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While the world-wide adoption of international financial reporting standards (IFRS) aims to eliminate differences in national accounting standards between countries, the socio-political institutions surrounding financial reporting practices remain localised. This paper aims to penetrate and reveal the manner in which local national context, stakeholder intentions and financial reporting practices can moderate the compliance with IFRS in a developing country.

An interview-based qualitative research framework was used to analyse the experience and attitudes of accountants, auditors and financial reporting regulators during a passage of accounting reform initiatives.

This paper provides a critical analysis of the financial reporting practices of a developing country that has ostensibly implemented accounting reforms prescribed by the World Bank. It has revealed the key firm- and field-level logics that are experienced and managed by regulators and corporate managers in their approaches to financial reporting and accountability. The World Bank-led accounting reform can be constrained by a complex mix of institutional logics originating from market and corporate structures, networks of institutionalised family and political relationships, professional and regulatory structure and resourcing limitations and cultural business conventions. This paper provides evidence of firm- and field-level logics that contest and influence the emergence of a financial reporting oversight body and lead to highly variable compliance with international accounting standards.

This paper aims to extend our knowledge beyond broad national-level elements of institutional orders. It presents a more penetrating examination of the existence and contestation of logics originating from various local and global actors and interests. It presents a theoretical mapping of institutional logics, which operate in international and local settings and also encompass firm- and field-level imperatives. Any effort to understand and improve accounting practices of a developing country need to consider the power, contestation and influence of multiple logics operating in its institutional environment.

The International Financial Reporting Standards (IFRS) have been adopted by 140 countries around the globe, including the G20 countries. Most of the prior literature focuses on adoption issues in developed countries. Due to the paucity of research on implementation issues in developing countries, the purpose of this paper is to explore the impediments of IFRS implementation in a developing country from 1998 to 2014 based on the auditors’ perceptions and documentary analyses.

Three rounds of interviews (2010, 2012, and 2014) from a total of 75 auditors (including 12 internal auditors and 13 external auditors) were conducted and enforcement documents from 1998 to 2010 were evaluated. The purpose of the three rounds of interviews was to explore the reflection on the changes which the interviewees have experienced over a five-year period.

Using institutional isomorphism, the results suggest that policy makers should focus on several factors to implement IFRS effectively, including low audit fees, a lack of qualified accountants, a lack of interest in IFRS by managers of some companies, a culture of secrecy, and a family-based private sector. Surprisingly, chartered accountancy firms are able to continue their work because of a culture of non-punishment for violating rules and the absence of any reliable exercising of due care or professional ethics in Bangladesh. Regulators such as the Bangladesh Securities and Exchange Commission (BSEC) and the Institute of Chartered Accountants of Bangladesh are not inclined to enforce actions against corrupt chartered accountant firms. This raises question about the professional integrity of auditors as well as regulators. Unlike, Albu et al. (2011) (World Bank as coercive) and Hassan et al. (2014) (western influence as coercive), the findings of this study imply that coercive isomorphism (regulatory authorities in Bangladesh) should be more proactive to ensure a successful implementation of IFRS.

This study has some limitations, including transcribing information from Bengali to English and some enforcement documents were not available on the BSEC website. This last limitation is mitigated by the fact that a substantial number of enforcement releases (1,647 enforcement notices for a 13-year period) are analysed and three rounds of interviews were conducted.

The findings of this study contribute to, and advance the incremental knowledge of IFRS implementation issues and auditing literature in a developing country’s experience to policy makers (e.g. World Bank, IMF, Basel Committee, G20, IOSCO, and IFAC). The findings may be generalised to other developing countries that are facing effective implementation of IFRS.

The purpose of this study is to compare the corporate governance (CG) codes of Pakistan, India and Bangladesh with the CG guide of United Nations (UN) and to identify the similar points of these codes with the requirements of Combined Code (CC) that are not included in the CG guide of UN.

This study is based on the qualitative data, while content analysis is used for the analysis. For this exploratory research, different documents have been reviewed and consulted and qualitative data are collected from those. A multiple case study approach is adopted because the codes of three countries (four CG codes used for the analysis) have been reviewed.

This study has presented that the Pakistani and Bangladeshi (issued by Bangladesh Enterprise Institute) CG code has approximately 77 per cent convergence (40 out of 52), Indian CG code has 50 per cent convergence (26 out of 52), whereas the Bangladeshi (issued by Bangladesh Security and Exchange Commission) CG code has approximately 41 per cent convergence (21 out of 52) to CG guide of UN. Seven similar points to CC have been found out in all four or few of the codes that were used in this study.

This study has explored the convergence of CG codes of Pakistan, Bangladesh and India with the CG guide of UN. Furthermore, this study has highlighting the similar mechanisms presented in CC and the codes of selected countries so international investors get clear information about the quality of these codes and take informed investment decision.

The purpose of this paper is to elaborate a political economy of corporate governance (CG) change and stability in family business groups (BGs) and assist in explaining why certain CG reforms fail in one context but work in others.

Three BGs in Bangladesh are studied. A mixture of data sources is used, namely interviews, observations of practices, historical documentation, company reports and research papers and theses. The results are analysed by applying Archer’s morphogenetic approach, focussing on both macro- and micro-processes of change.

A newly-adopted CG framework, which created incentives and pressures for family directors to act in the best interests of general shareholders, did not seem to alter apparently simple but complex internal structural set-ups. Thus, regulatory efforts to empower general shareholders did not produce the expected results. Following Archer’s morphogenetic approach, the authors identify key structural conditioning or emergent properties and agential strategies to explain why and how BGs opted for symbolic compliance and achieved lax regulation and enforcement.

The paper opens up a new methodological and theoretical space for future CG research, especially by applying a meta-theoretical guideline such as the morphogenetic approach, for nuanced explanation and a more inclusive understanding of CG practices, reform and change in different organisational and institutional settings.

The morphogenetic approach aids in developing a political economy of CG change and stability and provides a nuanced explanation of CG practices. This is illustrated through an exploration of CG change initiatives in Bangladeshi BGs.

The current study investigates the impact of directors' attributes on the extent of compliance with International Financial Reporting Standards (IFRS) fair value disclosure requirements. The attributes investigated include directors' human capital (accounting qualification) and social capital (political association), directors' share ownership and the power distance between the chief executive officer (CEO) and the rest of the board members.

The study uses disclosure analysis to measure the extent of compliance with the fair value disclosure requirements of IFRS. Ordinary least squares (OLS) regression is used to test the relationship between the disclosure score and directors' attributes. Data were collected from the annual reports and websites of the sample companies.

Contrary to conventional belief, this study's findings suggest that directors' social capital and the power distance between the CEO and the rest of the board act as more powerful factors than directors' human capital in explaining corporate mandatory disclosure. Specifically, the results indicate that powerful actors form a dominant coalition and co-opt influential constituents from the institutional domain to neutralize the effect of legal coercion and the accounting expertise of board members and Big Four audit firms on the extent of compliance with institutional (fair value) rules.

This study utilizes Oliver's (1991) framework of strategic response to institutional processes in the Bangladeshi context. Although the study provides new insights into corporate disclosure practices, findings are not generalizable due to different institutional settings in different countries. Therefore, future studies could replicate the approach in different institutional settings.

The findings of this study will be of interest to the International Accounting Standards Board (IASB) as it focuses on a developing country that has adopted IFRS 13 and other fair value-related standards relatively recently.

The disclosure analysis contained in this study represents the first comprehensive analysis of the extent of compliance with the fair value disclosure requirements of IFRS. Furthermore, this study considers the impact of directors' social capital and finds that it is a more powerful determinant of the extent of compliance with IFRS as compared to human capital.

The study aims to determine the the optimal value of output parameters of a variable compression ratio (CR) diesel engine are investigated at different loads, CR and fuel modes of operation experimentally. The output parameters of a variable compression ratio (CR) diesel engine are investigated at different loads, CR and fuel modes of operation experimentally. The performance parameters like brake thermal efficiency (BTE) and brake specific energy consumption (BSEC), whereas CO emission, HC emission, CO₂ emission, NO_x emission, exhaust gas temperature (EGT) and opacity are the emission parameters measured during the test. Tests are conducted for 2, 6 and 10 kg of load, 16.5 and 17.5 of CR.

In this investigation, the first engine was fueled with 100% diesel and 100% Calophyllum inophyllum oil in single-fuel mode. Then Calophyllum inophyllum oil with producer gas was fed to the engine. Calophyllum inophyllum oil offers lower BTE, CO and HC emissions, opacity and higher EGT, BSEC, CO₂ emission and NO_x emissions compared to diesel fuel in both fuel modes of operation observed. The performance optimization using the Taguchi approach is carried out to determine the optimal input parameters for maximum performance and minimum emissions for the test engine. The optimized value of the input parameters is then fed into the prediction techniques, such as the artificial neural network (ANN).

From multiple response optimization, the minimum emissions of 0.58% of CO, 42% of HC, 191 ppm NO_x and maximum BTE of 21.56% for 16.5 CR, 10 kg load and dual fuel mode of operation are determined. Based on generated errors, the ANN is also ranked for precision. The proposed ANN model provides better prediction with minimum experimental data sets. The values of the R² correlation coefficient are 1, 0.95552, 0.94367 and 0.97789 for training, validation, testing and all, respectively. The said biodiesel may be used as a substitute for conventional diesel fuel.

The blend of Calophyllum inophyllum oil-producer gas is used to run the diesel engine. Performance and emission analysis has been carried out, compared, optimized and validated.

The purpose of this study is to examine the effect of board characteristics on foreign equity ownership (FEO) in the listed public limited companies of Bangladesh.

The study collected data from 418 annual reports of listed companies of Bangladesh for the years 2015, 2016 and 2017 to examine the effect of board characteristics on FEO. Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression methods are used to test the hypotheses of the study.

The results show that board size has significant negative influence on FEO. Other board characteristics variables such as board independence and female directorship appear to have an insignificant influence on FEO. However, several firm characteristics variables such as return on assets, market-to-book ratio, firm size and firm age have a significant positive relationship with FEO. While presenting the regression results separately for manufacturing and non-manufacturing firms, the findings reveal a number of differences in the results between the two sectors.

The major limitation of the study is that it concentrates only on three years annual report data in analyzing the hypothesized relationships.

Policy makers, regulators and top management can get meaningful insights with respect to optimal board structure and firm characteristics to attract foreign investors as the results revealed significant effects of several board and firm characteristics variables on FEO.

The present study includes the presence of female directors on the board to represent board characteristics. No other study has examined the relationship between FEO and female directors.

The purpose of this paper is to examine the development of corporate social (CS) reporting in the developing country’s banking industry from the legitimacy theory perspective – Bangladesh as a case.

This study uses the longitudinal aspects and analyzes the content of annual reports using the ISO26000 standard with some country- and industry-specific adjustments as the method of data coding. All Dhaka Stock Exchange-listed banks (30 of 47, 2013) and 282 annual reports with 46 reporting items have been used for data analysis during a 10-year period (2004-2013). A CS reporting index has been constructed for this purpose of analysis.

The key findings are that the main impetus driving the development of CS reporting was the stakeholder initiatives; the CS reporting index was less than 20 in 2004, and it increased linearly and reached around 60 in 2013 because of the legitimization of the new banking process through social perceptions. This study explains that the contemplation of the legitimacy theory argument can similarly be applied to the developing countries as well as to the banking industry’s context.

The main implication of this study is the extension of the broader thrust of the legitimacy theory argument in the developing country’s banking industry, such as that of Bangladesh.

This study contributes to the documentation of the CS reporting practices of the developing country’s banking industry where there is a lack of published longitudinal studies from the legitimacy theory perspective.

Over past decades, the fossil fuel reserves in the world have been decreasing at an alarming rate and a lack of crude oil is expected in the early decades of this century. Also, the eco-neutral pollutants such as carbon monoxide (CO), oxides of nitrigen (NOx) and unburnt hydrocarbons (UHC) are also increasing. This calls for innovative research in non-conventional fuels to replace fossil fuels. Hydrogen is one such fuel which has an exceptional combustion property and appears to be proving itself as the best transportation fuel of the future. On the other hand, compressed natural gas(CNG) has already been credited as a remarkable fuel for its better emission characteristics and has been implemented as a transportation fuel in metros. Therefore, the use of hydrogen blended with natural gas seems to be a viable alternative to pure fossil fuels because of the expected reduction of the total pollutants and increase of efficiency. This paper aims to investigate this issue.

In the present experimental investigation, 10 and 20 per cent of hydrogen–CNG mixture(HCNG) by mass of fuel is inducted into the combustion chamber in conjunction with air in HCNG–diesel dual fuel mode. The variation in injection opening pressure is assessed to optimize the performance and emission characteristics.

Experiments were conducted at three different injection opening pressures, i.e. 200, 220 and 240 bar, at full-load condition and the performance characteristics were calculated. The effect of injection operating pressure(IOP) on emissions were measured and compared with pure diesel mode.

Brake thermal efficiency (BTE) was increased by 1.2 per cent at 220 bar. Minimum BSFC of 0.2302 kg/kWh, 0.2114 kg/kWh was noticed for 220 bar with a changing ratio of 20 per cent of HCNG. It was noticed that CO and UHC decreased with variation in IOP and HCNG content in the blend. However, there was an increase in NOx emissions.

This paper aims to present the production of waste plastic oil from landfill waste plastics, the performance and emissions of a compression ignition (CI) engine, using waste plastic oil, were tested and compared with using diesel oil. The physical characteristics, gross calorific value (MJ/kg), kinematic viscosity cst @40°C, specific gravity @15.6°C, cetane index, flash point and distillation temperature @90 per cent are determined. The experimental CI engine is a four-stroke, direct injection, single cylinder, 709 C.C. and has been tested with in-brake-specific fuel consumption (BSFC), brake conversion efficiency, brake-specific energy consumption and exhaust gas emissions.

The results show that the characteristics of liquid fuel from landfill plastics (LFLP3) are similar to diesel oil. The CI engine was able to run with LFLP3. The efficiency was slightly higher than that of diesel fuel, whereas the BSFC was lower. The exhaust-gas emission average for LFLP3 was reduced compared to diesel oil operation.

The efficiency of the CI engine using LFLP3 is slightly higher than diesel fuel at all load conditions. In this study, LFLP3 was a lower pollutant than diesel fuel. Environmental values and energy consumption are important when reviewing the ignition of any fuel in a combustion chamber.

The efficiency of the CI engine using LFLP3 is slightly higher than diesel fuel at all load conditions. In this study, LFLP3 was a lower pollutant than diesel fuel. Environmental values and energy consumption are important when reviewing the ignition of any fuel in a combustion chamber.