The reflection of corporate governance mechanisms on the strategic financial performance by applying to a sample of Iraqi private banks

Abstract

  The term governance expresses the method of practicing rational management, as under which economic units are managed and their work is controlled and monitored to ensure the achievement of the established objectives. Raising and improving the performance of Iraqi banks to carry out their basic functions is among the main urgent issues that Iraq must address, in order to meet the challenges of globalization and encourage the growth of the production sector, as extensive reforms are required aimed at directing resources to the best companies and investment projects, and contributing to ensuring the use The efficiency of these resources. Institutional, regional and global crises have become one of the most important challenges facing business organizations, and threatened and still threaten many economic entities, large and small, and governance as a means that aims to maximize the performance of institutions, and put in place systems to avoid or reduce fraud, conflict of interests and unacceptable behavior. Financially, administratively and morally, that the good application of the principles of Governance, if implemented properly, will represent the tool that is provided to all individuals, institutions and societies to raise the level of performance, reduce risks, stimulate performance and raise the requirements of local growth. This led to the establishment of a modern banking system that deals with new foundations with various economic sectors, in light of the fact that banks remain The main channel necessary for the transfer of funds between different sectors in a manner that allows maximizing the benefit.