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Corporate governance and capital market development in the GCC: a comparative literature review

Mohamed A. Elhabib

Journal of Capital Markets Studies2024https://doi.org/10.1108/jcms-06-2024-0027article
AJG 1
Weight
0.76

What the paper says

Purpose This review provides a detailed analysis of corporate governance practices across Gulf Cooperation Council (GCC) countries, focusing on board characteristics, executive remuneration, capital markets and the integration of ethical and sustainable practices. It evaluates how these governance frameworks influence market performance, investor confidence and corporate sustainability within the region. Design/methodology/approach The study synthesizes findings from 15 recent research studies, examining corporate governance mechanisms, board composition, executive compensation policies and their impact on market capitalization. The data were collected from major academic databases, including Google Scholar, Springer, Web of Science and Scopus. Findings The analysis exhibits both similarities and differences in corporate governance frameworks across GCC countries. Important findings include a universal mandate for the separation of chief executive officer (CEO) and chairman roles, varied board composition requirements and differing executive remuneration and transparency policies. Saudi Arabia and the United Arab Emirates (UAE) lead in market capitalization, reflecting advanced governance practices, though disparities exist among GCC countries. The review also notes the increasing alignment of corporate governance with corporate social responsibility (CSR) principles, especially in sustainability reporting and ethical practices, highlighting a growing commitment to long-term value creation. Originality/value This review uniquely synthesizes recent research on GCC corporate governance, offering insights on board structures, executive pay and market dynamics with a focus on ethical and sustainable practices. It provides valuable perspectives for stakeholders, policymakers and academics interested in enhancing governance frameworks in the region while contributing to the global discourse on aligning corporate governance with sustainability standards.

15 citations

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https://doi.org/https://doi.org/10.1108/jcms-06-2024-0027

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@article{mohamed2024,
  title        = {{Corporate governance and capital market development in the GCC: a comparative literature review}},
  author       = {Mohamed A. Elhabib},
  journal      = {Journal of Capital Markets Studies},
  year         = {2024},
  doi          = {https://doi.org/https://doi.org/10.1108/jcms-06-2024-0027},
}

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Corporate governance and capital market development in the GCC: a comparative literature review

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Evidence weight

0.76

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact1.00 × 0.4 = 0.40
M · momentum0.88 × 0.15 = 0.13
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.