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Volume :9 Issue : 35 1983      Add To Cart                                                                    Download

ROLE OF BOARDS OF DIRECTORS IN KUWAITI SHAREHOLDING COMPANIES FROM A PTRACTICAL VIEW POINT

Auther : By: Dr. M.A. Al-Hamoud and Dr. R. M. Rifae

           The main objectives of this paper are to determine the discrepancies between theory and practice in the function of boards of directors in Kuwaiti shareholding companies, to establish the causes of these discrepancies and to make suggestions, which would lead to improved performance of the boards.

          Data analysis shows that boards of directors in the Kuwaiti shareholding companies are inefficient on the following bases: 

1.     They believe that the profit principle has priority over the interests of employees, consumers and the public general.

2.     Their role vis-à-vis the establishment of company goals and policies is merely at the level of approving proposals already made by the executive management. The boards themselves do not initiate goals and policies.

3.     The prevailing trend in the boards under study is to delegate important decisions in marketing and personnel areas to executive management.

4.     They fail to make continuous objective evaluations of the performance of both senior managers and the company as a whole.

Reasons are suggested to account for such deficiencies and recommendations are made to remedy them.

 

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May 18, 2017

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