Assessing the Impact of Changes to CG Codes on the Financial Performance of UAE Firms

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Khalifa H, Abdulfattah Mohamed G, Natoli, Riccardo ORCID: 0000-0002-9912-5692 and Zuhair, Segu (2020) Assessing the Impact of Changes to CG Codes on the Financial Performance of UAE Firms. International Journal of Accounting and Financial Reporting, 10 (3). ISSN 2162-3082


This study undertook a comparison of the changes to corporate governance (CG) practices, based on the UAE CG codes, for three different periods of time between 2006 to 2007, 2009 to 2010 and 2013 to 2014. An ordinary least squares model, along with analysis of variance testing, was employed to compare this. The study sample included 47 listed firms in the UAE. The changes made to the CG code during the study period affected the audit and board committee characteristics. The results show that the second CG code change had the most significant effect on board meetings, board members’ education, board members’ experience, audit committee meetings and audit committee members’ education impact on the financial performance of UAE listed firms. The potential policy implications arising from the study centre on ensuring greater firm compliance to meet the expectations of the regulatory body, as mandated in the CG code.

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Item type Article
DOI 10.5296/ijafr.v10i3.17081
Official URL
Subjects Historical > FOR Classification > 1501 Accounting, Auditing and Accountability
Historical > FOR Classification > 1502 Banking, Finance and Investment
Historical > FOR Classification > 1503 Business and Management
Current > Division/Research > VU School of Business
Keywords Board meeting, firm financial performance, audit committee, corporate governance, United Arab Emirates
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