To read this content please select one of the options below:

Corporate governance regulation in regulatory space of a developing country: actors, strategies and outcomes

Zubair Ahmad (Institute of Management Sciences, Faculty of Commerce, Banking and Business Administration, Bahauddin Zakariya University, Multan, Pakistan)
Zeeshan Mahmood (Department of Commerce, Faculty of Commerce, Banking and Business Administration, Bahauddin Zakariya University, Multan, Pakistan)

Journal of Accounting in Emerging Economies

ISSN: 2042-1168

Article publication date: 13 February 2023

Issue publication date: 9 February 2024

206

Abstract

Purpose

This study seeks to deepen the understanding of the political process underlying the establishment and evolution of corporate governance (CG) regulations in a developing country.

Design/methodology/approach

Drawing on regulatory space concept (Hancher and Moran, 1989) and Oliver's (1991) typology of strategic responses, the authors identify which actor participated in and benefitted from the establishment of a new transnational CG regulation in Pakistan. Data were collected through interviews and from the published secondary sources.

Findings

The findings highlighted regulations are being influenced and shaped up by the political process of negotiation, bargaining, manipulation and domination between powerful and resourceful actors in a given regulatory space. National regulators and regulatees can be indeed fervent opponents to the transnational regulations when it comes to protecting their well-rooted national interests.

Originality/value

This study contributes to the accounting literature by illustrating political processes through which internationally recognised CG practices are resisted, negotiated and implemented in the developing countries. The regulator must pay attention that the outcome of the regulatory change process is the result of carefully crafted and conscious strategies of actors in the regulatory space.

Keywords

Citation

Ahmad, Z. and Mahmood, Z. (2024), "Corporate governance regulation in regulatory space of a developing country: actors, strategies and outcomes", Journal of Accounting in Emerging Economies, Vol. 14 No. 1, pp. 99-124. https://doi.org/10.1108/JAEE-11-2021-0362

Publisher

:

Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

Related articles