Financial Transparency in the UAE: Trust/Healthy Distrust Dichotomy of Corporate Governance

• In Event: Concurrent Session 3.2: Corporate Governance and Regulation

Abstract

Corporate governance advocates call for greater transparency in the United Arab Emirates and other Middle East and North African Countries. The development of business organizations in the UAE have experienced phenomenal growth since 1971. This study surveys 83 UAE organizations and finds some support for the disclosure adverse culture assessment by Kolderstova (2010). Historical context is explored as to the perceived degree of mistrust possibly underlying “confidential” responses to certain survey questions. With economic growth comes the necessity of accountability through good governance that allows the capital market to operate efficiently. This study discusses how corporate governance is a complex system that encourages healthy distrust in both emerging and developed markets.

Author

• Winifred D Scott, Zayed University