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International Journal of Law and Management: Review of Saudi Arabia company law reforms and its implications on corporate governance framework- an evidence from emerging market
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Abstract
Purpose – This paper aims to review the literature of CG regime in Saudi Arabia, an emerging market for
several compelling reasons. Most of the earlier literature on corporate governance subjects mainly aimed at
large emerging economies. To date, there is a lack of studies examining the following: authorities and
obligations, subcommittees and the regulatory system in Saudi Arabia. Therefore, this paper is an attempt to
bridge this gap by reviewing the current laws, regulation, trends and key reforms in corporate governance
framework in the country as the current amended laws focused to offer more competence and precision to the
regulatory setting in line with the development of the Saudi Arabian stock market and the influx of foreign
reserves.
Design/methodology/approach – The current paper has espoused a content analysis approach in
which relevant literature was deliberated and studied.
Findings – The amended CG rules include some developments into corporate governance and substitutes
the earlier version of the long overdue regulation of 1965. The new 2017 implemented Code will reinforce the
implication of good governance as a condition model for accomplishing good financial management in the
country. This study has provided an overview of the evolution and development of corporate governance in
Saudi Arabia by highlighting the key reforms.
Research limitations/implications – This study has implications for the policymakers and
institutional bodies to review the current developments and progress in the country’s overall corporate
governance framework in an attempt to attract more foreign direct investment. Saudi Arabia is among the
nations that have a potential for huge foreign investments due to its plan of expanding its economy “Vision
2030.” Therefore, this paper will aid foreign investors in deciding to invest in the country after reviewing the
current developments in an attempt to implement vision 2030.
Originality/value – This study contributes to existing literature by examining the current trends in CG,
with the discussion on the development of company law in Saudi Arabia which emphasizes on sections that
borders on corporate governance.
NONE
Text
ENGLISH
EMERALD INSIGHT
2022
ENGLAND
JURNAL ILMU HUKUM
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APA Citation
Lubna Javed Rizvi. (2022).International Journal of Law and Management:
Review of Saudi Arabia company
law reforms and its implications
on corporate governance
framework- an evidence from
emerging market.(Electronic Thesis or Dissertation). Retrieved from https://localhost/etd