Corporate governance of the Saudi Arabian publicly traded companies: An appraisal and proposals for improvement
General Material Designation
[Thesis]
First Statement of Responsibility
Bandar Obeid Alrasheed
Subsequent Statement of Responsibility
Branson, Douglas M.
.PUBLICATION, DISTRIBUTION, ETC
Name of Publisher, Distributor, etc.
University of Pittsburgh
Date of Publication, Distribution, etc.
2014
PHYSICAL DESCRIPTION
Specific Material Designation and Extent of Item
408
GENERAL NOTES
Text of Note
Committee members: Berkowitz, Daniel; Del Duca, Louis; Oh, Peter B.
NOTES PERTAINING TO PUBLICATION, DISTRIBUTION, ETC.
Text of Note
Place of publication: United States, Ann Arbor; ISBN=978-1-321-20836-8
DISSERTATION (THESIS) NOTE
Dissertation or thesis details and type of degree
S.J.D.
Discipline of degree
Law
Body granting the degree
University of Pittsburgh
Text preceding or following the note
2014
SUMMARY OR ABSTRACT
Text of Note
Changes in economic and business practices around the globe and the rapid reform movement in developing counties require a sound corporate governance structure to be implemented in Saudi Arabia. A winning reform agenda has to take national factors into consideration. Agency problem types (controlling shareholder v. minority shareholders) and a weak external enforcement mechanism (especially judiciary) in the Saudi system suggest that immediate reform of corporate governance should focus on internal corporate governance, namely shareholder position including minority shareholders protection and the board of directors. Such a strategy of reform does not intend to undermine the importance of administrative and judicial reforms to corporate governance efficiency in the country, but rather offers fast-track reform proposals that may boost the corporate governance system until a full development of strong external structure in the country is established. Well-structured internal corporate governance is expected to comply with a number of comparative benchmarks that may reduce agency cost problem and observe the Saudi moral systems, particularly ones related to Islam. Linking corporate governance to the country's moral system will more likely facilitate legal transplant of corporate governance standards into the Saudi system. Overall, the adoption of the proposals recommended in this dissertation is imperative to achieving the goals of improving corporate governance in Saudi Arabia and attracting greater investment in the country's capital market.
TOPICAL NAME USED AS SUBJECT
Law; Islamic Studies; Middle Eastern Studies
UNCONTROLLED SUBJECT TERMS
Subject Term
Social sciences;Agency problems;Corporate governance;Directors;Enforcement mechanism;Saudi Arabia;Shareholders