File(s) not publicly available
Is there a distinctive MENA model of corporate governance?
journal contribution
posted on 2023-06-08, 05:32 authored by Jenifer Piesse, Roger StrangeRoger Strange, Fahad ToonsiThis study explores the diversity of corporate governance practices in the MENA region, with particular emphasis on Saudi Arabia and Egypt. Interviews with senior managers find that the state, foreign investors and large family groups act as monitors of corporations in both countries, whereas the role of institutional investors and other shareholder activist groups is minimal. Ownership was more concentrated in Egypt than in Saudi Arabia, particularly in family firms. However, control is firmly in the hands of dominant shareholders even when ownership concentration is not high enough to merit such control and boards are dominated by majority shareholders. The high levels of concentrated ownership and control, and the low levels of disclosure and transparency, clearly differentiates the corporate governance system in the region from that in Anglo-American countries while the importance of state and family shareholders reflects characteristics of organisation and control found in many developing countries, predominantly those in Asia. However, it remains premature to speak of a unique MENA model of corporate governance
History
Publication status
- Published
Journal
Journal of Management and GovernanceISSN
1385-3457Publisher
Springer VerlagExternal DOI
Issue
4Volume
16Page range
645-681Department affiliated with
- Business and Management Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2013-02-13Usage metrics
Categories
No categories selectedKeywords
Licence
Exports
RefWorks
BibTeX
Ref. manager
Endnote
DataCite
NLM
DC