Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries

In recent years, foreign share ownership has been proven to be an important financial source for companies to develop and grow. The objective of this study is to examine the determinants of foreign share ownership in selected Gulf Cooperation Council (GCC) countries. Specifically, this study attempt...

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Main Author:	Ahmed, Mohammed Gubran Mohammed
Format:	Thesis
Language:	eng eng eng
Published:	2019
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/9327/1/depositpermission_s96171.pdf https://etd.uum.edu.my/9327/2/s96171_01.pdf https://etd.uum.edu.my/9327/3/s96171_references.docx
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id	my-uum-etd.9327
record_format	uketd_dc
spelling	my-uum-etd.93272022-04-28T01:49:49Z Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries 2019 Ahmed, Mohammed Gubran Mohammed Abdul Manaf, Kamarul Bahrain Al-Arussi, Ali Saleh Ahmed Tunku Puteri Intan Safinaz School of Accountancy (TISSA) Tunku Puteri Intan Safinaz School of Accountancy (TISSA) HG Finance In recent years, foreign share ownership has been proven to be an important financial source for companies to develop and grow. The objective of this study is to examine the determinants of foreign share ownership in selected Gulf Cooperation Council (GCC) countries. Specifically, this study attempts to examine the relationship between the corporate governance mechanisms, ownership structure, firm performance, adoption of English language for annual reports and foreign share ownership. Moreover, this study used firm size, leverage, political risks, exchange rate risk, inflation risk and economic growth (GDP) as control variables. This study is being established based on fixed effect model and conducted over the period of 2012-2015 for 192 non-financial companies (768 company-year observations) listed on the GCC stock markets. The results demonstrate that foreign share ownership is positively related to the board size, board independence, board expertise, board effectiveness, audit committee independence, audit committee expertise, audit committee effectiveness, firm performance (Tobin`s Q), local institutional investors and the adoption of the English language. With respect to family ownership, the result shows a negative relationship with foreign share ownership. However, the results find no influence of frequency meetings of board, audit committee size, frequency meetings of audit committee and audit quality on foreign share ownership. This comprehensive study contributes novel insights to the existing body of foreign share ownership literature, in that foreign investors prefer companies that have effective governance structures, good performance and provide annual reports in English. The results have implications for policy-makers in developing countries in general, and GCC in particular in their endeavours to improve liquidity on stock markets through the participation of foreign investors. Overall, these results are useful to managers in developing countries who are keen to attract foreign ownership. 2019 Thesis https://etd.uum.edu.my/9327/ https://etd.uum.edu.my/9327/1/depositpermission_s96171.pdf text eng staffonly https://etd.uum.edu.my/9327/2/s96171_01.pdf text eng public https://etd.uum.edu.my/9327/3/s96171_references.docx text eng public other doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng
advisor	Abdul Manaf, Kamarul Bahrain Al-Arussi, Ali Saleh Ahmed
topic	HG Finance
spellingShingle	HG Finance Ahmed, Mohammed Gubran Mohammed Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries
description	In recent years, foreign share ownership has been proven to be an important financial source for companies to develop and grow. The objective of this study is to examine the determinants of foreign share ownership in selected Gulf Cooperation Council (GCC) countries. Specifically, this study attempts to examine the relationship between the corporate governance mechanisms, ownership structure, firm performance, adoption of English language for annual reports and foreign share ownership. Moreover, this study used firm size, leverage, political risks, exchange rate risk, inflation risk and economic growth (GDP) as control variables. This study is being established based on fixed effect model and conducted over the period of 2012-2015 for 192 non-financial companies (768 company-year observations) listed on the GCC stock markets. The results demonstrate that foreign share ownership is positively related to the board size, board independence, board expertise, board effectiveness, audit committee independence, audit committee expertise, audit committee effectiveness, firm performance (Tobin`s Q), local institutional investors and the adoption of the English language. With respect to family ownership, the result shows a negative relationship with foreign share ownership. However, the results find no influence of frequency meetings of board, audit committee size, frequency meetings of audit committee and audit quality on foreign share ownership. This comprehensive study contributes novel insights to the existing body of foreign share ownership literature, in that foreign investors prefer companies that have effective governance structures, good performance and provide annual reports in English. The results have implications for policy-makers in developing countries in general, and GCC in particular in their endeavours to improve liquidity on stock markets through the participation of foreign investors. Overall, these results are useful to managers in developing countries who are keen to attract foreign ownership.
format	Thesis
qualification_name	other
qualification_level	Doctorate
author	Ahmed, Mohammed Gubran Mohammed
author_facet	Ahmed, Mohammed Gubran Mohammed
author_sort	Ahmed, Mohammed Gubran Mohammed
title	Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries
title_short	Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries
title_full	Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries
title_fullStr	Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries
title_full_unstemmed	Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries
title_sort	determinants of foreign share ownership of the listed companies in selected gulf cooperation council (gcc) countries
granting_institution	Universiti Utara Malaysia
granting_department	Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
publishDate	2019
url	https://etd.uum.edu.my/9327/1/depositpermission_s96171.pdf https://etd.uum.edu.my/9327/2/s96171_01.pdf https://etd.uum.edu.my/9327/3/s96171_references.docx
_version_	1747828573832478720

Determinants of foreign share ownership of the listed companies in selected gulf cooperation council (GCC) countries

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