CORPORATE GOVERNANCE IN LEBANON: AN EMPIRICAL INVESTIGATION

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Assem Safieddine ORCID logo

https://doi.org/10.22495/cocv2i3p5

Abstract

In this paper, we examine the board composition of the largest three companies, two of which are the first to be privatized and find that the oversight function of corporate boards has not yet been fully utilized. We also analyze the state of corporate governance in Lebanon using the five principles of corporate governance, namely: protection of shareholder rights, equitable treatment of shareholders, protection of stakeholder rights, timely and accurate disclosure and transparency, diligent exercise of the board of directors’ responsibilities. We try to highlight Lebanon’s potential challenges given its recent experience in the privatization of the mobile telecommunication services, and its current and proposed institutional and regulatory reforms as laid out in the Paris II conference. We also examine the organizational determinants of the governance arrangements in privatized firms based on the experiences of other emerging conomies.

Keywords: Corporate Governance, Board Independence, Shareholders’ Rights

How to cite this paper: Safieddine, A. (2005). Corporate governance in Lebanon: An empirical investigation. Corporate Ownership & Control, 2(3), 51-61. https://doi.org/10.22495/cocv2i3p5