Presence of women on boards in industrial firms: evidence from GCC countries financial markets

2021 ◽  
pp. 1-12
Author(s):  
Reem Hamdan ◽  
Nohade Nasrallah ◽  
Rim El Khoury ◽  
Allam Hamdan ◽  
Bahaaeddin Alareeni
Keyword(s):  
Financial Markets ◽  
Industrial Firms ◽  
Gcc Countries ◽  
Women On Boards

scholarly journals The Role of Political Risk and Financial Development Factors on Sukuk Market Development of Gulf Cooperation Council (GCC) Countries

2018 ◽  
Vol 10 (1) ◽  
pp. 242
Author(s):  
Arafat Mansoor Al-raeai ◽  
Zairy Zainol ◽  
Ahmad Khilmy Abdul Rahim
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Financial Management ◽  
Political Risk ◽  
Gulf Cooperation Council ◽  
Market Development ◽  
Model Framework ◽  
Alternative Source ◽  
Gcc Countries

The literature related to the financial management acknowledges the significant role that political risk play to determine the financial market development. Further, financial system development (banking and financial markets) competes to provide long-term financing, and this competition might be positive or negative for each other. The aim of this paper is to propose a conceptual model/framework for investigating the role of political risk and financial market on Sukuk market development in Gulf Cooperation Council (GCC). GCC economies depend heavily on oil revenues which makes them subject to oil prices fluctuations. Therefore, GCC’s governments should diversify their economies by looking for Sukuk as an alternative source of financing, to cover their budget deficit, when the price of oil decreases, and reduce their reliance on oil, because Sukuk has advantages compared to the conventional bond particularly in terms of less information asymmetry. The prior studies have mostly focused on firms' characteristics determinants of Sukuk issuances but gave a little consideration to the role of country' characteristics on Sukuk market development. This paper proposes a framework to explain the political risk and financial markets determinants of Sukuk market development with a focus on the GCC countries that have the largest region in terms of the Islamic financial assets. It is anticipated that the outcome will support policymakers to improve the current state of Sukuk market.

Women on boards of directors: the moderation role of female labour force participation

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Reem Hamdan ◽  
Allam Hamdan ◽  
Bahaaeddin Alareeni ◽  
Osama F. Atayah ◽  
Layla Faisal Alhalwachi
Keyword(s):  
Firm Size ◽  
Labour Force ◽  
Ownership Concentration ◽  
Firm Level ◽  
Content Type ◽  
Listed Firms ◽  
Gcc Countries ◽  
Women On Boards ◽  
The Relationship

Purpose This study aims to investigate the moderation role of the percentage of women in the country labour force in the relationship between firm-level governance factors (board size, institutional ownership, ownership concentration, board independence, performance, firm size, firm’s risk and sector) and women on boards (WOBs) in publicly listed firms in Gulf Cooperation Council (GCC) countries. Design/methodology/approach The study relied on a sample of 436 publicly listed firms in 2018 in six GCC countries (Bahrain, Kuwait, Saudi Arabia, Oman, Qatar and the United Arab Emirates). Findings The study concluded that the percentage of women in the country’s labour force has a moderation role in the relationship between board size and WOB, as well as firm market performance and WOBs. However, ownership concentration, firm size, firm risk and firm sector do not affect the percentage of WOB; consequently, the percentage of women in the country’s labour force did not have a moderation role in the relationship between these variables and the percentage of WOBs. Originality/value The study incorporates an institutional level variable which is the percentage of women in the country’s labour force in a firm-level relationship mostly understood by agency theory.

Gulf Cooperation Council (GCC) - Economic Prospects and Policy Challenges for the GCC Countries

Policy Papers ◽  
2013 ◽  
Vol 2013 (87) ◽  
Author(s):  
Keyword(s):  
Middle East ◽  
Emerging Markets ◽  
Financial Markets ◽  
Gulf Cooperation Council ◽  
Economic Environment ◽  
Quantitative Easing ◽  
Regional Economic ◽  
Gcc Countries ◽  
Global Growth

The global and regional economic environment remains challenging. Global growth remains tepid, and although some pick-up is expected, risks are tilted to the downside. Recent volatility in financial markets is having a significant impact on some large emerging markets, highlighting the challenges that will be faced in unwinding the Federal Reserve’s quantitative easing policy. Geopolitical uncertainties in the Middle East are also high.

Financial Markets in the GCC Countries

2013 ◽  
pp. 151-167
Author(s):  
Raphael Espinoza ◽  
Ghada Fayad ◽  
Ananthakrishnan Prasad
Keyword(s):  
Financial Markets ◽  
Gcc Countries

scholarly journals The Integration of Financial Markets in GCC Countries

2011 ◽  
Vol 50 (3) ◽  
pp. 209-218 ◽  
Author(s):  
Shabbir Ahmad
Keyword(s):  
Exchange Rate ◽  
Financial Markets ◽  
Unit Root ◽  
Jel Classification ◽  
Unit Root Tests ◽  
Panel Unit Root Tests ◽  
Panel Unit Root ◽  
Gcc Countries ◽  
Interest Parity ◽  
Real Interest Parity

The real interest parity (RIP) condition states that the interest rate differential between two economies is equivalent to the differential between the forward exchange rate and the spot exchange rate. This study examines the integration of financial markets in the GCC countries by verifying the validity of RIP in their economies. Using univariate and different panel unit root tests, we find evidence supporting the RIP theory, which indicates that the financial markets in these countries are well integrated and that the adoption of a common currency would be relatively easy. JEL classification: F21; F36; C23 Keywords: Real Interest Parity, GCC Countries, Panel Unit Root Tests, Monetary Union

The effect of board of directors and audit committee effectiveness on internet financial reporting

2016 ◽  
Vol 6 (4) ◽  
pp. 429-448 ◽  
Author(s):  
Hasan Bin-Ghanem ◽  
Akmalia M. Ariff
Keyword(s):  
Financial Markets ◽  
Board Of Directors ◽  
Financial Reporting ◽  
Audit Committee ◽  
Design Methodology ◽  
Content Type ◽  
Gcc Countries ◽  
Practical Implications ◽  
Disclosure Practice

Purpose The purpose of this paper is to examine the effect of board of directors and audit committee effectiveness on the level of internet financial reporting (IFR) disclosure practices. Design/methodology/approach The sample consists of 152 listed financial companies in Gulf Cooperation Council (GCC) countries. Based on agency theory, the authors posit that board of directors and audit committee effectiveness influence corporate IFR disclosure practice. Content analysis approach, based on an un-weighted index of 35 IFR items is used to measure the level of IFR disclosure. Thus, multiple regression analysis is utilized to analyse the results of this paper. Findings The results show that board of directors and audit committee effectiveness has significant influence on the level of IFR disclosure. Research limitations/implications One potential limitation of this paper is that the sample is drawn only from the GCC listed financial companies. Therefore, the findings cannot be generalized to other than the financial institutions. Practical implications The finding(s) highlights the importance of board of directors and audit committee characteristics in corporate governance and in the development of financial markets that foster IFR disclosure. Originality/value This paper extends previous IFR disclosure studies by considering both the role of board of directors and audit committee effectiveness score in examining IFR disclosure.

scholarly journals IPO in the countries of the Gulf Cooperation Council

2016 ◽  
Vol 20 (3) ◽  
pp. 32-36
Author(s):  
Aidrous Irina Ahmed Zein ◽  
Sofya Glavina Grigorievna
Keyword(s):  
Financial Markets ◽  
Gulf Cooperation Council ◽  
Local Economy ◽  
Securities Market ◽  
Securities Markets ◽  
Developmental History ◽  
Gcc Countries ◽  
Ratio Data ◽  
Closed Groups ◽  
Market Trends

Abstract The Arab States of the Gulf Cooperation Council (GCC) host one of the fastest developing, yet one of the most closed groups of securities markets in the EMEA region. This study provides an analysis of the regional securities market and compares it with global securities’ market trends for the period 2000 to 2014. The study refers to regional IPO activity as a reflection of the level of maturity of the local economy. An IPO Market Ratio is introduced in this study as an instrument for measuring the national economy so as to be able to further compare it to other economies. The study provides descriptions of the financial markets of all GCC economies, outlines their developmental history, and develops a ranking of GCC countries based upon weighted normalized IPO Market Ratio data. The collected information and the results of the analysis are presented both in table and graphical formats.

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