Thematic analysis of the responsibilities of the board of directors in OECD, BCBS, and IFSB principles

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Abstract

At the center of this ongoing debate is the board of directors’ responsibilities, nevertheless, there are differences and similarities among the principles and guidelines of corporate governance worldwide when it comes to responsibilities of the board of directors. The interest in corporate governance and, specifically, the focus on bank governance have received increased attention from academics and policymakers after the global financial crisis of 2007–2009 (Pathan & Faff, 2013). Given the gap in the literature investigating these differences and similarities, this theoretical article aims to conduct a thematic analysis of the principles and guidelines of the Organisation for Economic Co-operation and Development (OECD), Basel Committee on Banking Supervision (BCBS), and Islamic Financial Services Board (IFSB), on board of directors’ responsibilities. This article provides a reference thematic analysis for policymakers, regulators, and researchers in developing national corporate governance principles and guidelines. The article highlights the shares themes between the principles of OECD, BCBS, and IFSB, and concludes with recommendations for future research in the area of the board of directors’ responsibilities.

Keywords: Regulation, Bank Regulation, Corporate Governance, Principles of Corporate Governance, Board of Directors, Responsibilities

Authors’ individual contribution: Conceptualization — N.Y.A.N.; Investigation — N.Y.A.N.; Writing — Original Draft — N.Y.A.N.; Writing — Review & Editing — N.A.A.R.; Supervision — N.A.A.R.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

Acknowledgements: The Authors gratefully acknowledge the financial support from Applied Science University (ASU), the Kingdom of Bahrain (Approved by University Council Meeting No. 15, Academic Year 2019/2020 on 11th of June 2020).

JEL Classification: G28, G34, G38, G39

Received: 30.10.2021
Accepted: 12.10.2022
Published online: 08.11.2022

How to cite this paper: Naim, N. Y. A., & Rahman, N. A. A. (2022). Thematic analysis of the responsibilities of the board of directors in OECD, BCBS, and IFSB principles [Special issue]. Journal of Governance & Regulation, 11(4), 260–266. https://doi.org/10.22495/jgrv11i4siart6