Abstract
According to the major role of top management advocated throughout the years in investment support and assurance, enhancing economic progress and development, the present paper presents evidence of the executive management role in Oman in terms of the firms’ achievement of performance goals. Therefore, the paper examines the relationship between top executive management characteristics of Omani firms and their performance, with three control variables. The study targets Oman, owing to its unique characteristics, being a developing nation, and the period focused on encompasses the years from 2011-2017. The FGLS regression was employed specifically to test the top executive management characteristics effect on the performance of Omani firms. On the basis of the results, there are positive and significant relationships between general experience and account experience from the characteristics, and the performance of the firms. The findings have implications to market managers in light of enhancing the weaknesses in corporate governance.
Highlights
Corporate governance refers to the methods, structure and processes that the company follows to manage and direct its business and affairs
The characteristic of top executive management (TEM) examined in this study is professional certificate (TEMPC) and this study argues its enhancement of the quality of executive management, in that highly qualified executive management is argued to hold greater capability in addressing issues that it confronts and this necessitates the measurement of executive management qualification
There has been a notable increase in the public concern regarding the organizations performance level, which calls for the examination of TEM function in fraud determination
Summary
Corporate governance refers to the methods, structure and processes that the company follows to manage and direct its business and affairs. The concept works towards improving long-term shareholder value by holding the managers accountable and by improving the performance of the firms. It minimizes if not eradicates the ownership-control conflict by defining the interests of the shareholders and managers separately. The author conducts a review of the literature dedicated to corporate governance practices to determine their effectiveness in Omani companies. The mentioned companies have been the subject of discussion in many studies in literature (e.g., Al-Matari, 2014; Duke II, Kankpang, & Okonkwo, 2012; Jackling & Johl, 2009; Obiyo & Lenee, 2011)
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