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The Effect of Internal Corporate Governance of the Firm's Performance and Firm Value in Five GCC Countries

In: Accounting and Finance Innovations

Author

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  • Zahra AL Nasser

Abstract

A critical glance at the literature review of GCC countries, firm performance and firm value shows that the literature does not adequately consider the uniqueness of an institutional setting such as the presence of royal family members and government officials' members on the board. Additionally, noticeable features are not accounted for in the previous literature, such as a large involvement of relatives and the presence of a female on the board of directors. It is important to understand whether these variables matter or not in this region as this then influences the firm's performance and firm value. Thus, this study focuses on the effect of internal CG of the firm's performance and firm value in five GCC countries. The final sample consists of 220 firms (1,096 firm-year observations) for the fiscal year 2009 to 2013. The main finding is that there is a positive significant relationship is seen between expertise factors and firm performance. The expertise factor encompasses royal family members on the board as well as hiring one of the Big 4-auditing firms. This result is in line with a theoretical claim (agency theory), the research question expectation and empirical evidence.

Suggested Citation

  • Zahra AL Nasser, 2021. "The Effect of Internal Corporate Governance of the Firm's Performance and Firm Value in Five GCC Countries," Chapters, in: Nizar Mohammad Alsharari (ed.), Accounting and Finance Innovations, IntechOpen.
    • Handle: RePEc:ito:pchaps:235558
    DOI: 10.5772/intechopen.99909
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    More about this item

    Keywords

    royal family; board of directors; corporate governance; firm performance;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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