A Comparative Analysis of Corporate Governance Guidelines: Bangladesh Perspective

Rahman,Md,Musfiqur,Khatun,Naima 한국유통과학회 2019 KODISA ICBE (International Conference on Business Vol.2019 No.-

The purpose of this research study is to make a comparative analysis between corporate governance guidelines 2006 and 2012 and area of further improvement to ensure better governance, accountability and transparency. This research study is mainly based on the corporate governance guidelines 2006 and 2012 issued by the regulatory authority known as Bangladesh Securities and Exchange Commission (BSEC). This study finds that corporate governance guideline 2012 include some new issues such as criteria and qualification of independent director; some additional statements in the directors report; mandatory requirement of separation of chairman and CEO; constitution of audit committee, chairman of audit committee; role of audit committee; duties of CEO and CFO on financial statements; and collection of compliance certificate from professional accountant or secretary in compare to corporate governance guidelines 2006. This study suggests that the regulatory authority should include more issues such as tax management and reporting, risk management and reporting; individual and overall performance analysis of the board and independent directors; separate nomination and compensation committee; assessment of true independence of the board and its supporting committees to ensure higher quality of corporate governance and transparency.

LC-MS/MS를 이용한 축산물 중 spinosad의 분석법 개발

( Musfiqur Rahman ),( Abd El Aty ),정형석 ( Hyung Suk Chung ),( Humayun Kabir ),이한솔 ( Han Sol Lee ),심재한 ( Jae-han Shim ) 한국환경농학회 2017 한국환경농학회 학술대회집 Vol.2017 No.-

A simple and effective method was developed for analysis of spinosad (spinosyn A and spinosyn D) in five animal origin products (chicken, pork, beef, table egg, and milk) using liquid chromatography-tandem mass spectrometry (LC-MS/MS). Sample was extracted with acetonitrile and salt and purified via dispersive solid phase extraction (d-SPE) procedure using multi-walled carbon nanotubes (MWCN). The limits of quantification (LOQ) were maintained ten times lower than the maximum residue limits (MRL) followed by Codex guideline and were ranged between 0.001 and 0.1 mg/kg. Seven points matrix matched external calibration curves were prepared for each of the matrices and good linearity was observed with determination coefficients (R²)≥0.997. Method was validated in triplicate with three fortification levels at LOQ, 2LOQ and 10LOQ. A good recovery was observed for each of the fortification levels and was ranged between 73.84 and 103.60% with relative standard deviation (RSD) ≤ 9.68. The method can be extrapolated to other matrices for routine analysis of spinosad in livestock products or other matrices.

The Impact of Intellectual Capital Disclosure on Firm Performance: Empirical Evidence from Pharmaceutical and Chemical Industry of Bangladesh

RAHMAN, Md. Musfiqur,SOBHAN, Raihan,ISLAM, Md. Shafiqul Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.2

The main purpose of this study is to examine the impact of intellectual capital disclosure (ICD) on firm performance in the pharmaceutical and chemical industry of Bangladesh. In this study, 21 listed pharmaceutical and chemical companies have been selected as sample for 2016 and 2017. This study used the intellectual capital disclosure index developed by Rahman, Sobhan, and Islam. Return on assets and return on equity have been used as the proxy variable of firm performance. In this study, content analysis is performed to assess the level of disclosure regarding intellectual capital and pooled cross-sectional analysis is used to assess the relationship between ICD and firm performance. The study has found a positive and significant relationship between ICD and firm performance. Besides, an in-depth analysis of this study shows that all the components of ICD namely internal capital disclosure, external capital disclosure, and human capital disclosure are also positively and significantly associated with firm performance. The study suggests the development of an intellectual capital disclosure framework by the regulatory authority for mandatory compliance. This will improve the quality and quantity of ICD in the annual reports. Besides, firms should more emphasize on ICD which will help to improve their performance.

A simple extraction method for the detection and quantification of polyoxin D, a nucleoside antibiotic, in butterbur using UPLC-MS/MS

Rahman, Md. Musfiqur,Abd El-Aty, A.M.,Kim, Sung-Woo,Na, Tae-Woong,Shin, Ho-Chul,Hong, Su-Myeong,Shim, Jae-Han Applied Science Publishers 2017 Food chemistry Vol.221 No.-

<P><B>Abstract</B></P> <P>An effective analytical method was developed for the detection and quantification of polyoxin D in butterbur using ultra-performance liquid chromatography-tandem mass spectrometry (UPLC-MS/MS). Samples were extracted using acidified deionised water and purified via solid-phase extraction (SPE) using an HLB cartridge. An external matrix-matched standard calibration curve was prepared, which provided an excellent linearity with a coefficient of determination (<I>R</I> <SUP>2</SUP>) ⩾0.999. Limits of detection (LOD) and quantification (LOQ) were 0.015 and 0.0.05μg/g, respectively. The developed method was validated in terms of recovery performance using two fortification levels in triplicate. The storage stabilities of the various field samples were also determined. Our method provided consistent recovery (86.26–87.37%) with a relative standard deviation (RSD) of <5%, and was successfully applied to field-treated butterbur grown under greenhouse conditions and collected at various times following commercial fungicide application. As expected, a gradual degradation of polyoxin D was observed, with a half-life (t<SUB>1/2</SUB>) of 2.11d being recorded. Finally, we propose that the developed method can be extrapolated to other crops for routine analysis and can be used to determine the pre-harvest intervals (PHIs), thus preventing the development of antibiotic resistance genes in humans and in the environment.</P> <P><B>Highlights</B></P> <P> <UL> <LI> A simple and effective method was developed for the detection and quantification of polyoxin D in butterbur using UPLC-MS/MS. </LI> <LI> Due to the hydrophilic character of polyoxin D, the analyte was unrecovered following QuEChERS extraction. </LI> <LI> QuEChERS d-SPE was also unable to remove interference in the UPLC-MS/MS results originating from chlorophyll and other pigments from green leafy vegetables. </LI> <LI> Use of acidified water extractions and Oasis HLB cartridges successfully recovered the target analyte. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

Simultaneous determination and identity confirmation of thiodicarb and its degradation product methomyl in animal-derived foodstuffs using high-performance liquid chromatography with fluorescence detection and tandem mass spectrometry

Rahman, Md. Musfiqur,Abd El-Aty, A.M.,Kim, Sung-Woo,Lee, Young-Jun,Na, Tae-Woong,Park, Joon-Seong,Shin, Ho-Chul,Shim, Jae-Han Elsevier 2017 Journal of chromatography. B, Analytical technolog Vol.1040 No.-

<P><B>Abstract</B></P> <P>A high-performance liquid chromatography-fluorescence detection method was developed for the simultaneous determination of thiodicarb and its degradation product methomyl in animal-derived food products, including chicken muscle, beef, pork, table eggs, and milk. Thiodicarb is known to degrade during analysis; therefore, a thorough investigation was carried out, revealing that thiodicarb degrades to methomyl immediately after spiking into a matrix of animal-derived food products. Consequently, thiodicarb was determined as the sum of the parent compound and methomyl. Samples were extracted with acetonitrile and sodium salts, and purified using solid-phase extraction (SPE). The limits of detection (LODs) and quantification (LOQs) were 0.0013 and 0.004mg/kg, respectively, for both analytes in various matrices. Seven-point external calibration curves were obtained, and they showed excellent linearity with determination coefficients (<I>R<SUP>2</SUP> </I>)≥0.999 for all tested matrices. The method was validated at three fortification levels (LOQ, LOQ×2, and LOQ×10) in triplicate with average recoveries ranging from 84.24 to 112.8% (for methomyl) and relative standard deviations (RSDs)≤6.5% in all matrices. The converted recoveries of thiodicarb in various matrices ranged from 74.80 to 107.80% with RSDs≤4.5%. The identities of both compounds in standard solutions and for recovery were confirmed using liquid chromatography-tandem mass spectrometry (LC–MS/MS). The developed method was further validated by accurate reproduction at another laboratory. Finally, the method was applied to market samples collected from different areas (and, in the case of milk, different brands), and none of the samples tested positive for thiodicarb or methomyl. In conclusion, the developed method can be successfully applied for a single-run analysis of thiodicarb and methomyl in livestock products.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Due to the frequent degradation of thiodicarb in animal food products, its recovery was very poor. </LI> <LI> It was observed that thiodicarb was breakdown to methomyl just after fortification. </LI> <LI> Improvement or development of a methodology cannot improve thiodicarb recovery. </LI> <LI> At last, a simultaneous method was developed after consideration of methomyl and thiodicarb as a total residue of thiodicarb. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

매실 중 Kresoxim-methyl과 이열성 대사체의 분석: GC 분석을 위한 보호제로 고춧잎 Matrix의 적용

( Musfiqur Rahman ),박종혁 ( Jong Hyuk Park ),양앤젤 ( Angel Yang ),박기훈 ( Ki Hun Park ),심재한 ( Jae Han Shim ) 한국환경농학회 2012 한국환경농학회 학술대회집 Vol.2012 No.-

Simultaneous quantification of methiocarb and its metabolites, methiocarb sulfoxide and methiocarb sulfone, in five food products of animal origin using tandem mass spectrometry

Rahman, Md. Musfiqur,Abd El-Aty, A.M.,Na, Tae-Woong,Park, Joon-Seong,Kabir, Md. Humayun,Chung, Hyung Suk,Lee, Han Sol,Shin, Ho-Chul,Shim, Jae-Han Elsevier 2017 Journal of chromatography. B, Analytical technolog Vol.1060 No.-

<P><B>Abstract</B></P> <P>A simultaneous analytical method was developed for the determination of methiocarb and its metabolites, methiocarb sulfoxide and methiocarb sulfone, in five livestock products (chicken, pork, beef, table egg, and milk) using liquid chromatography–tandem mass spectrometry. Due to the rapid degradation of methiocarb and its metabolites, a quick sample preparation method was developed using acetonitrile and salts followed by purification via dispersive- solid phase extraction (d-SPE). Seven-point calibration curves were constructed separately in each matrix, and good linearity was observed in each matrix-matched calibration curve with a coefficient of determination (<I>R<SUP>2</SUP> </I>) ≥ 0.991. The limits of detection and quantification were 0.0016 and 0.005mg/kg, respectively, for all tested analytes in various matrices. The method was validated in triplicate at three fortification levels (equivalent to 1, 2, and 10 times the limit of quantification) with a recovery rate ranging between 76.4–118.0% and a relative standard deviation≤10.0%. The developed method was successfully applied to market samples, and no residues of methiocarb and/or its metabolites were observed in the tested samples. In sum, this method can be applied for the routine analysis of methiocarb and its metabolites in foods of animal origins.</P> <P><B>Highlights</B></P> <P> <UL> <LI> Methiocarb and its metabolites are degraded rapidly at lower concentrations of working standard solutions. </LI> <LI> Time-consuming methods are therefore inappropriate for their determination. </LI> <LI> A quick and simultaneous method was developed and optimised for methiocarb and its metabolites in animal food products. </LI> <LI> The developed method provided acceptable recovery and repeatability in all tested products. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

A quick and effective methodology for analyzing dinotefuran and its highly polar metabolites in plum using liquid chromatography-tandem mass spectrometry

Rahman, Md. Musfiqur,Abd El-Aty, A.M.,Kabir, Md. Humayun,Chung, Hyung Suk,Lee, Han Sol,Hacımü,ftü,oğ,lu, Fazil,Jeong, Ji Hoon,Chang, Byung-Joon,Shin, Ho-Chul,Shim, Jae-Han Elsevier 2018 Food chemistry Vol.239 No.-

<P><B>Abstract</B></P> <P>A simple and effective method was developed for analyzing dinotefuran and its three metabolites (MNG, UF, and DN) in plum using liquid chromatography-tandem mass spectrometry (LC-MS/MS). Due to the polarity and high water miscibility, dinotefuran and some of its metabolites (especially DN) have some limitations to be extracted with acetonitrile and salt following the “QuEChERS” sample preparation methodology. Alternatively, the samples were extracted with methanol, and purified with dispersive-solid phase extraction procedure (d-SPE) using primary secondary amine (PSA) and C<SUB>18</SUB> sorbents after filtration, and mass up. Due to the suppression effect originated from plum matrix, matrix-matched calibration curves, which provided good linearity with coefficient of determination (<I>R<SUP>2</SUP> </I>)≥0.998, were used for quantification of all analytes. Blank plum samples fortified with 2 spiking levels (10×LOQ and 50×LOQ) yielded satisfactory recoveries for all tested analytes in the range of 83.01 to 110.18% with relative standard deviation (RSD)≤8.91. The method was successfully applied to field-incurred plum samples and dinotefuran and all metabolites were positively detected and quantified. In conclusion, we suggest that the method can be expanded to polar compounds having solvent and partitioning problems in any of the versions of QuEChERS.</P> <P><B>Highlights</B></P> <P> <UL> <LI> A simultaneous method was developed for dinotefuran and its highly polar metabolites in plum. </LI> <LI> Mass-up was introduced instead of salting out for exact quantitation. </LI> <LI> Internal standard is not needed for the newly developed methodology. </LI> <LI> The method can be used either as it is or with slight modification in other matrices. </LI> </UL> </P> <P><B>Graphical abstract</B></P> <P>[DISPLAY OMISSION]</P>

Efficiency of Board Composition on Firm Performance: Empirical Evidence from listed Manufacturing Firms of Bangladesh

Md. Musfiqur Rahman,Farjana Nur Saima 한국유통과학회 2018 The Journal of Asian Finance, Economics and Busine Vol.5 No.2

Corporate governance has received massive attention in academic research nowadays due to several recent corporate failures. Inefficiency of corporate governance mechanisms have driven the minds of the researchers and the policy makers to look with more insights into this area. Board composition, as part of corporate governance mechanism, plays a significant role to achieve company’s goals or objectives and ensure transparency and accountability. The objective of this study is to find out the efficiency of board composition through board size, independent directors and female directors on firm performance in the listed manufacturing firms of Bangladesh. In this study, a sample of 162 firm years are considered as the sample during the period of 2011 to 2016. This study finds that large board is the significant explanatory variable in improving firm performance. This study also shows that board independence and female directors have no significant association with firm performance which implies that instrument of corporate governance mechanism particularly board composition is very weak. This study recommends that code of corporate governance, specially the role of independent directors and female directors, should be reformed in the light of cultural and institutional context along with the effective enforcement.

Intellectual Capital: A Review from the Literature

Md. Musfiqur Rahman,Naima Khatun 한국유통과학회 2016 The Journal of Industrial Distribution & Business( Vol.7 No.4

Purpose – The purpose of this paper is to get a clear concept about intellectual capital and reports on intellectual capital in different entities based on the literature review. Research design, data, and methodology - This study was mainly written in a way of descriptive research. The current studies deal with the theoretical and reporting aspects on intellectual capital. Thus, this research is developed on the basis of previous descriptive and empirical research papers. Results - This study finds that intellectual capital is the combination of human capital, structural capital and relational capital but there is no unique measurement system or process to define intellectual capital. The findings also indicates that the measurement for intellectual capital varies based on the measurement process, time period, firms, industries and country to country perspectives. It can be also observed that firms have the tendency not to disclose the intellectual capital information. Conclusions – This study recommends that intellectual capital should be presented in a fixed format and human, relational and structural capital should be included as intellectual capital. Additionally, it suggests that mandatory requirement of legislation, effective corporate governance mechanism and stock exchange listing requirement might increase the quality of intellectual reporting.