The Factors Ensuring the Openness of Corporate Governance and Information Transparency in the Banking System

In today’s world, corporate governance principles are receiving increasing attention, especially in the post-crisis period after the collapse of many companies and financial markets. In Georgia, the conception of corporate governance is applied across various businesses, particularly in the banking system; however, it still requires methodical and systematic improvement. The research is based on a sample of five well-known commercial banks in Georgia, through which the employees’ perspectives on the relationship between five corporate governance variables (accountability, transparency, fairness, discipline, and responsibility) and perceived banking performance were studied. The specific objective of the study was as follows: to assess corporate governance practices in the selected commercial banks, examine perceptions of performance effectiveness, and analyze the impact of corporate governance on perceived outcomes. The analysis of the results showed that corporate governance has a significant impact on the organizational success of companies. Specifically, it is found that accountability, transparency, fairness, discipline, and responsibility play important roles in ensuring the success of commercial banks in the country. According to the study, these five variables significantly contribute to the formation of efficient corporate governance in Georgian commercial banks. The scientific novelty of the work lies in identifying the challenges and prospects of corporate governance in Georgia’s banking sector. The practical significance of the study is that the authors’ conclusions and recommendations may help improve corporate governance in the country’s banking sector.