The Effect of Board Attributes on the Financial Performance of Commercial Banks: Evidence from Tanzania
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This study examines the effect of board attributes on the financial performance of commercial banks in Tanzania, focusing on board meeting frequency, board size, and board gender diversity. Employing an explanatory research design, secondary data were extracted from the annual financial and corporate governance reports of Tanzanian commercial banks over the period 2018 to 2024. Panel data regression analysis was utilised to evaluate the relationships between the governance variables and financial performance, measured by return on assets. The findings reveal that board meeting frequency and board size exert no statistically significant effect on financial performance. Conversely, board gender diversity demonstrates a significant positive effect, indicating that greater female representation on boards enhances bank profitability. These results contribute empirical evidence to corporate governance literature within sub-Saharan Africa and suggest that policymakers and regulators should prioritise gender-inclusive board composition to foster sustainable financial performance in the banking sector.