A Model for Corporate Governance in Iranian Banks

Abstract

Objective: Regarding the nature of banks in the economy, establishing corporate governance based on a comprehensive and unique model is of particular importance. This study aims to present an indigenous model for Iranian banks and determine and classify its dimensions, components, and indicators. Method: The theoretical foundation and background of this research were reviewed, using the latest domestic and international standards of different banking systems around the world. Then, by collecting them, a basic corporate governance model was formulated in a systematic thinking framework and was examined by 110 experts, using a fuzzy Delphi method. Results: Based on the analysis of the views of experts, the systemic model, and its 19 components and 153 indicators were verified, using a systematic thinking framework within four dimensions of environmental factors, inputs, processes, and goals. The experts' views rejected nine environmental indicators, one process indicator, and seven inputs indicators. Conclusion: The final model in this study, concerning its comprehensiveness and breadth in all dimensions, can provide a criterion for establishing corporate governance in the banks and assessing their status.

Keywords

• corporate governance
• systematic thinking
• banks stakeholders
• accountability