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The relationship among Board, CEO and Chair has attracted much attention in recent years due to the growing need for effective corporate governance. The objective of this paper is to analyze the Board-CEO-Chair relationship. After reviewing previous literature, we tried to integrate them to address the knowledge gap. There are a handful studies done on Board-CEO relationship, these are primarily focused on specific geographic areas. A fewer research work has been done on CEO-Chair relationship. Most importantly, the research work on the combined relationship of Board-CEO-Chair is even less. Hence, there is a greater need for research work in this area.Our finding suggests that there should be mutual respect between CEO and Chair and both have to be honest and transparent to each other. Both Chair and CEO should be able to communicate at ease with each other regarding any trivial matters concerning the company. The relationship between Board and CEO should be complementary rather than competing. The role of the Board and the CEO should be based on mutual trust, they should work as a team. Understanding how Board, CEO and Chair add value to the corporations is an important topic for regulators, academics and practitioners. This paper represents a first step in understanding how Board-CEO-Chair work as a team. We can greatly benefit from this research by understanding the type of relationship and how they vary in different cultural context and geographic locations. Our study also opens up new avenues for research on Board-CEO-Chair combined relationship.

This paper examined the cost structures of 216 MFIs in Bangladesh with a view to determine whether the country’s MFI’s will be able to achieve financial sustainability given the newly introduced interest rate cap. We measured financial sustainability through Return on Assets (ROA) and Operational Self Sufficiency (OSS). The results suggest that there are two key factors that are significantly related to financial sustainability: interest rate spread and general administrative costs. We conclude that MFIs that have lower proportions of administrative costs and a large interest rate spread are more likely to achieve financial sustainability even with the newly introduced interest cap.