| dc.description.abstract | This study aimed at examining corporate governance practices in commercial banks in reference to Stanbic bank Uganda. the study premised on three objectives; to establish the nature of corporate governance principles at Stanbic bank Uganda Ltd, to assess the challenges to corporate governance practices at Stanbic bank Uganda Ltd and to design appropriate strategies that will minimize challenges of corporate governance practices at Stanbic bank Uganda Ltd. The study employed a cross-sectional and descriptive research with a quantitative study approach which involved collecting numerical data from 163 respondents out of a sample of 169 Stanbic bank staff, using a survey questionnaire. Data were analyzed using the statistical package for social science (SSPS Version 23). On the nature of corporate governance principles, the study identified there is a big proportion of independent directors on the board of directors, board of directors frequently meet to discuss the organizations issues, transparency is a key practice by management of the institution, there is equitable treatment of all stakeholders, and there is clear flow of information amongst staff, customers and the board members indicated. Among the challenges, study discovered through a questionnaire survey, that corporate laws, stock market rules and regulations not effective, shareholders don’t have the same rights to elect/remove members of the board, there is unequal access to information for all shareholders, there is inefficient and lack of transparency in the appointment process of the board members and that respondents disagreed that here is inadequate communication between executive and non-executive board members. And on the strategies to improve CG practices, the study found the responsibilities of the board, committees, and staff need to be clearly defined, there should be credible mechanisms of rewards or penalties to performance shall be put in place, there is need for proper communication channels and systems adopted, selected board members must possess the skills and experiences required and finally a comprehensive monitoring program has to be strengthened in order to minimize challenges of corporate governance in commercial banks. Therefore, the study recommended that the responsibilities of the board, committees, and staff need to be clearly defined, that commercial banks should put up in place credible mechanisms of rewards or penalties, these will help to reinforce a desired behavior in an organization, that commercial banks set up proper communication channels and systems, these will help grow the organization more rapidly and retain employees. The study recommended that commercial should up systems such that selected board members possess the skills and experiences required and the study recommended that a comprehensive monitoring program should be strengthened in commercial ban. | en_US |
