Antecedents of Islamic Corporate Governance: Evidence from Major Cities of Pakistan

Islamic Finance was adopted as a discipline in the 1980s. Islamic corporate governance is different from conventional corporate governance, as it’s purely based on shariah laws. This paper aims to identify the antecedents of Islamic Corporate Governance based on the subjective approach behind taking the interviews of experts from the field. The study found the most important drivers of Islamic corporate governance are Structure, Independence, Heterogeneity, Monitoring, Shareholder Activism and Disclosure. The theoretical contribution of the study is that the study found multiple significant antecedents behind Islamic corporate governance adoption in organisations. The practical implication of the study is that identification of Islamic corporate governance practices may now be easy to evaluate.