Recent Developments in Corporate Governance Codes in the GCC Region

Mohammed Haitham A. Salman and Haitham Nobanee

Research in World Economy, 2019, vol. 10, issue 3, 108-126

Abstract: This paper aims to examine recent developments in corporate governance codes in the Gulf Cooperation Council (GCC) region and evaluate to what extent these changes are in line with the G20/OECD Principles of Corporate Governance 2015 Edition. The paper employed an analytical comparative approach, the results show all GCC countries, except Bahrain, have recently updated their CG codes. Bahrain needs to update its current CG code in terms of the rights of both shareholders and stakeholders to be in line with international best practice. Efforts in the GCC region to enhance CG in listed companies should be continued and expanded to cover state-owned enterprises, sovereign wealth funds, and banks. The findings would be useful to the financial managers in the GCC in complying with the recent developments in corporate governance codes and in developing guidelines for appropriate disclosure to improve the reporting quality.

Keywords: corporate governance; GCC Region; shareholder rights and obligations; GCC States; G20/OECD principles of corporate governance; companies law; corporate governance code (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:rwe111:v:10:y:2019:i:3:p:108-126

DOI: 10.5430/rwe.v10n3p108

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