In the past few years, researchers across the world have been attracted to corporate governance (CG) and sustainability studies in the banking space. However, inconsistencies remain, which have created a lack of alignment in existing research. To address this problem, this paper aims to re-examines the CG–bank sustainability relationship using a qualitative design, which has been underused in the field, to generate in-depth, useful and novel analysis and insights that may hide behind the numbers.
A qualitative inquiry was conducted using key informants in Ghana’s banking industry. This study made use of purposive and snowball sampling techniques, an interview guide and the thematic approach to qualitative data analysis.
Firstly, this research finds that while larger boards do not promote bank sustainability, those who are independent and have diversified expertise and experiences do. Secondly, CEO duality can boost bank sustainability only if the CEO is actively engaged and performing. Thirdly, this study finds that foreign-owned and managed banks make more profits only if they have good knowledge of the local market.
This research makes the call that upcoming researchers should replicate this research in other banking settings worldwide to validate the results.
Practical lessons for local and foreign-owned banks and their shareholders are discussed to advance the United Nations’ Sustainable Development Goal 8.
This research shares novel insights that offer clarity to the literature and move the CG and sustainability fields forward.
