Journal of
Accounting and Taxation

  • Abbreviation: J. Account. Taxation
  • Language: English
  • ISSN: 2141-6664
  • DOI: 10.5897/JAT
  • Start Year: 2009
  • Published Articles: 209

Full Length Research Paper

Board structure and firm performance: An empirical study of Greek systemic banks

Michalis Bekiaris
  • Michalis Bekiaris
  • Department of Business Administration, Business School, University of the Aegean, Greece.
  • Google Scholar

  •  Received: 15 January 2021
  •  Accepted: 17 March 2021
  •  Published: 30 April 2021


This paper examines the effect of board characteristics on bank financial performance. Tracing the Greek financial crisis during the period of 2008 to 2018, the paper investigates whether board size, board independence, CEO duality, female directors, and foreign directors affect banks performance. The empirical evidence shows that board structure has a significant effect on bank performance. Specifically, board size, board independence and chairman independence were found to exert a positive effect on bank performance. The effect of diversity on performance was ambiguous, since the effect of female directors was positive; but the effect of foreign directors was negative. These findings can potentially help banks improve performance by considering the features found significant in this study. Moreover, regulators can draw insight from the findings to design rules that strengthen corporate governance effectiveness.


Key words: Bank corporate governance, board characteristics, financial performance, Greek systemic banks.