Exploring the Relationship of Audit Committee Meetings, Independency, CEO Duality, and Firm Performance: A Study in Kuwait

Abstract

By concentrating on audit committee meetings and its impact on business performance, with particular emphasis on market share (MRS), a variable that has up until now gone unexamined in current research, this study offers a novel inquiry into the field of CG. The background for this research was provided by the expanding field of CG investigations and their changing tendencies. By painstakingly examining the impact of CG structures on the financial performance of publicly traded firms in the Kuwait, our study aims to significantly contribute to such new trends. This study takes a ground-breaking approach in examining the link between audit committee meetings and company achievement, pioneering the inclusion of market share (MRS) as a critical performance criterion. Notably, the report examines a sample of 60 listed firms in financial market in the nation of Kuwait. This research carefully analyses the forecasts regarding the impact of CG dynamics on financial profitability using the financial statements of these organizations for the fiscal year 2020. The study used a cross-sectional approach to rigorously test each hypothesis raised by the investigation. The well-known statistical program SPSS 20 is used as the analytical tool for data analysis. The results of this thorough examination produce interesting results. Notably, a link between audit committee meetings and company financial performance is discovered, highlighting the importance of these meetings as a catalyst for improved financial outcomes. It's intriguing that the empirical analyses go a step further and reveal about no discernible link between the number of independency and financial performance. Similar to this, the research's findings show that the idea of CEO duality—in which the CEO also serves as the board's chair—has no appreciable effect on a company's financial performance.