The University of Southampton
University of Southampton Institutional Repository

Islamic values, ownership structure, corporate governance and disclosure in Saudi Arabian publicly listed corporations

Al-Bassam, Waleed, Elghuweel, Mohamed, Ntim, Collins G. and Soobaroyen, Teerooven (2012) Islamic values, ownership structure, corporate governance and disclosure in Saudi Arabian publicly listed corporations , Southampton, GB University of Southampton

Record type: Monograph (Working Paper)


We investigate whether and to what extent publicly listed Saudi corporations voluntarily comply with and disclose recommended good corporate governance (CG) practices, and distinctively, examine whether the observed cross-sectional differences in such voluntary CG disclosures can be explained by corporate commitment to voluntarily embrace and incorporate Islamic values into business operations, as well as by traditional ownership structure and CG mechanisms. We find that corporations that depict greater commitment towards incorporating Islamic values into their operations through high Islamic values disclosure index score engage in higher CG disclosures than those that are not. Additionally, our results suggest that corporations with larger boards, a big-four auditor, higher government ownership, a CG committee and higher institutional ownership, disclose considerably more than those that are not. By contrast, we find that an increase in block ownership significantly reduces voluntary CG disclosure. Our results are generally robust to a number of econometric models that control for different types of disclosure indices, general firm-specific characteristics, and firm-level fixed-effects.

Keywords: Islamic values; Ownership structure; Corporate governance; Disclosure; Saudi Arabia

Full text not available from this repository.

More information

Published date: 30 August 2012
Organisations: Centre of Excellence in Decision, Analytics & Risk Research, Accounting


Local EPrints ID: 343632
PURE UUID: 0d154608-0dc2-4187-b517-483feb7b03b7

Catalogue record

Date deposited: 09 Oct 2012 13:54
Last modified: 18 Jul 2017 05:21

Export record


Author: Waleed Al-Bassam
Author: Mohamed Elghuweel
Author: Collins G. Ntim
Author: Teerooven Soobaroyen

University divisions

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton:

ePrints Soton supports OAI 2.0 with a base URL of

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.