Stakeholders Perspective of an Ideal Board of Director in Pakistan: A Survey from Pakistan
Muhammad Ali Jinnah University, Islamabad, Pakistan
- Corresponding Author:
- Habib M
Muhammad Ali Jinnah University
E-mail: [email protected]
Received date: October 31, 2015 Accepted date: December 01, 2015 Published date: December 04, 2015
Citation: Habib M (2015) Stakeholders Perspective of an Ideal Board of Director in Pakistan: A Survey from Pakistan. Arts Social Sci J 6:149. doi:10.4172/2151-6200.1000149
Copyright: © 2015 Habib M. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution and reproduction in any medium, provided the original author and source are credited.
The main purpose of this study was to formulate a perceived model from stakeholder’s perspective of an ideal board of director in Pakistan. For this study we have reviewed critically the developed and developing nation’s family controlled companies. A perceived model for Pakistani companies was proposed after studying the pros and cons of the existing model. A suggestion has been made for SECP that a good quality of board, a good quality of individual director and a good board performance can be achieved according to this perceived model of stakeholders. Nonexecutive directors (NEDs) and independent executive directors (INEDs) will be encompassing in entire perceived board. The aim of this perceived model would be overcome the main source of poor board in Pakistan i.e., to fill the board in the sense of ensuring the balance of representation, talent, size, power and social responsibility. This survey is about stakeholder’s perspective an ideal board of directors in Pakistan. This survey underlines the stakeholder’s perspectives; respondents were provided a list of 37 indicators of board of directors and asked to rank the indicators according to their order of preference. No.1 meant to be the most preferred indicator that was talent on the board, No.2 representation of all stakeholders, No.3 NED/INEDs structure on board, No.4 balance size of the board, No.5 power on the board and No.6 CSR meant to be the least preferred indicator. The researcher identify knowledge gap when it comes to examine in Pakistan.