Saudi Cultural Missions Theses & Dissertations
Permanent URI for this communityhttps://drepo.sdl.edu.sa/handle/20.500.14154/10
Browse
3 results
Search Results
Item Restricted INSOLVENT TRADING LAWS IN SAUDI ARABIA AND AUSTRALIA: A CRITICAL APPRAISAL(University of Wollongong, 2024-07-03) Alqasmi, Huda Abdullah A; Anthony, Dorothea; Solaiman, S MIn recent years, Saudi Arabia has been on a mission to modernise its commercial laws to develop an attractive environment for foreign investment. Even though both its company law and bankruptcy law have been updated recently, they lack clear mechanisms to prevent companies from trading while they are insolvent or on the brink of insolvency, which can expose stakeholders to a high level of risk. Reforming the law to provide protection for stakeholders would encourage investment and assist the domestic market. Creditors are generally the most vulnerable stakeholder affected by the financial distress of their debtor company. While Saudi law offers minimal protection for creditors, Australian law provides a sound model with an appreciable degree of protection. Australian law has been gradually reformed to protect creditors of distressed companies by placing a specific duty on company directors to prevent insolvent trading. This study critically examines Saudi law concerning insolvent trading in the light of its counterpart in Australia and draws on Australian law on directors’ duties to suggest reforms aimed at strengthening the law of Saudi Arabia.23 0Item Restricted Understanding Directors' Duties in the Legal Systems of Saudi Arabia and the United Kingdom: A Comparative Study of Corporate Governance Systems.(Saudi Digital Library, 2023-09-01) Alajaji, Abdullah Mohammed S; Lin, WangweiAbstract: This dissertation compares the new Saudi Companies Law director obligations to the UK Companies Act 2006. The study is driven by the Saudi government's efforts to attract international investment and boost the private sector's economic influence. The Saudi Companies Law is compared to the UK Companies Act due to UK legislation's historical impact on company governance and the similarity of directors' obligations in both nations. A detailed literature analysis explores the historical evolution of corporate governance in Saudi Arabia and the UK, covering significant events, legislative reforms, and regulatory measures. This study analyses legal and regulatory environments to identify directors' distinctive tasks and responsibilities in each country, providing insights into the history and logic behind their roles. Stakeholder theory, which recognises organisations' more significant responsibility beyond shareholder value maximisation, is also explored in the dissertation. The research uses stakeholder theory to examine directors' duties to stakeholders and their effects on corporate decision-making. Enlightened shareholder value emphasises sustainable long-term value generation for shareholders over short-term benefits. The paper examines how this idea corresponds with directors' obligations in Saudi Arabia and the UK, emphasising the need for directors to consider long-term interests and company sustainability. Chapter 4's comparative study is the research's core. It compares and contrasts each nation's legislative frameworks for directors' obligations. The research seeks to clarify directors' roles in supporting good governance by assessing the regulatory frameworks' efficacy and suitability. In addition to explaining the reasons that made the Saudi government add the business judgment rule in the new company law. This research aims to inform policymakers, regulators, and business stakeholders, especially in light of the new Saudi Companies Law. By comparing regulations in Saudi Arabia and the UK, this study provides a foundation for further research. It enhances the current discourse on corporate governance and board members' vital role in corporate success, transparency, and accountability.29 0Item Restricted Takeovers of Publicly Traded Companies in KSA: A Critique of Regulations and Minority Shareholders Protection Rules in the Takeover Context(Saudi Digital Library, 2023-04-12) Alsadhan, Khalid Sami O; Clark, BryanTakeovers are relatively new strategies and are still developing in the Kingdom of Saudi Arabia (KSA), which explains the lack of sufficient studies in this area. This work will attempt to explore the KSA system of takeover from a legal perspective. It is expected that this research will contribute to the body of knowledge in the sphere of takeovers and minority shareholders’ protection in takeovers in KSA and will serve as a major reference point in this area of concern. This thesis will provide a general critique of the takeover system of listed companies in the KSA. It will begin by providing an understanding of the KSA’s corporate governance system and ownership structure. It will then provide an insight into the KSA’s takeover system and the stock market. The thesis will examine the role of authorities that are concerned with takeovers, such as the Capital Market Authority (CMA) and the General Authority for Competition (GAC). The research will question the efficiency of the current KSA regulations in protecting minority shareholders’ and directors’ duties in takeovers. The thesis argues that the existing laws in KSA are not effective in protecting minority shareholders in takeovers, while considering influential factors in the KSA environment,such as the concentrated ownership structure. The research also argues that the regulations governing directors’ roles and duties in takeovers and the litigation actions to hold them accountable are unclear and vague and require reform. The UK takeover system will be used as a benchmark for this thesis in recommending reforms to address these issues and at the same time to fit into the KSA’s legal environment. The primary objective of this research is to suggest reforms to the KSA takeover system of publicly traded companies to improve certain areas that the researcher found to have issues, especially minority shareholders’ protection and directors’ roles and duties. From the researcher’s point of view, the suggested reform would contribute to the promotion of a sound takeover system and, more generally, to the development of the corporate governance system and commercial environment in the KSA.16 0