Ownership Concentration in Listed Firms in the Gulf Cooperation Council: Implications for Corporate Governance

Abstract

In this study, we analyze 692 listed firms in the GCC for a period of seven years (2009–2015). This study provides valuable insights into corporate ownership in the emerging economies of the GCC. First, the findings provide major and minor investors with a comprehensive understanding of the corporate ownership structure in the GCC region, including the ownership concentration and ownership identity of firms in financial and non-financial industries. Second, the findings shed light on the change of ownership concentration in listed firms in the GCC, over seven years (2009–2015), during which, various policies were enacted to encourage investments and promote minority investor protection. Finally, this study prioritizes the public awareness of policy formulation to enhance corporate governance practices and mechanisms in the GCC region.

Keywords: Corporate Governance, Ownership Structure, Emerging Economies, Gulf Cooperation Countries

JEL Classification: G30, G32, N25