Abstract
We herein use discriminant analysis (DA) to examine the extent to which differences in ownership structure may be used to distinguish between listed companies that use different degrees of transparency in corporate governance in the Middle East, with a particular focus on the case of the United Arab Emirates (UAE). The presence of Sovereign Wealth Funds (SWFs) empirically proves to be an important driver of improvements in corporate governance practices (CGPs), with particular regard to transparency and disclosure. Other factors, such as whether ownership is by government, or whether it is dispersed, are shown to have a detrimental effect on good CGPs.
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