How do board of directors affect corporate governance disclosure? – the case of banking system

The purpose of our empirical study is to assess the relationship between board of directors’ features and the level of disclosure in case of European Union banking environment, basing on the general statement that disclosure and quality of corporate governance system are two closely related concepts - the higher the level of transparency, the better the quality corporate governance practices. The main features considered for assessing board of directors quality were: independence, size, education, experience and gender of its membership, as well as the frequency of their meetings. The results of the performed analysis, based on correlations and linear regressions using SPSS software, reveal that those banking institutions which have a board mainly made of non-executive directors, with higher-level educational degrees, business knowledge and experience, ensuring regular meetings are more transparent.