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

Zubair Ahmad, Zeeshan Mahmood

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

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.

Original languageEnglish
Pages (from-to)99-124
Number of pages26
JournalJournal of Accounting in Emerging Economies
Volume14
Issue number1
DOIs
Publication statusPublished - 9 Feb 2024
Externally publishedYes

Keywords

  • Corporate governance regulation
  • Developing countries
  • Family businesses
  • Regulatory space
  • Strategic responses

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