Good The Studies Dissertation Example
Background to the problem
Economy of relationship-based, ethically and culturally closed countries differs from the one of Western countries where citizens and business rely exclusively on laws and regulations and where family relationships are disregarded in the course of conducting business. Unlike, for instance, Europe and the United States, the economy of such countries as Saudi Arabia and Brazil heavily relies on family run companies. According to Saudi Arabian Chamber of Commerce, there are about 5,000 of companies owned by Saudi Arabian families which operate in the country. Currently, Saudi Arabian and Brazilian family run companies are undergoing serious challenges in corporate governance: such a corporate body as supervisory board is unable to address the corporate conflicts arising out from family feuds. Unlike Saudi Arabia and Brazil, Western countries are not facing similar problems associated with the establishment of the effective corporate family governance. So, the given research is an attempt to analyze the salient points of the issue stated and propose the effective solution.
When conducting a scientific research on the current issue, the author have not found any relevant studies exploring the essence of corporate governance within Saudi Arabian and Brazilian firms run by families which could highlight the corporate peculiarities of running the family business and propose the adequate and efficient solution of dealing with corporate family feuds. However, the given research examines the mainstream legal guidelines (both local and international) which stipulate the mandatory and desirable practices recommended to be implemented and assess the advancements in the field of corporate governance throughout the world. These legal guidelines are: Corporate Governance Regulations introduced by the Capital Market Authority of Saudi Arabia, the Principles of Corporate Governance of the Organisation for Economic Co-operation and Development as of 2004, the World Bank Report on the Observance of Standards and Codes dated 2009, rules and principles of the Accounting and Auditing Organization of Islamic Financial Institutions. In addition, the researcher has also studied the corporate governance and bodies of several family-owned companies within Saudi Arabia and Brazil, the opinions delivered at some professional forums and conferences and overseas corporate governance practice existing in the other countries.
Family-owned companies and businesses are certain to substantively sustain the economy of relationship-based countries. While they contribute to the economic growth and prosperity, at the same time family run companies may give rise to economic fluctuations and crises by provoking bankruptcies and staff turnover. The present research proposes the way of addressing the possible turbulence in the corporate governance of family-owned firms by establishing the corporate governance committee replacing a supervisory board. The aforementioned corporate governance committee is to be charged with special powers to avoid corporate family conflicts and protect employees.
Reflecting on the mainstream issues of the research, the author proposes to introduce the corporate governance committee within the family run company in Saudi Arabia and Brazil and draws a comparison between Saudi Arabian and Brazilian family-owned companies outlining advantages, disadvantages, weaknesses and peculiarities of both corporate governance systems. The proposed corporate governance committee is recommended to replace the supervisory board of the family run company. The given research identifies the cases where, on the author’s point of view, such corporate governance committee should be established mandatory, its powers and charter (rules of functioning and procedure).
Having established the theoretical framework for the research problematic, the author employed the following methods to analyze and critique the studies and evidence gathered: qualitative, quantative, inductive and deductive methods, and comparative method. Quantative and qualitative methods were applied when selecting appropriate studies, facts and regulations to support the research issues. By applying qualitative and quantative methods, the author succeeded in gathering a sufficient amount of supporting sources to extend his arguments.
Inductive and deductive methods were applied for the aim of conducting analysis and identifying a critique in order to reason the proposal of establishing the corporate governance committee, its powers and charter.
Comparative method was helpful in the course of drawing similarities and discrepancies existing in the corporate governance of Saudi Arabian and Brazilian family-owned companies.
The given research will be structured as follows:
Chapter 1 “Family Company”
1.1 Definition of Family Company
1.2 Stages of Family Company
1.3 Importance of Family Company and Its Corporate Governance
Chapter 2 “Supervisory Board”
2.1 Concept of the Supervisory Board
2.2 Functions and the Role of the Supervisory Board
2.3 Supervisory Board and the Limited Liability Company
Chapter 3 “Corporate Governance in Saudi Arabia and Brazil”
3.1 Corporate Challenges for Family Companies in Saudi Arabia and Brazil: Comparative Insight
3.2 Overseas Corporate Governance Experience Regarding the Establishment of the Corporate Governance Committee
3.3 Establishment of the Corporate Governance Committee within Saudi Arabian and Brazilian Family Companies: Composition and Functions of the Committee, Rules of Procedure and Funding
Conclusion and Recommendations
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