unexplored for more than 30 years.

Research paper thumbnail of A Central Shariah Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation

The Journal of Asian Finance, Economics and Business, 2020

This study aims to find out the legalization status of a central Shariah regulatory authority for... more This study aims to find out the legalization status of a central Shariah regulatory authority for the Islamic banks in Bangladesh. In this regard, the central bank can legalize the existing Centralized Shariah Board for Islamic Banks of Bangladesh (CSBIB) or form a new Centralized Shariah Supervisory Board (CSBB) under the management of the central bank in Bangladesh. Based on the data obtained by the semi-structured interviews, this research finds diversified opinions regarding the legalization of CSBIB or the formation of a new CSBB. Initially, without the law, it would be difficult to form CSSB under the central bank as the Islamic banks and banking environment are still not ready. In addition, it is difficult to legalize the existing CSBIB because the format of its structure is different from the CSSB structure in Malaysia and Bahrain. The existing banking company act authorizes the central bank to provide circulars regarding banking issues and it will be considered as an act. The central bank can legalize the existing CSBIB or form a new CSSB through a circular which will be helpful to monitor the overall Shariah issues. The presence of a CSSB will fulfill the expectations of all Islamic banks, and the concerned stakeholders.

Research paper thumbnail of Working Capital Management Practice and Its Impact on Profitability of Bangladeshi Companies

iv At first, I would like to express my utmost gratitude to almighty Allah for providing me the o... more iv At first, I would like to express my utmost gratitude to almighty Allah for providing me the opportunity to study at this level and also to conduct this research successfully. Then, I would like to acknowledge gratefulness and indebtedness to my research guide and supervisor, Dr. Md. Rafiqul Islam, Professor, Department of Banking and Insurance, University of Dhaka, for whom these few words of acknowledgement would be too little. He taught me the theories and applications of financial research. His intellectual supervision made me highly confident to articulate the desired outcome of the research. My earnest thanks are due to Professor Dr. Azizur Rahman Khan, former Chairman, Department of Banking and Insurance, University of Dhaka. With valuable suggestions and moral support, he helped me to improve the quality of my dissertation as well as to complete the research.

Research paper thumbnail of Impact of goodwill on capital structure and the moderating role of investors' education

Managerial and Decision Economics

Research paper thumbnail of Why Does Bangladesh Require a Centralized Shariah Governance Framework for Islamic Banks?

Journal of Nusantara Studies (JONUS)

The main objective of this article is to describe the logical reasons why a Centralized Shariah G... more The main objective of this article is to describe the logical reasons why a Centralized Shariah Governance Framework (CSGF) provided by the Central Bank of Bangladesh (Bangladesh Bank) is essential for the country’s Islamic banks. In doing so, it identifies the major regulatory challenges (self-developed and disparate use of Shariah Governance (SG) practices) faced by Islamic banks in Bangladesh. It considers an analytical approach to explore the significance of a CSGF for Islamic banks in Bangladesh and examines the current diversified procedures of SG practices. This article reveals that the self-developed SG practices of Islamic banks in Bangladesh have created confusion and pessimism among the practitioners, bankers and even to the general people and regulators which is negatively affecting the overall image of Islamic banks. Such incongruent governance practices have led to inconsistencies in SG structures, implementation procedures, monitoring activities. In addition, this art...

Research paper thumbnail of Working capital management practice and its impact on profitability of Bangladeshi companies

This thesis paper submitted to the University of Dhaka, Bangladesh for the degree of Master of Ph... more This thesis paper submitted to the University of Dhaka, Bangladesh for the degree of Master of Philosophy.

Research paper thumbnail of Working Capital Management Practices in an Emerging Economy: the case of Bangladesh

This study attempts to investigate the Working Capital Management (WCM) practices of manufacturin... more This study attempts to investigate the Working Capital Management (WCM) practices of manufacturing companies in an emerging economy namely Bangladesh. The study also explores the changes of WCM practices over the period and examines the variation of WCM practices among different manufacturing industries by considering 80 manufacturing companies listed in Dhaka Stock Exchange (DSE) in seven different categories for the period 2009-2013 i.e. 400 firm-year observations. The research applies univariate analysis to explore the WCM practices, Wilcoxon test to find the periodic changes of WCM, and Kruskal-Wallis test to analyze the variation of WCM practices among different industries. Results show that although WCM practices of manufacturing companies in Bangladesh changed over the period with an improving trend, the change is not statistically significant. However, the variation of WCM practices among different industries is significant. The most important contribution of this study is...

Research paper thumbnail of Shariah supervisory boards of Islamic banks in Bangladesh: expected duties and performed roles and functions

Purpose The main aim of this research is to ascertain the expected duties and performed roles and... more Purpose The main aim of this research is to ascertain the expected duties and performed roles and functions of the Shariah supervisory boards (SSBs) of Islamic banks in Bangladesh. Design/methodology/approach A semistructured face-to-face interview was applied to accomplish the research objectives. In total, data was collected from 17 respondents with a combination of regulators, SSBs, Shariah department executives and experts from the central bank and Islamic banks in Bangladesh. Findings This study finds that the expectations of Islamic banks toward SSB members are to provide opinions on Shariah issues, guidelines and decisions regarding the modern banking, practices and delivering of fatwas on the contemporary issues offered by the management to fulfill the demand of the numerous stakeholders. In addition, they can develop Shariah governance (SG) policies and implement those guidelines, approve and develop new products, observe and monitor banking functions, identify problems and...

Research paper thumbnail of A Central Shariah Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation

The Journal of Asian Finance, Economics and Business, Jan 31, 2020

This study aims to find out the legalization status of a central Shariah regulatory authority for... more This study aims to find out the legalization status of a central Shariah regulatory authority for the Islamic banks in Bangladesh. In this regard, the central bank can legalize the existing Centralized Shariah Board for Islamic Banks of Bangladesh (CSBIB) or form a new Centralized Shariah Supervisory Board (CSBB) under the management of the central bank in Bangladesh. Based on the data obtained by the semi-structured interviews, this research finds diversified opinions regarding the legalization of CSBIB or the formation of a new CSBB. Initially, without the law, it would be difficult to form CSSB under the central bank as the Islamic banks and banking environment are still not ready. In addition, it is difficult to legalize the existing CSBIB because the format of its structure is different from the CSSB structure in Malaysia and Bahrain. The existing banking company act authorizes the central bank to provide circulars regarding banking issues and it will be considered as an act. The central bank can legalize the existing CSBIB or form a new CSSB through a circular which will be helpful to monitor the overall Shariah issues. The presence of a CSSB will fulfill the expectations of all Islamic banks, and the concerned stakeholders.

Research paper thumbnail of Working Capital Financing Policy and Profitability: Empirical Study on Bangladeshi Listed Firms

British Journal of Economics, Management & Trade

Research paper thumbnail of The Impact of Extrinsic Motivation and Work-Life Balance on Generation Y’s Contentment of Private Sectors in Bangladesh

Journal of Nusantara Studies (JONUS)

Background and Purpose: Generation Y employees often have frequent job dissatisfaction with the p... more Background and Purpose: Generation Y employees often have frequent job dissatisfaction with the private sector, causing job-hopping. The dissatisfaction has been identified as related to the problems in the workplace and family. Due to the fact that the problems have not been much highlighted; hence, this paper aims to investigate the impact of Work-Life Balance (WLB) on Generation Y's job satisfaction in Bangladesh's private sectors. Methodology: This descriptive case study adopted a quantitative method to reach the research objectives. In this quantitative study, Smart Partial Least Square (PLS) was used to empirically test the model and mediating effects of the extrinsic motivational factors between work-life balance and job satisfaction. Data was collected through survey questionnaires with 24 items adopted from the previous studies; six from work-life balance, six from job satisfaction, and twelve from extrinsic motivation. A total of 500 usable samples were collecte...

Research paper thumbnail of Inventory management systems of small and medium enterprises in Bangladesh

Rajagiri Management Journal

PurposeInventory is a crucial part of a systematic supply chain of a business. Small firms mostly... more PurposeInventory is a crucial part of a systematic supply chain of a business. Small firms mostly neglect inventory management (IM) by accumulating excessive inventory for a time. The study aims to examine the IM practices of small and medium enterprises (SMEs) in Bangladesh.Design/methodology/approachThe study applied a qualitative case study design. Data were collected from ten SME owners in Bangladesh. The study employed a purposive sampling technique to collect data. This study used semi-structured interviews to generate data. The NVivo software was used to analyze the data.FindingsThe findings show that most SME business owners collect raw materials from the local market. Along with the local sources, they collect raw materials from international markets. Some SME entrepreneurs collect raw materials throughout the country as they dealt with recycled products. Frequently, they used digital technologies and online media to manage raw materials. SME owners could not buy many raw m...

Research paper thumbnail of Impact of goodwill on firms capital structure in developed and developing countries: moderating effects of legal system

Macroeconomics and Finance in Emerging Market Economies

Research paper thumbnail of A Central Shariah Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation

The Journal of Asian Finance, Economics and Business, 2020

This study aims to find out the legalization status of a central Shariah regulatory authority for... more This study aims to find out the legalization status of a central Shariah regulatory authority for the Islamic banks in Bangladesh. In this regard, the central bank can legalize the existing Centralized Shariah Board for Islamic Banks of Bangladesh (CSBIB) or form a new Centralized Shariah Supervisory Board (CSBB) under the management of the central bank in Bangladesh. Based on the data obtained by the semi-structured interviews, this research finds diversified opinions regarding the legalization of CSBIB or the formation of a new CSBB. Initially, without the law, it would be difficult to form CSSB under the central bank as the Islamic banks and banking environment are still not ready. In addition, it is difficult to legalize the existing CSBIB because the format of its structure is different from the CSSB structure in Malaysia and Bahrain. The existing banking company act authorizes the central bank to provide circulars regarding banking issues and it will be considered as an act. The central bank can legalize the existing CSBIB or form a new CSSB through a circular which will be helpful to monitor the overall Shariah issues. The presence of a CSSB will fulfill the expectations of all Islamic banks, and the concerned stakeholders.

Research paper thumbnail of Independence and effectiveness of Shariah department officers to ensure Shariah compliance: evidence from Islamic banks in Bangladesh

Asian Journal of Accounting Research

PurposeThe study aims to examine the independence and effectiveness of the Shariah department off... more PurposeThe study aims to examine the independence and effectiveness of the Shariah department officers of the Islamic banks in Bangladesh as the Shariah supervisory board (SSB) provides the annual Shariah report and Shariah resolutions based on the reports of the Shariah department officers.Design/methodology/approachThe study applied a qualitative case study to achieve the research objectives. Data were collected through face-to-face interviews with the regulators, Shariah supervisory boards, Shariah department executives, and experts from the central bank and Islamic banks of Bangladesh.FindingsThe study illustrates that Shariah department officers/Shariah officers in Bangladesh seem to lack independence and decision-making authority in accomplishing ex-post Shariah governance functions (i.e. Shariah audit, Shariah compliance and Shariah review) as well as ensuring Shariah compliance. The Shariah officers cannot work spontaneously on practical issues without any interference. The ...

Research paper thumbnail of Impact of goodwill on firms’ capital structure in developing countries

Research paper thumbnail of The Reasons Behind the Absence of a Comprehensive Shariah Governance Framework of Islamic Banks in Bangladesh

International Journal of Economics and Business Administration, 2020

Purpose: The main objective of the study is to examine the reasons behind the absence of a compre... more Purpose: The main objective of the study is to examine the reasons behind the absence of a comprehensive Shariah Governance Framework (SGF) of Islamic banks in Bangladesh. Design/Methodology/Approach: The study has covered 17 respondents through semistructured interviews from the Islamic banks and the Central Bank of Bangladesh with a combination of Shariah supervisory board members, Shariah department executives, Central Bank executives, and banking experts. Findings: Based on findings, this study outlines that the knowledge gap of management, unqualified Shariah supervisory boards members, executives in Central Bank and Islamic banks, and intention of the regulators, policymakers, Shariah experts, government executives, Islamic bankers, Board of directors, stakeholders and civil societies are responsible for the absence of a comprehensive SGF. Practical Implications: The study has significantly contributed to the national regulators, government, and the Central Bank of Bangladesh on the subject for developing a comprehensive Shariah Governance Framework. Originality/Value: The study highlights the reasons for the absence of a comprehensive Shariah Governance Framework which was unexplored for more than 30 years.

Research paper thumbnail of A Central Shariah Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation

The Journal of Asian Finance, Economics and Business, 2020

This study aims to find out the legalization status of a central Shariah regulatory authority for... more This study aims to find out the legalization status of a central Shariah regulatory authority for the Islamic banks in Bangladesh. In this regard, the central bank can legalize the existing Centralized Shariah Board for Islamic Banks of Bangladesh (CSBIB) or form a new Centralized Shariah Supervisory Board (CSBB) under the management of the central bank in Bangladesh. Based on the data obtained by the semi-structured interviews, this research finds diversified opinions regarding the legalization of CSBIB or the formation of a new CSBB. Initially, without the law, it would be difficult to form CSSB under the central bank as the Islamic banks and banking environment are still not ready. In addition, it is difficult to legalize the existing CSBIB because the format of its structure is different from the CSSB structure in Malaysia and Bahrain. The existing banking company act authorizes the central bank to provide circulars regarding banking issues and it will be considered as an act. The central bank can legalize the existing CSBIB or form a new CSSB through a circular which will be helpful to monitor the overall Shariah issues. The presence of a CSSB will fulfill the expectations of all Islamic banks, and the concerned stakeholders.

Research paper thumbnail of Working Capital Management Practice and Its Impact on Profitability of Bangladeshi Companies

iv At first, I would like to express my utmost gratitude to almighty Allah for providing me the o... more iv At first, I would like to express my utmost gratitude to almighty Allah for providing me the opportunity to study at this level and also to conduct this research successfully. Then, I would like to acknowledge gratefulness and indebtedness to my research guide and supervisor, Dr. Md. Rafiqul Islam, Professor, Department of Banking and Insurance, University of Dhaka, for whom these few words of acknowledgement would be too little. He taught me the theories and applications of financial research. His intellectual supervision made me highly confident to articulate the desired outcome of the research. My earnest thanks are due to Professor Dr. Azizur Rahman Khan, former Chairman, Department of Banking and Insurance, University of Dhaka. With valuable suggestions and moral support, he helped me to improve the quality of my dissertation as well as to complete the research.

Research paper thumbnail of Impact of goodwill on capital structure and the moderating role of investors' education

Managerial and Decision Economics

Research paper thumbnail of Why Does Bangladesh Require a Centralized Shariah Governance Framework for Islamic Banks?

Journal of Nusantara Studies (JONUS)

The main objective of this article is to describe the logical reasons why a Centralized Shariah G... more The main objective of this article is to describe the logical reasons why a Centralized Shariah Governance Framework (CSGF) provided by the Central Bank of Bangladesh (Bangladesh Bank) is essential for the country’s Islamic banks. In doing so, it identifies the major regulatory challenges (self-developed and disparate use of Shariah Governance (SG) practices) faced by Islamic banks in Bangladesh. It considers an analytical approach to explore the significance of a CSGF for Islamic banks in Bangladesh and examines the current diversified procedures of SG practices. This article reveals that the self-developed SG practices of Islamic banks in Bangladesh have created confusion and pessimism among the practitioners, bankers and even to the general people and regulators which is negatively affecting the overall image of Islamic banks. Such incongruent governance practices have led to inconsistencies in SG structures, implementation procedures, monitoring activities. In addition, this art...

Research paper thumbnail of Working capital management practice and its impact on profitability of Bangladeshi companies

This thesis paper submitted to the University of Dhaka, Bangladesh for the degree of Master of Ph... more This thesis paper submitted to the University of Dhaka, Bangladesh for the degree of Master of Philosophy.

Research paper thumbnail of Working Capital Management Practices in an Emerging Economy: the case of Bangladesh

This study attempts to investigate the Working Capital Management (WCM) practices of manufacturin... more This study attempts to investigate the Working Capital Management (WCM) practices of manufacturing companies in an emerging economy namely Bangladesh. The study also explores the changes of WCM practices over the period and examines the variation of WCM practices among different manufacturing industries by considering 80 manufacturing companies listed in Dhaka Stock Exchange (DSE) in seven different categories for the period 2009-2013 i.e. 400 firm-year observations. The research applies univariate analysis to explore the WCM practices, Wilcoxon test to find the periodic changes of WCM, and Kruskal-Wallis test to analyze the variation of WCM practices among different industries. Results show that although WCM practices of manufacturing companies in Bangladesh changed over the period with an improving trend, the change is not statistically significant. However, the variation of WCM practices among different industries is significant. The most important contribution of this study is...

Research paper thumbnail of Shariah supervisory boards of Islamic banks in Bangladesh: expected duties and performed roles and functions

Purpose The main aim of this research is to ascertain the expected duties and performed roles and... more Purpose The main aim of this research is to ascertain the expected duties and performed roles and functions of the Shariah supervisory boards (SSBs) of Islamic banks in Bangladesh. Design/methodology/approach A semistructured face-to-face interview was applied to accomplish the research objectives. In total, data was collected from 17 respondents with a combination of regulators, SSBs, Shariah department executives and experts from the central bank and Islamic banks in Bangladesh. Findings This study finds that the expectations of Islamic banks toward SSB members are to provide opinions on Shariah issues, guidelines and decisions regarding the modern banking, practices and delivering of fatwas on the contemporary issues offered by the management to fulfill the demand of the numerous stakeholders. In addition, they can develop Shariah governance (SG) policies and implement those guidelines, approve and develop new products, observe and monitor banking functions, identify problems and...

Research paper thumbnail of A Central Shariah Regulatory Authority for the Islamic Banks in Bangladesh: Legalization or Formation

The Journal of Asian Finance, Economics and Business, Jan 31, 2020

This study aims to find out the legalization status of a central Shariah regulatory authority for... more This study aims to find out the legalization status of a central Shariah regulatory authority for the Islamic banks in Bangladesh. In this regard, the central bank can legalize the existing Centralized Shariah Board for Islamic Banks of Bangladesh (CSBIB) or form a new Centralized Shariah Supervisory Board (CSBB) under the management of the central bank in Bangladesh. Based on the data obtained by the semi-structured interviews, this research finds diversified opinions regarding the legalization of CSBIB or the formation of a new CSBB. Initially, without the law, it would be difficult to form CSSB under the central bank as the Islamic banks and banking environment are still not ready. In addition, it is difficult to legalize the existing CSBIB because the format of its structure is different from the CSSB structure in Malaysia and Bahrain. The existing banking company act authorizes the central bank to provide circulars regarding banking issues and it will be considered as an act. The central bank can legalize the existing CSBIB or form a new CSSB through a circular which will be helpful to monitor the overall Shariah issues. The presence of a CSSB will fulfill the expectations of all Islamic banks, and the concerned stakeholders.

Research paper thumbnail of Working Capital Financing Policy and Profitability: Empirical Study on Bangladeshi Listed Firms

British Journal of Economics, Management & Trade