Board Evaluation and Organizational Performance

Abstract

This review critically examines the evolution of board evaluation in corporate governance, focusing on Ghanaian public institutions. It explores the transition from formal procedures to crucial elements enhancing transparency, accountability, and board performance. The main goal was to assess the impact of board evaluation practices on organizational performance. Employing a conceptual literature review methodology, the research systematically explores recent academic literature, professional reports, and case studies, focusing on global and Ghanaian contexts. The findings reveal that board evaluation is underpinned by various theoretical frameworks, including agency theory, resource dependence theory, and stakeholder theory, highlighting global trends towards holistic, inclusive, and technology-driven evaluation practices. In Ghana, specific adaptations address unique challenges like resource constraints and political dynamics. The review demonstrates the positive impact of effective board evaluation on organizational performance and identifies implementation challenges. The study concludes that board evaluation practices are essential for enhancing organizational performance, especially in public institutions, emphasizing the need for context-specific adaptations in Ghana and suggesting continuous exploration of emerging trends in corporate governance.