The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council

This study empirically examines the impact of effectiveness of both corporate boards and audit committee on foreign ownership in selected non-financial listed companies of the stock markets in Gulf Cooperation Council (GCC) countries.Contrary to previous studies, this study enters the firm size, lev...

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Main Authors: Al-shamahi, Mohammed Gubran, Abdul Manaf, Kamarul Bahrain, Al-arussi, Ali Saleh
Format: Article
Language:English
Published: Macrothink Institute 2017
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Online Access:http://repo.uum.edu.my/23650/1/AJFA%209%202%202017%20190%20205.pdf
http://repo.uum.edu.my/23650/
http://doi.org/10.5296/ajfa.v9i2.12152
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Institution: Universiti Utara Malaysia
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spelling my.uum.repo.236502018-03-15T01:35:03Z http://repo.uum.edu.my/23650/ The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council Al-shamahi, Mohammed Gubran Abdul Manaf, Kamarul Bahrain Al-arussi, Ali Saleh HF5601 Accounting This study empirically examines the impact of effectiveness of both corporate boards and audit committee on foreign ownership in selected non-financial listed companies of the stock markets in Gulf Cooperation Council (GCC) countries.Contrary to previous studies, this study enters the firm size, leverage, exchange rate risks, inflation risks and economic growth as control variables. For the first time, it also includes the political risks’ variable as a control variable that may affect foreign ownership.In term of panel data regression analysis, the study was built on fixed effect model and conducted to the period of 2012-2015 for 143 non-financial listed companies on the GCC stock markets.Our results explain that foreign ownership is positively related to the effectiveness of both the boards of directors and the audit committees. Political risks and firm size are positively significant with foreign ownership, while the leverage is negatively related to foreign ownership.The implication of this study may help beneficiaries in making better policy decisions and provide guidance for corporate managers on the needs of foreign investors. Macrothink Institute 2017 Article PeerReviewed application/pdf en http://repo.uum.edu.my/23650/1/AJFA%209%202%202017%20190%20205.pdf Al-shamahi, Mohammed Gubran and Abdul Manaf, Kamarul Bahrain and Al-arussi, Ali Saleh (2017) The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council. Asian Journal of Finance & Accounting, 9 (2). pp. 190-205. ISSN 1946-052X http://doi.org/10.5296/ajfa.v9i2.12152 doi:10.5296/ajfa.v9i2.12152
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HF5601 Accounting
spellingShingle HF5601 Accounting
Al-shamahi, Mohammed Gubran
Abdul Manaf, Kamarul Bahrain
Al-arussi, Ali Saleh
The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council
description This study empirically examines the impact of effectiveness of both corporate boards and audit committee on foreign ownership in selected non-financial listed companies of the stock markets in Gulf Cooperation Council (GCC) countries.Contrary to previous studies, this study enters the firm size, leverage, exchange rate risks, inflation risks and economic growth as control variables. For the first time, it also includes the political risks’ variable as a control variable that may affect foreign ownership.In term of panel data regression analysis, the study was built on fixed effect model and conducted to the period of 2012-2015 for 143 non-financial listed companies on the GCC stock markets.Our results explain that foreign ownership is positively related to the effectiveness of both the boards of directors and the audit committees. Political risks and firm size are positively significant with foreign ownership, while the leverage is negatively related to foreign ownership.The implication of this study may help beneficiaries in making better policy decisions and provide guidance for corporate managers on the needs of foreign investors.
format Article
author Al-shamahi, Mohammed Gubran
Abdul Manaf, Kamarul Bahrain
Al-arussi, Ali Saleh
author_facet Al-shamahi, Mohammed Gubran
Abdul Manaf, Kamarul Bahrain
Al-arussi, Ali Saleh
author_sort Al-shamahi, Mohammed Gubran
title The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council
title_short The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council
title_full The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council
title_fullStr The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council
title_full_unstemmed The Impact of Effective Corporate Boards and Audit Committees on Attracting Foreign Ownership in Listed Companies in the Gulf Cooperation Council
title_sort impact of effective corporate boards and audit committees on attracting foreign ownership in listed companies in the gulf cooperation council
publisher Macrothink Institute
publishDate 2017
url http://repo.uum.edu.my/23650/1/AJFA%209%202%202017%20190%20205.pdf
http://repo.uum.edu.my/23650/
http://doi.org/10.5296/ajfa.v9i2.12152
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