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The Second Corporate Governance Wave in the Middle East and North Africa

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  • Alissa Koldertsova

    (OECD)

Abstract

Ten years ago, corporate governance was a nascent concept in the Middle East and North Africa (MENA). This article charts the evolution of corporate governance across the MENA region over the past decade – as a concept and in practice – and proposes potential avenues for future work in this area. Initial interest in corporate governance in the region was propelled by the drive to attract foreign investment and the increasing development of local capital markets. A second wave now appears to be forming and its results will depend largely on the capacity of national regulators to enforce existing corporate governance provisions. JEL Classification: G03, G34 Keywords: corporate governance, Middle East and North Africa (MENA), corporate governance code, security regulators, hawkamah

Suggested Citation

  • Alissa Koldertsova, 2011. "The Second Corporate Governance Wave in the Middle East and North Africa," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2010(2), pages 219-226.
    • Handle: RePEc:oec:dafkad:5kggc0z1jw7k
    DOI: 10.1787/fmt-2010-5kggc0z1jw7k
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    Citations

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    Cited by:

    1. Ahmed A. Elamer & Collins G. Ntim & Hussein A. Abdou & Andrews Owusu & Mohamed Elmagrhi & Awad Elsayed Awad Ibrahim, 2021. "Are bank risk disclosures informative? Evidence from debt markets," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 1270-1298, January.
    2. Moumen, Néjia & Ben Othman, Hakim & Hussainey, Khaled, 2016. "Board structure and the informativeness of risk disclosure: Evidence from MENA emerging markets," Advances in accounting, Elsevier, vol. 35(C), pages 82-97.
    3. ElBannan, Mona A., 2017. "Stock market liquidity, family ownership, and capital structure choices in an emerging country," Emerging Markets Review, Elsevier, vol. 33(C), pages 201-231.
    4. Burhan Can Karahasan & Firat Bilgel, 2018. "State-Business Relations and Financial Accessibility: Explaining Firm Performance in the MENA Region," Working Papers 1279, Economic Research Forum, revised 26 Dec 2018.
    5. Miroslav Mateev, 2019. "Regulation and ownership effect on banks performance: New Evidence from the MENA region," Proceedings of Economics and Finance Conferences 8911196, International Institute of Social and Economic Sciences.
    6. Burhan Can Karahasan & Fırat Bilgel, 2020. "State–Business Relations, Financial Access and Firm Performance: A Causal Mediation Analysis," Journal of International Development, John Wiley & Sons, Ltd., vol. 32(7), pages 1033-1074, October.
    7. Haque, Faizul & Brown, Kym, 2017. "Bank ownership, regulation and efficiency: Perspectives from the Middle East and North Africa (MENA) Region," International Review of Economics & Finance, Elsevier, vol. 47(C), pages 273-293.
    8. Faisul Haque, 2014. "The Impact of Ownership and Regulations on Bank Risk-Taking: Evidence from the Middle East and North Africa (MENA) region," CFI Discussion Papers 1402, Centre for Finance and Investment, Heriot Watt University.
    9. Awn Metlib Al-Shbail & Turki A. A. Turki, 2017. "A Theoretical Discussion of Internal Audit Effectiveness in Kuwaiti Industrial SMEs," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 7(1), pages 107-116, January.

    More about this item

    Keywords

    corporate governance; middle east and north africa (mena); corporate governance code; security regulators; hawkamah;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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