Unlocking the nexus among good governance, operational performance, and financial performance of fish business in Bangladesh

Given the intricate and dynamic nature of Bangladesh's fish industry, this study delves into how good governance influences financial performance with a mediator role of operational performance. To achieve this, primary data were collected from 700 stakeholders across seven administrative divisions using a combination of snowball and stratified random sampling techniques, administered through a structured interview schedule and face-to-face interviews. For analyzing the data, a Perception Score Index (PSI), Relative Importance Index (RII), and Partial Least Squares Structural Equation Modeling (PLS-SEM) were used along with descriptive statistics of sociodemographic characteristics. The study reveals that 46.08 % of stakeholders are young, most are formally educated, the majority avoid contract-based transactions, and over half lack access to smartphones. The PSI highlights significant scope for improvement in good governance elements, particularly accountability. In this regard, RII notably pinpoints the fish quality as playing a pivotal role. The PLS-SEM reveals significant positive associations between financial performance and accountability, transparency, traceability, operational performance, education, contract business, and smartphone access. Drawing on these insights, the study advocates strengthening accountability, enhancing fiscal transparency, and improving operational performance. Besides, promoting the involvement of young and educated individuals in fish business, facilitating smartphone access, and encouraging participation in contract-based arrangements are recommended to foster sustainable financial performance in the sector.