An Evaluation Of The Current Rules And Regulatory Framework Of Corporate Governance In Saudi Arabia

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An Evaluation Of The Current Rules And Regulatory Framework Of Corporate Governance In Saudi Arabia

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Author : Abdullah Alshowish
language : en
Publisher:
Release Date : 2016

An Evaluation Of The Current Rules And Regulatory Framework Of Corporate Governance In Saudi Arabia written by Abdullah Alshowish and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.

Toward New Corporate Governance Standards In The Kingdom Of Saudi Arabia Lessons From Delaware

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Author : Meshal Faraj
language : en
Publisher: SABIC Chair for IFMS
Release Date : 2016-02-14

Toward New Corporate Governance Standards In The Kingdom Of Saudi Arabia Lessons From Delaware written by Meshal Faraj and has been published by SABIC Chair for IFMS this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-14 with categories.

There is currently a debate in the Kingdom of Saudi Arabia is over how directors of publicly held companies can be held accountable. Before addressing this question, we should determine when it is that a director violates her or his duties. This study seeks to bring focus to the accountability system in Saudi Arabia. It investigates a legal defect in that system: the Saudi Companies Law incorporates standards of conduct but lacks standards of review. This study argues that although directors’ duties have been formulated so that there are areas left to be developed by courts, Saudi judges do not retain residual lawmaking powers which they could use to fill a regulatory vacuum. It builds upon empirical evidence to prove the underlying reasons that the context has changed, which ultimately has created the need to reform the Saudi fiduciary duties system. New cases in Saudi Arabia evoke some of the contours of Delaware corporate law. New cases have triggered standards of conduct violations that might be identical to fiduciary violations in Delaware. Therefore, this study proposes to transplant Delaware standards of review to Saudi Arabia. It argues that the contextual change in Saudi Arabia after the establishment of the Capital Market Authority would make this transplant more significant. Closer analysis suggests that both systems are consensus on the shareholder primacy model. This convergence on the shareholder model inevitably ensures a functional convergence in the long run.

Corporate Governance Country Assessment

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Author : World Bank
language : en
Publisher:
Release Date : 2009

Corporate Governance Country Assessment written by World Bank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.

Good corporate governance ensures that companies use their resources more efficiently, protects minority shareholders, leads to better decision making, and improves relations with workers, creditors, and other stakeholders. It is an important prerequisite for attracting the patient capital needed for sustained long-term economic growth. This report provides an assessment of the Kingdom of Saudi Arabia (KSA) corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in KSA. The corporate governance laws, regulations, and institutions that have been put in place generally reflect international good practice. In the wake of the market correction of 2006, market regulators focused on the need for better corporate governance via legal and institutional reforms. These included passing a Corporate Governance Regulation (CGR) for listed companies (2006), and further strengthening the supervisory functions across the financial sector. However, many of the laws and institutions are still relatively new and untested; awareness of the importance of good corporate governance is low, and implementation by companies in its early stages.

Corporate Governance Country Assessment

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Author : Weltbank
language : en
Publisher:
Release Date : 2009

Corporate Governance Country Assessment written by Weltbank and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.

Good corporate governance ensures that companies use their resources more efficiently, protects minority shareholders, leads to better decision making, and improves relations with workers, creditors, and other stakeholders. It is an important prerequisite for attracting the patient capital needed for sustained long-term economic growth. This report provides an assessment of the Kingdom of Saudi Arabia (KSA) corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in KSA. The corporate governance laws, regulations, and institutions that have been put in place generally reflect international good practice. In the wake of the market correction of 2006, market regulators focused on the need for better corporate governance via legal and institutional reforms. These included passing a Corporate Governance Regulation (CGR) for listed companies (2006), and further strengthening the supervisory functions across the financial sector. However, many of the laws and institutions are still relatively new and untested; awareness of the importance of good corporate governance is low, and implementation by companies in its early stages.

A Conceptual Framework For Reforming The Corporate Governance Of Saudi Publicly Held Companies A Comparative And Analytical Study From A Legal Perspective

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Author : Dr. Fahad M. Al-Majed
language : en
Publisher: SABIC Chair for IFMS
Release Date :

A Conceptual Framework For Reforming The Corporate Governance Of Saudi Publicly Held Companies A Comparative And Analytical Study From A Legal Perspective written by Dr. Fahad M. Al-Majed and has been published by SABIC Chair for IFMS this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Current Practices Of Saudi Corporate Governance

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Author : Faleh Salem B. Al Kahtani
language : en
Publisher:
Release Date : 2013

Current Practices Of Saudi Corporate Governance written by Faleh Salem B. Al Kahtani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.

One of the most debated issues is that of corporate governance. The topic has been investigated by scholars from several scientific fields including the legal. Indeed, corporate governance has been examined by a great number of law scholars, with particular regards to the improvement of various aspects. For example, effective corporate governance focuses on protecting and advancing aspects related to shareholders' rights, the board of directors and corporations' internal and external audit systems. The main objective of this research is to suggest reformation to the Saudi corporate governance framework in order to achieve satisfactory corporate governance practices. The second purpose of the research is to investigate the current practices involved in Saudi corporate governance arrangements. The final aim is to determine how a Saudi corporate governance framework would most benefit corporate governance from the Islamic perspective. This study intends to provide a regulatory analysis to influence those regulations that should be implemented to adjust corporate governance practices as they affect the Saudi capital market. The researcher found that Saudi corporate governance has been promulgated in accordance with principles of on-going international corporate governance. Alternatively, the Islamic perspective on corporate governance has been debated more recently, as an idea that needs to be progressed in order to provide associated benefits to the corporate governance framework in Saudi Arabia. Therefore, Saudi corporate governance provisions can be seen as based largely on positive man-made laws. The researcher further discovered that Saudi corporate governance as an institutional framework is divided between several institutions, whether internal or external, which might result in some ambiguity when it comes to implementing good corporate governance practices. However, the research results revealed that Saudi corporate governance provisions have to be reformed in accordance with popular worldwide corporate governance principles, namely the UK Corporate Governance Code, the UK Companies Act and the OECD principles of corporate governance produced.

Corporate Governance Around The World

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Author : Ahmed Naciri
language : en
Publisher: Routledge
Release Date : 2008-02-14

Corporate Governance Around The World written by Ahmed Naciri and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-02-14 with Business & Economics categories.

The last Asian financial crisis, coupled with the western series of corporate scandals, has caused investors and citizens to doubt mangers ability to guarantee credible financial information about organizations. Consequently, legislators all over the world have come to realise the necessity of legislating in the area of corporate governance.

Oecd Principles Of Corporate Governance

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 1999-10-06

Oecd Principles Of Corporate Governance written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-10-06 with categories.

These principles of corporate governance, endorsed by the OECD Council at Ministerial level in 1999, provide guidelines and standards to insure inclusion, accountability and abilit to attract capital.

Corporate Governance Of Listed Companies In China Self Assessment By The China Securities Regulatory Commission

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2011-09-22

Corporate Governance Of Listed Companies In China Self Assessment By The China Securities Regulatory Commission written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-22 with categories.

By assessing a broad range of laws, regulations and codes, this book provides a valuable reference for understanding how much has been achieved in Chinese corporate governance and the main ambitions of future reform efforts.

Comparative Corporate Governance

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Author : Andreas M. Fleckner
language : en
Publisher: Cambridge University Press
Release Date : 2013-07-11

Comparative Corporate Governance written by Andreas M. Fleckner and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-11 with Law categories.

The business corporation is one of the greatest organizational inventions, but it creates risks both for shareholders and for third parties. To mitigate these risks, legislators, judges, and corporate lawyers have tried to learn from foreign experiences and adapt their regulatory regimes to them. In the last three decades, this approach has led to a stream of corporate and capital market law reforms unseen before. Corporate governance, the system by which companies are directed and controlled, is today a key topic for legislation, practice, and academia all over the world. Corporate scandals and financial crises have repeatedly highlighted the need to better understand the economic, social, political, and legal determinants of corporate governance in individual countries. Comparative Corporate Governance furthers this goal by bringing together current scholarship in law and economics with the expertise of local corporate governance specialists from twenty-three countries.