Efficiency of the banking governance: shareholder vs. stakeholder approach: application on the Tunisian quoted banks

The aim of this paper is to construct simulations of indexes of the banking governance efficiency. We distinguish the indexes of shareholder governance from the indexes of stakeholder governance. Data are based on a sample of Tunisian quoted banks over the period 2001–2005. Our results prove that the private banks present the best scores of shareholder and stakeholder governance while referring to the accounting performance, whereas the privatised banks show superiority in their shareholder and stakeholder governance on the market. As for the public banks, their governance scores are in the middle level between the two other categories of banks.