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Governance Structures and Bank Performance: An Empirical Study of Commercial Banks In Uganda

This quantitative correlational study is devoted to three internal governance structures and one external governance structure that influence commercial banks’ performance. The paper focuses on the relationship between board composition, board size, audit committee independence, and capital adequacy ratio and commercial banks’ performance in Uganda. The data was analyzed using partial correlation analysis statistical technique after controlling for bank size and leverage. Based on survey data collected from the commercial banks in Uganda, the study results revealed that board composition, board size, and capital adequacy ratio are positively associated with bank performance in Uganda. In contrast, audit committee independence is negatively associated with commercial banks' performance in Uganda. However, the study yielded only two bank governance structures that have a statistically significant positive relationship with commercial banks’ performance in Uganda. These governance structures are the internal governance structures of board composition and board size. The author recommends that the Bank of Uganda as the regulator and supervisor of banks and financial institutions in Uganda, should ensure that the governance structures discussed in this paper are strictly adhered to. This arrangement will ensure more effective internal and external governance structures, thereby enhancing bank performance in Uganda.