Unlocking financial peaks: board and audit roles in the GCC

Hajer Jarrar, Charbel Salloum (), Adel Alam and Mohamad Baker Hamieh
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Hajer Jarrar: USEK - Université Saint-Esprit de Kaslik
Charbel Salloum: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Adel Alam: USJ - Université Saint-Joseph de Beyrouth
Mohamad Baker Hamieh: LIU - Lebanese International University

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Abstract: This research explores the intricate relationship between the board of directors and audit committees, and the subsequent financial performances of companies listed within the Gulf Cooperation Council (GCC). The study unveils a pivotal correlation between the characteristics of a companys board of directors and its financial prosperity. A noteworthy finding is the negative correlation between board size and financial performance, while board independence is positively associated with financial outcomes. Furthermore, the investigation sheds light on a complex interaction between audit committees and boards of directors. Enhanced board independence positively impacts the dimensions of audit committees, whereas an increased board size appears to diminish audit committee autonomy. Additionally, the research emphasises the critical role of audit committee composition in financial performance, revealing that an audit committee with greater autonomy is congruent with enhanced financial results. This study not only contributes to the existing body of knowledge regarding corporate governance and financial performance but also provides practical insights for GCC-listed companies in structuring their boards and audit committees to optimise financial performance.

Keywords: Board of directors; Audit committees; GCC-listed companies; Financial performance (search for similar items in EconPapers)
Date: 2025
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Published in International Journal of Managerial and Financial Accounting, In press, ⟨10.1504/ijmfa.2026.10066465⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04981562

DOI: 10.1504/ijmfa.2026.10066465

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