Saudi Cultural Missions Theses & Dissertations
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Item Restricted The Impact of Corporate Governance on Risk Management for the Insurance Industry in Saudi Arabia Firms(Saudi Digital Library, 2025) ASSIRI, AMER; Baorong, YuThis study examines the relationship between corporate governance and risk management in the Saudi Arabian insurance sector, focusing on how governance mechanisms influence such key risk dimensions as insurance, credit, and liquidity. Despite significant regulatory reforms, the sector faces persistent challenges, including insufficient board independence, limited diversity, and inadequate risk management expertise, which hinder its ability to achieve sustainable growth and financial stability. The research addresses critical gaps in the literature in particular, the lack of empirical studies on governance and risk management in the Saudi context, the under-exploration of advanced analytical techniques, and the insufficient examination of such governance dynamics as board diversity, CEO characteristics, and risk committee expertise. The study leverages a robust dataset comprising 270 annual reports and 4,620 observations from publicly listed insurance firms in Saudi Arabia, spanning a 10-year period (2014–2023). Advanced machine learning models including generalized linear models, random forests, gradient boosting machines, and deep neural networks are employed to analyze the interplay between governance attributes and risk outcomes. Feature importance analyses, including Shapley additive explanations (SHAP) values and force plots, are used to interpret model predictions and identify the most influential governance factors. These techniques provide granular insights into how individual features, such as board independence, risk committee expertise, and firm characteristics, contribute to risk predictions. Key findings reveal that board independence, risk committee expertise, and composite corporate governance are the most influential factors in mitigating insurance, credit, and liquidity risks. Firms with higher proportions of independent directors and well-qualified risk committees exhibit stronger risk oversight and lower risk exposure. Additionally, such firm characteristics as size, profitability, and leverage play a significant role in shaping risk profiles, while CEO duality and tenure have minimal direct impacts on risk outcomes. The study also highlights the moderate influence of gender diversity on governance effectiveness, although nationality diversity and board shareholding show limited direct effects. The research makes several significant contributions. First, it advances the existing literature by providing empirical evidence on the relationship between governance mechanisms ii and risk management in the Saudi insurance sector a context that has received limited scholarly attention. Second, it offers practical insights for industry stakeholders, emphasizing the importance of strengthening board oversight, enhancing risk committee expertise, and fostering diversity to improve governance frameworks. Third, it provides actionable recommendations for policymakers and regulators to align governance practices with international standards, thus helping ensure the sector’s resilience and sustainable growth. Finally, the study aligns with Saudi Arabia’s Vision 2030 objectives by exploring how governance and risk management practices can support economic diversification, financial stability, and sustainable development. In sum, this thesis bridges critical gaps in the literature and provides a roadmap for enhancing governance and risk management in the Saudi Arabian insurance sector, ensuring its competitiveness and alignment with global best practices. The use of advanced analytical techniques, including SHAP values and force plots, underscores the methodological rigor and practical relevance of the study.16 0Item Restricted A comparative analysis of corporate governance frameworks’ roles in integrating ESG into mergers and acquisitions in the UK and the US, and how they enable or hinder its integration in mergers and acquisitions.(Saudi Digital Library, 2025) Jan, Jumanah; Clare, PattonThis research examines the role of corporate governance frameworks in the UK and the US in enabling or hindering the integration of ESG in mergers and acquisitions. As ESG has become increasingly significant to transactional outcomes, yet a gap persists in comprehending whether governance integrates as an essential component or permits it to remain optional. This research examines this deficiency through a comparative legal analysis of the framework of the United Kingdom and the United States. This research implements a doctrinal and comparative methodology to examine legislation, soft-law instruments, and case law in both jurisdictions, supported by academic and empirical evidence. The analysis compares the UK’s principled approach, whilst assessing section 172 of the Companies Act 2006, and the US’s prescriptive approach embedded in Delaware’s fiduciary duties. The findings reveal that the UK framework is designed to grant flexibility but is obstructed by inadequate enforcement. In contrast, the US framework provides assurance yet is constrained by its focus on shareholder primacy. Consequently, neither framework completely embeds ESG into M&A, hence its integration is dependent on the board's commitment, investor pressure, and market conditions. This dissertation suggests that corporate governance functions as both a promoter and a hindrance to ESG in M&A, highlighting the necessity for more uniform guidelines, ESG metrics, and to reconcile the disparity between ESG’s theoretical significance and its inconsistent practical application.10 0Item Restricted The Impact of Governance in Improving the Effectiveness of Risk Management: The Moderating Role of Internal Audit in Saudi Commercial Banks(Saudi Digital Library, 2024) Alrazni, Raed; Alzghoul, AmroThe study aimed to examine the impact of governance, specifically its dimensions of work systems, participation, and transparency, on the effectiveness of risk management, which encompasses strategic, financial, and operational risks, as well as the moderating role of internal audit in Saudi commercial banks. To achieve the study’s objectives, a descriptive-analytical approach was employed. A questionnaire was developed based on the theoretical literature and previous studies relevant to the study's topic. The study population comprised Saudi commercial banks, and a comprehensive survey method was utilized. The study sample included senior, middle, and lower management levels, with 344 questionnaires distributed and 321 valid responses retrieved for analysis. The results indicated that governance within Saudi commercial banks was rated at a high level, while the effectiveness of risk management was assessed at a medium level. Additionally, the internal audit function was found to moderate the impact of governance on risk management, accounting for 16.5% of the total variance. The findings also revealed a statistically significant effect of governance, across its dimensions of work systems, participation, and transparency, on the effectiveness of risk management in the areas of strategic, financial, and operational risks within Saudi commercial banks. Based on these findings, the study put forward several recommendations. The foremost recommendation is to enhance participation in governance, as it bolsters accountability within banks. Improved oversight of management and the board of directors can mitigate risks, reduce inappropriate behaviors, and strengthen adherence to ethical standards and legal requirements. The study also recommends applying the model to other sectors and exploring additional variables to further understand the relationship between the independent and dependent variables, as well as considering factors beyond governance that could influence risk management.20 0Item Restricted Governance, Risk, and Compliance (GRC): Integration vs. Separation in the Government Sector of Saudi Arabia(Saudi Digital Library, 2025) Altalhi, Shahad; Arslan, MelikeGovernance, Risk, and Compliance (GRC) functions should be implemented effectively because organization performance and citizen trust in the public administration are critical (Makaš, 2023; Taufiq, 2023). The impacts of a poorly designed GRC system on a public institution can be disastrous, such as incurred delays in responding to crises, increased susceptibility to corruption and systematic inefficiencies, which undermine trust and prevent a country from progressing. The fundamental core components of GRC should be defined to comprehend GRC. The governance of the public sector entails how the government entities are guided and managed in terms of making decision and having authority and accountability (Abdelrahim, 2023). Good governance creates trust within the population hence having efficient use of resources, good implementation of policies, and ethics (Alhejaili, 2024). Risk management refers to the process of incident identification, assessment, and reduction, including financial management mishaps to data breaches (Almgrashi & Mujalli, 2024). Effective initiative-taking risk management protects common wealth and service and delivery. Lastly, Compliance refers to dealing with laws, regulations, and ethics (Abosaud, 2024; Mujahid, 2024). In the public sector, this is critical to the legal and ethical integrity, avoiding fraud, maintaining a position of public confidence, and necessitating strong controls to reconcile activities and needs. The concept of GRC has been changing in parallel with the evolution of public administration, especially after the 1980s New Public Management (NPM) reforms (Bracci et al., 2024). NPM focused on achieving efficiency and accountability in the public sphere using the management methods of the private business. With governments under pressure to become more open and responsive, GRC frameworks began to develop to manage governance, enterprise risk and regulatory compliance (Adeyinka et al., 2024). Through Vision 2030, transformative reforms are occurring in the government of Saudi Arabia, striving to achieve more transparency, accountability, and efficiency (Bracci et al., 2024; Omran, 2024). One of the main revisions is the betterment of GRC frameworks to successfully comply and manage risks (Alsulami & Chafai, 2024; Rehman et al., 2024). This background sheds light on the argument of separating and integrating GRC functions (Alqahtani & Abuanza, 2024). According to Taufiq (2023), the combination of GRC elements brings efficiency and harmony. In contrast, Sukomardojo et al. (2023) claim that apartness encourages expertise specialization, accountability, and avoids any conflict of interest. This study compares integrated with segregated GRC systems in the government sector in Saudi Arabia to provide viable recommendations to policymakers to promote good governance and compliance in line with Vision 2030.12 0Item Restricted Governance, Policy, Ethics, Law, and Risk Management in IT and Cybersecurity(Saudi Digital Library, 2024) Alharbi, Asia; Tuffley, DavidThis paper delves into the diverse and evolving fields of IT and cybersecurity governance, ethics, and law, focusing on their essential role in managing digital risks and promoting the responsible use of technology. It discusses major frameworks such as COBIT 2019 and ITIL 4, which help align IT operations with business objectives and strengthen organizational performance. The study further explores approaches to ethical hacking, incident handling, and responding to data breaches, emphasizing the importance of preparedness and accountability. In addition, it examines pressing ethical issues related to artificial intelligence, open-source development, and telemedicine, as well as challenges surrounding cyber risk management, insurance, and data privacy in remote work environments. By connecting these aspects, the paper underscores how strong ethical governance and compliance systems build trust, ensure accountability, and enhance resilience within organizations. In conclusion, it argues that achieving sustainable digital transformation requires a thoughtful balance between technological advancement, legal adherence, and moral responsibility.32 0Item Restricted Informal Institutions and Economic Performance(Saudi Digital Library, 2025) Asiri, Saad; Wang, KunThis research examines the direct effect of tribalism on economic performance as well as the moderating roles of governance, in particular Government Effectiveness (GE) and the Rule of Law (RoL), in that relationship. Previous studies have examined tribalism's negative impact on institutional quality but have rarely studied its direct effect on economic performance or how governance can mitigate this effect. This study employs a mixed linear model on a panel dataset covering 73 countries over the period from 2002 to 2022. The results confirm that tribalism has a significant adverse effect on economic performance. Furthermore, the analysis demonstrates that GE significantly moderates this negative relationship, which indicates that strong government capacity can counter the influence of tribalism. RoL, however, does not exhibit statistically significant moderation, implying that formal legal frameworks may be circumvented by informal tribal networks. These results indicate that the dimensions of government vary in their ability to reduce the negative effects of tribalism. Moreover, the study recommends that for policymakers in tribal societies, improving government effectiveness can be a more effective strategy for promoting growth than relying solely on legal frameworks.16 0Item Restricted Public-Private Partnerships (PPP) in Sustainable Infrastructure Development in Saudi Arabia: A Risk-Reward Analysis from a Project Management and Contracting Perspective(Saudi Digital Library, 2025) Alanzi, Mashal Johim; Hasan, FakhrulThis study investigates the dynamics of risk and reward allocation, governance, and technological enablers in Saudi Arabia’s Public-Private Partnerships (PPPs) within the framework of Vision 2030. Using a qualitative methodology based on semi-structured interviews and thematic analysis in NVivo, the research identified 13 initial codes consolidated into four overarching themes: risk–reward mechanisms, project management and governance, institutional and technological enablers, and international best practices. Findings reveal that while PPPs are central to infrastructure delivery, risk allocation in Saudi Arabia remains highly government-centric, often undermined by opaque communication and weak project management capacity. Governance reforms, such as the PSP Law, provide a legal basis, yet institutional fragmentation and regulatory overlaps persist. Technology, including blockchain and AI, is recognised as a potential enabler of transparency but remains at a largely symbolic stage. Comparative analysis highlights that international best practices can inform Saudi PPPs only when adapted to the Kingdom’s socio-economic and institutional context. The study advances PPP scholarship by providing a context-specific understanding of governance and risk-sharing in emerging markets, integrating technology as a dual enabler, and offering practical recommendations for policymakers, investors, and project managers.13 0Item Restricted The Impact of Governance Factors on Economic Growth in Saudi Arabia: A Comparative Analysis of GCC Countries and Spillover Effects on Regional Economic Development(The London School of Economics and Political Science, 2025) Alfehaid, Khaled; Parmigiani, AlbertoThis dissertation investigates the impact of governance quality on economic growth in Saudi Arabia and address the gap in understanding how governance quality shapes economic outcomes in Saudi Arabia and GCC region. It also conducts a comparative analysis of the governance environment across Gulf Cooperation Council countries, evaluating regional governance spillover and its impact on Saudi Arabia’s economic growth. Recognizing governance as a multi-dimensional concept that encompasses institutional and political factors, this study applies principal component analysis (PCA) to governance indices, employing it as a tool in a multi-regression equation. Given that most of these world governance indicators (WGI) are highly correlated, the PCA method is optimal. Data were collected between 1996 and 2023 (19 observations per country due to missing values). The findings reveal that institutional governance indicators, such as government effectiveness, regulatory quality, and rule of law significantly impact Saudi Arabia's economic performance. However, their association with growth is sometimes negative, potentially reflecting time lags, governance improvements, or the dominance of oil-based, state-led economic development. A comparative analysis of GCC nations highlights significant disparity in governance quality. For example, the UAE and Qatar lead in terms of institutional performance. However, political governance, particularly voice and accountability, remains a consistently weak dimension of governance across the region. Notably, the study identified significant negative spillover effects from improved governance in neighboring countries such as the UAE and Qatar, which could negatively impact the economic growth of Saudi Arabia. Conversely, positive spillover was observed from the countries with aligned institutional frameworks, such as Kuwait and Bahrain. These results demonstrate the complex dynamics of governance in GCC countries and underscore the need for regional policy coordination to mitigate adverse competitive spillover to promote inclusive economic development in the whole region.40 0Item Restricted The principle (or the notion) of accountable judiciary (or holding judges to account): A comparative study of Saudi Arabia and the U.K. (or English) Laws.(University of Glasgow, 2025) Abdulbari, Mohammed; Mullen, TomThis thesis undertakes a comparative administrative‐law examination of judicial independence in two advanced legal systems—England & Wales and the Kingdom of Saudi Arabia—while emphasising the latter’s visionary governance and commitment to both de jure guarantees and de facto implementation. Drawing on formalist, functionalist, and sociological theories, it develops a dual framework that distinguishes between de jure (statutory and constitutional guarantees) and defacto (institutional practice and administrative behaviour) indicators of independence. These indicators encompass tenure security, appointment procedures, financial autonomy, disciplinary safeguards, and protection from improper influence. The framework is applied through rigorous doctrinal analysis of primary legislation, soft‐law instruments, and observed administrative practice. In the UK case (Chapters 2–3), the thesis traces the administrative evolution from the Act of Settlement (1701) to the Constitutional Reform Act 2005. It demonstrates how de jure measures—such as the Judicial Appointments Commission’s merit‐based selection process, consolidated‐fund remuneration, and entrenched tenure protections—combine with de facto conventions—Parliamentary restraint in commenting on pending cases and media‐court protocols—to reinforce a principled separation of powers. These administrative safeguards ensure that English and Welsh judges operate with predictable funding, protected status, and clear recusal and contempt procedures that shield them from executive or legislative interference. Chapters 4–6 celebrate Saudi Arabia’s dynamic fusion of centuries‐old Sharīʿah principles with cutting‐edge administrative‐law reforms under the Kingdom’s enlightened leadership. The analysis charts the system’s progression from early qāḍī and maẓālim forums to the 1992 Basic Law of Governance and the 2007 Judiciary Law, which enshrine Article 46’s de jure guarantee of judicial independence. It then examines de facto innovations: the Supreme Judicial Council’s transparent recruitment and promotion protocols, tiered rank hierarchies with probationary safeguards, specialised commercial and administrative tribunals, e‐litigation platforms that expedite case management, and Nazaha’s pioneering anti‐corruption oversight. These measures collectively reflect the regime’s unwavering commitment to administrative transparency, accountability, and the continuous enhancement of public trust. Chapter7 synthesises these findings by contrasting England and Wales’s long‐tested administrative safeguards with Saudi Arabia’s model of tradition‐empowered reform. It offers six targeted administrative‐law recommendations—mandatory annual anonymised reporting on judicial appointments, disciplinary measures, and budget allocations; statutory limits on executive review powers; and routine publication of written judgments—to strengthen de jure frameworks and deepen de facto autonomy. By demonstrating how a modern administrative structure can harmonise with Sharīʿah values under enlightened stewardship, this work provides best‐practice benchmarks for any jurisdiction committed to an impartial, accountable judiciary operating within a robust separation‐of‐powers framework.61 0Item Restricted Governance and Asset Allocation Strategies in the Investment Mutual Funds(Univeresity of Strathclyde, 2024-12) Alsubaie, Aseel; Moore, JedThis research examines the role of governance in asset allocation and portfolio management within the investment mutual fund sector. Modern governance frameworks, influenced by technological advances, ESG requirements, and market volatility, integrate risk management, sustainability, and operational efficiency. The study evaluates how governance structures incorporate ESG criteria, manage technology risks, and ensure resilience during market shifts. Findings suggest that funds with strong governance achieve balanced, risk-averse allocations through diversification and ESG integration. Additionally, AI and ML require governance adjustments to manage related risks. The study emphasizes the need for flexible governance frameworks to address future challenges in an evolving market landscape.29 0