Developing a Corporate Governance Model Considering the Role of the Board of Directors in State Banks

The purpose of this study is to develop a model for identifying corporate governance principles regarding the role of the board of directors in state-owned banks. The nature of this exploratory research with an inductive approach and its philosophy is an interpretation with a developmental direction that for this purpose, the qualitative method of Grounded Theory was used. Therefore, the target population was the professors familiar with corporate governance in the areas of finance, economics and management. Also, a combination of purposeful judgment and snowball method were used to select the sample. The research data were collected from semi-structured interviews with twelve university professors. As a result, analysis of research data through open, axial, and selective coding method was extracted from that, the role of board as causal conditions and board structure as central phenomenon and board characteristics as contextual and confounding factors and finally accountability as outcome and output.