GCC Countries Research Articles

The Moderating Effect of Institutions on the Relationship between Financial Development and Environmental Quality: Evidence from GCC countries

The Moderating Effect of Institutions on the Relationship between Financial Development and Environmental Quality: Evidence from GCC countries

A Pan-Asian Energy Transition? The New Rationale for Decarbonization Policies in the World’s Largest Energy Exporting Countries: A Case Study of Qatar and Other GCC Countries

Climate change has become a major agenda item in international relations and in national energy policy-making circles around the world. This review studies the surprising evolution of the energy policy, and more particularly the energy transition, currently happening in the Arabian Gulf region, which features some of the world’s largest exporters of oil and gas. Qatar, Saudi Arabia, and other neighboring energy exporters plan to export blue and green hydrogen across Asia as well as towards Europe in the years and decades to come. Although poorly known and understood abroad, this recent strategy does not threaten the current exports of oil and gas (still needed for a few decades) but prepares the evolution of their national energy industries toward the future decarbonized energy demand of their main customers in East and South Asia, and beyond. The world’s largest exporter of Liquefied Natural Gas, Qatar, has established industrial policies and projects to upscale CCUS, which can enable blue hydrogen production, as well as natural carbon sinks domestically via afforestation projects.

Status and Prospects of Higher Education Cooperation between China and GCC Countries from the Perspective of the "Belt and Road" Initiative

GCC countries occupy a unique and indispensable position in the Belt and Road Initiative. It is crucial for China and GCC countries to foster humanistic exchanges and support talent development through cooperation in higher education. Since the implementation of the Belt and Road Initiative, China-GCC higher education cooperation has made significant progress, including the initial establishment of cooperation mechanisms, the consolidation of historical foundations in humanities and social sciences exchanges, and the creation of new opportunities for collaboration in science and technology. However, compared to Western countries, China-GCC higher education cooperation remains relatively weak and has substantial room for development. Future efforts can elevate this cooperation by promoting joint educational programs, establishing higher-level mechanisms for humanities exchanges, and deepening collaboration in frontier fields.

The impact of tourism on sustainable development in GCC countries

The impact of tourism on sustainable development in GCC countries

Legal Status of Corporate Social Responsibility in GCC countries with special reference to Bahrain

Earlier the concept of corporate social responsibility (CSR) was based upon philanthropic approach but now has become an imperative subject matter in the business world. Countries adopt different measures to implement CSR. In many countries, CSR is self-regulated voluntary activity like in Gulf cooperation countries. In Gulf countries the concept of Zakat Tax is equivalent to CSR. Though there is no legal mandate for CSR implementation in gulf countries still its filing and listing is mandatory. For the present study Doctrinal method is adopted by the researcher. The sources referred are primary as well as secondary for primary sources Statues and Government notifications and reports of the Committees are referred and in secondary sources newspaper reports, scholarly research articles are referred. The present paper is analytical in nature as it analyses the concept of CSR in consonance with other aspects such as legal mandate under Business law. It further aims to study the implications of mandating CSR. The present study is about CSR in GCC with special reference to Bahrain.

Legal Status of Corporate Social Responsibility in GCC countries with special reference to Bahrain

Earlier the concept of corporate social responsibility (CSR) was based upon philanthropic approach but now has become an imperative subject matter in the business world. Countries adopt different measures to implement CSR. In many countries, CSR is self-regulated voluntary activity like in Gulf cooperation countries. In Gulf countries the concept of Zakat Tax is equivalent to CSR. Though there is no legal mandate for CSR implementation in gulf countries still its filing and listing is mandatory. For the present study Doctrinal method is adopted by the researcher. The sources referred are primary as well as secondary for primary sources Statues and Government notifications and reports of the Committees are referred and in secondary sources newspaper reports, scholarly research articles are referred. The present paper is analytical in nature as it analyses the concept of CSR in consonance with other aspects such as legal mandate under Business law. It further aims to study the implications of mandating CSR. The present study is about CSR in GCC with special reference to Bahrain.

Asymmetric Impact of Economic, And Structural Factors on the Development of the Non-Oil Export Sector in GCC Economies 1992-2022: Structural Reform Priorities to Sustainable Economic Growth

The current study empirically investigates to explore the links between economic and structural variables of non-oil export industry development in GCC economies. The research spans the years 1992 to 2022. It is understandable to wonder why some oil-producing countries have been able to diversify and build their economy while others have not. We postulate that disparities in the diversification and development patterns of oil producers are related to differences in their economic and structural characteristics. Divergence in diversification and development trends may result from such discrepancies. We measure the role of economic and structural elements to test this idea. The findings indicate that economic and structural factors play a critical role in the process of diversification and development. Countries have the higher-quality infrastructure, in particular. The findings imply that GCC authorities should improve robust macroeconomic conditions to support their non-oil export sector and boost institutional quality drivers to accelerate non-oil export sector development in their nations. The empirical findings can assist GCC policymakers in better designing the economic policies required to accomplish the GCC countries' comprehensive and sustainable economic development. Asymmetric mechanisms in non-oil export responses to economic and structural factor changes are likely to differ across economic sectors in GCC countries. A sectoral examination of this link could provide further information and supplement our analysis. New capital and infrastructure must be accommodated to support domestic and export manufacturing.

Effect of The Board of Directors Size, Independence, and Frequency of Board Meetings on Audit Fees: Evidence From GCC Market

Purpose: This study aims to examine the potential impact of board size, board independence, and meeting frequency on audit fees for companies listed on the financial markets of the United Arab Emirates (UAE). Design/Methodology/Approach: The Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) are the two financial markets in the UAE. The data utilised in the investigation were obtained from the ADX and the DFM. The data was gathered over six years, from 2011 to 2016. The final sample comprises 312 observations. The study employs descriptive and correlation tests, in addition to multiple regressions, as statistical methods. Findings: The analysis revealed a strong correlation between audit fees and both the independence and frequency of board meetings. The findings demonstrated a positive correlation between stringent corporate governance procedures and the requirement for superior audit quality, resulting in higher audit costs. The results also indicated a significant correlation between business size, profitability, leverage, and audit fees. Originality/Value: Due to the recent implementation of the corporate governance code in the UAE and its financial markets, including the ADX and DFM, the efficacy of the code remains uncertain and, therefore, subject to scrutiny. Inadequate governance and audit standards may adversely impact the integrity of financial reporting. Nevertheless, there is limited empirical research investigating the elements influencing the quality of financial reporting in the UAE. This study contributes to the existing literature by enhancing comprehension of the impact of the board of directors on audit quality, utilising data from a GCC country.

Effective enablers and tools for inhabitants’ knowledge acquisition in public policymaking organizations: a Delphi study in GCC countries

Effective enablers and tools for inhabitants’ knowledge acquisition in public policymaking organizations: a Delphi study in GCC countries

Inclusive leadership: Study shows benefits for employee wellbeing and performance in study of migrant workers in GCC countries

PurposeThis paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approachThis briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.FindingsA study of the impact of inclusive leadership among supervisors and employees in GCC countries showed the mediating role of employee psychological capital in the relationship between inclusive leadership and employee performance and also in the relationship between inclusive leadership and employee well-being. The moderating effect of supervisor family motivation in the relationship between inclusive leadership and employee performance was also significant.Originality/valueThe briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Understanding the Nexus between Oil Price Volatility and Trade Balance in GCC Countries: A Comparative Investigation of Panel Linear and Nonlinear ARDL Models

Understanding the Nexus between Oil Price Volatility and Trade Balance in GCC Countries: A Comparative Investigation of Panel Linear and Nonlinear ARDL Models

Unlocking the Mystery of Taxes and Inflation

Inflation can be defined as rising in prices over time and imposing new taxes or even increasing the current rates of taxes may increase these prices leading to a higher inflation rate. The broad inquiry in this study was about the effect of imposing taxes for the first time on the inflation rates and the main objective was to develop a model that uses corporate tax, VAT, and other controlling variables to predict the inflation rates after imposing taxes. The inflation rate used in this study was measured by both consumer price index and GDP deflator. A quantitative methodology was followed to explore the main issues of the study using data of some of GCC countries including United Arab Emirates, Qatar, Oman, and Saudi Arabia, in addition to Jordan and covering different periods based on the availability of data. Collected data were analyzed using OLS regression. The results of the study showed that VAT is not a significant variable to predict inflation rate after its imposing while corporate tax is significant in one country (Oman) and only when the inflation rate is measured using the GDP deflator.

Balancing Act: India's 'Look West' Policy in the Context of Saudi-Iran Rivalry

India's Look West policy was initiated by Manmohan Singh, but Narendra Modi successfully implemented it in 2014. To establish friendly relations with Middle Eastern countries of oil-rich nations. During the Cold War period, India and Arab countries did not have a good relationship because India was part of the non-aligned countries and another problem was the Kashmiri issue and Pakistan Arab countries were diversifying their economy and finding new opportunities and challenges which impacted their foreign policy India and west Asia had cultural roots and trade linkages from ancient times The main objective of India look West policy to improve cultivate a good relationship with GCC countries and Israel and Iran. Saudi Arabia and Iran both are strategic partners to India and advancing it interests in energy security, economic integration, and strategic partnership to avoid conflict between these two countries. by using this opportunity, India wants to leverage the economic interest and maintain their influence in this region .the presence of the Indian diaspora in Gulf countries particularly in Saudi Arabia adds complexity which impacts foreign policy decisions. The US sanctions on Iran and the growing influence of China in Iran and Saudi Arabia became a challenge to India to maintain their sphere of influence in this region, but also to improve diplomatic relationships with Gulf countries.

Implementation efficiency of the Hyperloop vacuum train project in the Gulf countries

Recently, in the countries of the Cooperation Council for the Arab States of the Persian Gulf, much attention has been paid to improving railway transport using the latest technologies and achievements of science and technology. For economic, social and environmental reasons, the development of this type of transport is becoming one of the main tasks of the governments of these countries.A modern rail network will connect all GCC countries and provide another mobility option besides road, air and sea transport for both passengers and cargo in the region. The new national project is expected to make a significant contribution to the economy and prosperity of the countries in the region.The development of the transport system in this region, taking into account economic and climatic features, is justified by the state transport strategy to achieve global indicators not only of traditional safety, accessibility and quality of transportation, but also of environmental friendliness, multimodality and speed.As part of the long-term development of the transport system, among the priorities of the governments of Saudi Arabia, the United Arab Emirates and Qatar is the use of a vacuum maglev transport system to launch ultrahigh-speed train traffic by putting into operation the fastest train in the world with a speed of up to 1100 km/h, the project executor is an American company Hyperloop. The journey between Dubai and Riyadh will last only 48 minutes, the project becomes the main competitor to the highly developed air transport, and the train of the future will be the first means of transport between the Gulf countries.The relevance of the project lies in the integration of the economy and life of the people of the countries of the region, increasing the mobility of citizens and residents, creating an attractive platform for companies, manufacturers, resources and human capital, supporting joint investments between countries, as well as developing the tourism industry and environmental protection.

The Prospect of the GCC Monetary Union and its Expansion to Other MENA Countries

This study investigated the possibility of expanding the GCC monetary union to other MENA countries using cluster analysis for the period 2000-2018. It also examined whether the economic characteristics of the countries provide evidence for the readiness of countries for the proposed union. The findings show that there was heterogeneity in the GCC and MENA countries suggesting that the countries were not yet economically ready for the launch of the monetary union. We found evidence in support of the expansion of the GCC monetary union to other MENA countries with two categories of countries, the core and the periphery. We also revealed key variables, including inflation differential, debt service requirement, and current account balance, which clearly demarcated the GCC and other MENA countries. These findings underscore the need for policy-makers in MENA countries to strengthen intraregional trade creating policy, policy coordination, and harmonisation for a successful and sustainable monetary union.

LINKAGES SHARIAH GOVERNANCE AND ISLAMIC BANKS PERFORMANCE: EVIDENCE FROM GULF COOPERATION COUNCIL (GCC) COUNTRIES

The shariah governance system is crucial for Islamic banks (IB) because of the unique structure that is different from conventional banks. Good governance has an impact on stable performance. The shariah supervisory board (SSB) presence will convince stakeholders that IBs are running their business according to shariah principles. The focus of this research is the results of empirical studies in GCC countries. The research data was obtained from the bankscope database and manual collective from 2010-2018. This study uses a panel data model with a random effect method. Empirical results show that SSB size has a negative correlation with performance. SSB expertise and board size have a positive correlation with performance. Furthermore, SSB with doctoral qualifications and independent boards are not correlated with performance

Ecosystems Defined and Applied to Organizations: An International Perspective

This article highlights the emerging applications of business ecosystems to organizations across a spectrum of disciplinaries. The article begins with a historical overview of business ecosystems, and a comparative analytical overview of the emergent intersectoral applied use of ecosystems in GCC and G20 governments. Furthermore, the article extends to illustrations of health sector ecosystems in GCC and G20 countries. It concludes with the advantages and disadvantages of vividly applying the ecosystem mindset pragmatically to organizational structures and governance.

The Effect of Intellectual Capital on the Financial Performance of Islamic and Conventional Life Insurance Companies in GCC and ASEAN

The objective of this study is to examine the association of intellectual capital with the financial performance of Islamic and conventional life insurance companies in the regions of the GCC and ASEAN. The study conducts an analysis to assess the association between intellectual capital, assessed explicitly by the value-added intellectual coefficient (VAIC) using Ordinary Least-Square Regression, and the financial performance of life insurance in the GCC and ASEAN through the panel analysis encompassing 4 GCC countries and 2 ASEAN, which encompasses of 26 conventional and 24 Islamic life insurance covering 2017-2021 period. The findings indicate a distinction between conventional and Islamic life insurance companies. The impact of intellectual capital in the context of conventional life insurance on financial performance is only affected by Capital Employed Efficiency. Conversely, financial performance is significantly affected by the intellectual capital elements of Islamic life insurance, except structural capital. Despite varying outcomes, conventional and Islamic life insurance correlation demonstrates a noteworthy impact of intellectual capital, except for structural capital, on financial performance.

Evaluating the Relationship between Corporate Social Responsibility Incentives and Financial Outcomes of Corporations Operating in the GCC Region

Corporate Social Responsibility (CSR) is a concept that has gained traction in strategic management over the years, and it is continuously being cited as important for both the business and the business shareholders. Although there is much research examining the general CSR-CFP relationship, there is very little, if any, research that investigates the firms operating in GCC countries, which is the main objective of this study. One of the new methods used to measure Corporate Social Responsibility engagement in any organisation is the ESG rating. The ESG rating measures the Environmental, Social and Governance (ESG) dimensions of Corporative Social Responsibility engagement. This research uses the stakeholder theory framework, together with the agency theory framework to find the impact that CSR has on the financial performance of organisations. In the research, we used annual data of ESG and financial ratios of 98 publicly listed firms operating in the Gulf Cooperation Council, from 2008 to 2018. Regression analysis was used to test the impact of ESG scores on the financial performance of organisations. According to the results, the Environmental, Social, and Governance dimensions have a significant impact on the financial performance of organisations operating in the Gulf Cooperation Council. This study contributes to the body of knowledge on the relationship between CSR performance and Financial Performance.

Impacts of renewable and disaggregated non-renewable energy consumption on CO2 emissions in GCC countries: A STIRPAT model analysis

This research investigates the effects of renewable (REC) and disaggregated non-renewable energy consumption (coal, oil, and natural gas) on CO2 emissions (CO2) in GCC countries, employing the STIRPAT model. The research also compares the impact of various non-renewable energy (NREC) sources to identify their contributions to CO2 emissions. Demographic factors like population and economic growth are considered main determinants of CO2. Panel data econometric methods are used, including diagnostic tests and unit root tests, to found long-run relationships among the variables. The study reveals significant positive associations between coal, natural gas, oil consumption and CO2, with oil having the highest impact. Conversely, REC shows a significant negative correlation with CO2. Economic growth and population are also linked to increased CO2. The findings emphasize the need for strategies promoting renewable energy usage, energy efficiency, public transportation, carbon pricing, and research in green technologies to alleviate CO2 and enhance sustainable development in the GCC countries.