Ineffective corporate governance is a leading cause of financial crises. Ineffectual corporate governance is mainly due to the lack of prudential and efficient supervision, which is symptomatic of board composition and the selection criteria of board members. The purpose of this single case study was to explore the strategies that banking leaders used to identify board selection criteria that ensures effective governance. The sample consisted of 4 business leaders at a bank located in California that remained profitable and did not have losses during the recent recession. The conceptual framework used for the study was agency theory. The data sources were publicly available archival documents, semistructured interviews, member checking, and extant literature on the topic. Using methodological triangulation, 4 themes emerged from data analysis: select independent, experienced, and knowledgeable business leaders as board members; recognize the importance of the choice of the CEO and other senior executives; acknowledge cooperation is key to sustainable growth; and promote integrity and ethics as key executive and board membership criteria. The application of the findings in this study may contribute to social change when banks operate under effective governance that can lead to improved well-being for all corporate stakeholders, including investors, employees, customers, and the bank's community, through the continued employment and the economic stability of the community.
| Identifer | oai:union.ndltd.org:waldenu.edu/oai:scholarworks.waldenu.edu:dissertations-5419 |
| Date | 01 January 2017 |
| Creators | Ojo, Oladayo |
| Publisher | ScholarWorks |
| Source Sets | Walden University |
| Language | English |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | Walden Dissertations and Doctoral Studies |
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