Corporate Governance Practices in Saudi Arabia

The concern of corporate governance system has been driven in recent years primarily as a result of a series of corporate scandals and failures in a number of countries. This concern is to protect not only shareholders but stakeholders as well. Investors believe that better corporate governance will...

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Main Author:	Al-Amri, Saeed Mahyoub Mohamed
Format:	Thesis
Language:	eng
Published:	2008
Subjects:	HD2709-2930.7 Corporations
Online Access:	https://etd.uum.edu.my/3636/1/s86426.pdf
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id	my-uum-etd.3636
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng
advisor	Abdul Manaf, Nor Aziah
topic	HD2709-2930.7 Corporations
spellingShingle	HD2709-2930.7 Corporations Al-Amri, Saeed Mahyoub Mohamed Corporate Governance Practices in Saudi Arabia
description	The concern of corporate governance system has been driven in recent years primarily as a result of a series of corporate scandals and failures in a number of countries. This concern is to protect not only shareholders but stakeholders as well. Investors believe that better corporate governance will bring them higher rewards and they are more confident and consider that a company which implements corporate governance is a safe place to provide them with an appropriate return on their invested capital. In addition, creditors will trust that their rights are protected. In the Middle East there is a great concern to attract as large amounts as possible of domestic and international investments, and in order to achieve this aim, corporate governance system should be adopted. This study aims to examine the current developments of corporate governance in one country of the Middle East which is Saudi Arabia comparing it is with international corporate governance principles of best practice such as the OECD principles. The study used primary data which was a questionnaire distributed to 100 listed companies in Saudi Arabia. To fulfill the objectives of the study, six important factors of corporate governance were employed as the measures, namely, board of directors, duality of CEO and chairman, audit committee, internal auditing, risk management and disclosure and transparency. The results generally showed that corporate governance practices do to some Extents exist in this country. However; some aspects of corporate governance are implemented to a higher degree while some other aspects are practiced at a lower degree. Furthermore, there is a difference of implementation of corporate governance principles between the companies and generally, Saudi companies look better in terms of corporate governance practices.
format	Thesis
qualification_name	masters
qualification_level	Master's degree
author	Al-Amri, Saeed Mahyoub Mohamed
author_facet	Al-Amri, Saeed Mahyoub Mohamed
author_sort	Al-Amri, Saeed Mahyoub Mohamed
title	Corporate Governance Practices in Saudi Arabia
title_short	Corporate Governance Practices in Saudi Arabia
title_full	Corporate Governance Practices in Saudi Arabia
title_fullStr	Corporate Governance Practices in Saudi Arabia
title_full_unstemmed	Corporate Governance Practices in Saudi Arabia
title_sort	corporate governance practices in saudi arabia
granting_institution	Universiti Utara Malaysia
granting_department	College of Business (COB)
publishDate	2008
url	https://etd.uum.edu.my/3636/1/s86426.pdf
_version_	1747827616738443264
spelling	my-uum-etd.36362013-11-13T07:15:01Z Corporate Governance Practices in Saudi Arabia 2008 Al-Amri, Saeed Mahyoub Mohamed Abdul Manaf, Nor Aziah College of Business (COB) College of Business HD2709-2930.7 Corporations The concern of corporate governance system has been driven in recent years primarily as a result of a series of corporate scandals and failures in a number of countries. This concern is to protect not only shareholders but stakeholders as well. Investors believe that better corporate governance will bring them higher rewards and they are more confident and consider that a company which implements corporate governance is a safe place to provide them with an appropriate return on their invested capital. In addition, creditors will trust that their rights are protected. In the Middle East there is a great concern to attract as large amounts as possible of domestic and international investments, and in order to achieve this aim, corporate governance system should be adopted. This study aims to examine the current developments of corporate governance in one country of the Middle East which is Saudi Arabia comparing it is with international corporate governance principles of best practice such as the OECD principles. The study used primary data which was a questionnaire distributed to 100 listed companies in Saudi Arabia. To fulfill the objectives of the study, six important factors of corporate governance were employed as the measures, namely, board of directors, duality of CEO and chairman, audit committee, internal auditing, risk management and disclosure and transparency. The results generally showed that corporate governance practices do to some Extents exist in this country. However; some aspects of corporate governance are implemented to a higher degree while some other aspects are practiced at a lower degree. Furthermore, there is a difference of implementation of corporate governance principles between the companies and generally, Saudi companies look better in terms of corporate governance practices. 2008 Thesis https://etd.uum.edu.my/3636/ https://etd.uum.edu.my/3636/1/s86426.pdf text eng validuser http://lintas.uum.edu.my:8080/elmu/index.jsp?module=webopac-l&action=fullDisplayRetriever.jsp&szMaterialNo=0000330747 masters masters Universiti Utara Malaysia Al-hawawi, S. (2003). The level of disclosure in Saudi‘s Joint Stock Companies. Paper presented at the tenth conference on the ways of developing accounting, corporate governance. Aiqaseem—Saudi Arab Almotairy, O. (2004). Towards Better Disclosure and Transparency in Saudi Firms: Overview. 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Corporate Governance in China: Current Practices, Economic Effects, and Institutional Determinant’ Correspondence Address School of Economics and Finance Makhija, M., Peng, M. W., Barney, J. B., & Shenkar, O. (2006). Corporate Governance across Institutional Contexts. Paper presented at the Presented in Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy in the Graduate, School of The Ohio State University McKinsey. (2000). Investors Opinion Survey on Corporate Governance. London: McKinsey & Co Mihyani, M. K. (2007). Corporate governance and its importance in attracting investment and human resource development. Prepared within the scientific activities of the Assembly of Chartered Certified Accountants Syrians. Damascus University Miteva, E. (2005). Improving Corporate Governance in the Middle East and North Africa: MENA and OECD’s Initiative on Governance for Investment and Development. 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Corporate Governance Practices in Saudi Arabia

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