NAŠE GOSPODARSTVO / 
OUR ECONOMY

Nationality Diversity of Bank Boards

Miroslav Nedelchev

Abstract


The aim of this paper is to carry out a comparative study for nationality
diversity in bank boards. The study covers practices of board diversity of nine
commercial banks. The data are compared for subsidiary banks in Bulgaria and
their parent banks from the home country. The study defines a high degree of
nationality diversity in subsidiary banks. The Bulgarian banks have a higher
number of foreign members on boards compared to their parent banks. The
good practices on board diversity in Bulgarian banks are a consequence of
their subordination in European financial conglomerates and are aimed to
reduce agent conflicts.


Keywords


corporate governance, subsidiary banks, Bulgaria, comparative study

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