.... It extends Agency Theory by validating its relevance in a developing country context and demonstrates that effective governance practices – especially board independence and separation of leadership roles – can mitigate agency problems even in the absence of strong regulatory frameworks. The findings offer...

... contexts in the region. According to agency theory, a board’s independence and diversity boost an organization’s efficacy (Biswas et al., 2023). It holds that having a diverse board may improve monitoring efficacy, which in turn can result in trustworthy and transparent reporting. Gender, tenure...