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The impact of corporate governance on performance of companies: listed on the Saudi Stock Market
Finance & Accounting
Pages 32 (8032 words)
The impact of corporate governance on performance of companies: Specialized study of companies listed on the Saudi Stock Market. Abstract The study sought to investigate the adoption of corporate governance among Saudi companies and how factors determinant of corporate governance has influenced the financial performance of Saudi listed firms.
The adoption of corporate governance measures is generally accepted as a means of developing shareholder trust and confidence in the midst of economic shocks and volatile financial markets. The need for information is paramount in assessing the risk to investors and to the business. In Saudi Arabia, where family owned and controlled corporations proliferate, the urgency to adopt corporate governance measures is paramount to assuage the fears of the global investing market. The study determined that nearly all the indicators for measuring corporate governance do not significantly influence the financial performance of the 90 Saudi listed firms that comprised the research sample. The fact that many of these firms are owned by family groups is a possible explanation for this lack of significant relationship. Of the factors measured, only majority shareholder concentration proved to significantly influence the financial performance of Saudi firms as measured by the return on equity. ...
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