The investment committee is primarily a decision-making entity that aims to implement investment decisions taken by the company. In the framework of the powers conferred upon it by the board, the importance of this committee is highlighted and as such, in the present study, the primary aim is to examine the effect of investment on Saudi financial sector, an examination that is the first of its kind. The investment variable was measured by investment committee characteristic including, size, independence, meeting, commitment and allowance for session attendance. The study data was gathered from the annual reports of the financial firms spanning from 2014 to 2017. Panel data was used to conduct the hypotheses testing concerning the relationship among the variables of the investment commitment and the performance of the financial firms. Based on the findings, investment committee size and investment committee independence positively and significantly related with the performance of the firms. This study has several contributions to literature, particularly concerning information about the importance of investment committee. In addition, this study is clarified our understanding concerning best practices of corporate governance structure existing in Saudi financial listed companies.
The Effect of Investment Committee on the Financial Sector Performance of Saudi Financial Market in View of Vision 2030: A Panel Data Approach
Published 2019 in International Journal of Accounting and Financial Reporting
ABSTRACT
PUBLICATION RECORD
- Publication year
2019
- Venue
International Journal of Accounting and Financial Reporting
- Publication date
2019-10-11
- Fields of study
Business, Economics
- Identifiers
- External record
- Source metadata
Semantic Scholar
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