The Impact of Family Ownership on Firm Value and Corporate Governance: Evidence from the Financial Sector of Bangladesh

Abstract

This study attempts to find family ownership effects in developing the financial sector
in Bangladesh. The objective of the study is to find out family control influence on the listed
financial companies of Bangladesh. Four alternative variables to measure family control have
been used in their study. The study explores a negative relationship between family control and
firm value. Moreover, the relation is weaker between firm value and board stock ownership.
Family control is found to be valuable for newly established financial companies with more
independent and smaller boards in the financial sector in Bangladesh.