Corporate Governance and Social Responsibility

Table of Contents

TOC \o "1-3 " \h \z \u HYPERLINK \l "_Toc1 " Executive Summary PAGEREF _Toc1 \h 2

HYPERLINK \l "_Toc2 " 1 .0 Introduction PAGEREF _Toc2 \h 4

HYPERLINK \l "_Toc3 " 2 .0 OECD Principles of Corporate Governance : PAGEREF _Toc3 \h 6

HYPERLINK \l "_Toc4 " 2 .1 Corporate Governance Principles PAGEREF _Toc4 \h 6

HYPERLINK \l "_Toc5 " 2 .2 International Institute of Finance Code of Corporate Governance : PAGEREF _Toc5 \h 10

HYPERLINK \l "_Toc6 " 3 .0 The European Commission Response PAGEREF _Toc6 \h 11

HYPERLINK \l "_Toc7

" 3 .1 New Proposals of European Commission in the area of Corporate Governance : PAGEREF _Toc7 \h 12

HYPERLINK \l "_Toc8 " 4 .0 Corporate Governance and Corporate Social Responsibility : PAGEREF _Toc8 \h 15

HYPERLINK \l "_Toc9 " 4 .1 King Report (2002 : PAGEREF _Toc9 \h 17

HYPERLINK \l "_Toc0 " 4 .2 Positive Impact of King II Report PAGEREF _Toc0 \h 19

HYPERLINK \l "_Toc1 " 5 .0 Issues surrounding Implementation of Corporate Social Responsibility Measures : PAGEREF _Toc1 \h 20 HYPERLINK \l "_Toc2 " 6 .0 Corporate Social Responsibility in the Oil Exploration and Production Industry : PAGEREF _Toc2 \h 21

HYPERLINK \l "_Toc3 " 6 .1 Economic Benefits of Oil and the Social Consequences : PAGEREF _Toc3 \h 23

HYPERLINK \l "_Toc4 " 6 .2 Social and Environmental Impacts of Oil Production : PAGEREF _Toc4 \h 23

HYPERLINK \l "_Toc5 " 6 .3 Need for Corporate Social Responsibility in the Oil Exploration and Production Areas : PAGEREF _Toc5 \h 25

HYPERLINK \l "_Toc6 " 6 .4 Environmental Impact of Oil Exploration and Production : PAGEREF _Toc6 \h 25

HYPERLINK \l "_Toc7 " 7 .0 Corporate Governance in Saudi Arabia : PAGEREF _Toc7 \h 27

HYPERLINK \l "_Toc8 " 7 .1 Corporate Governance in Saudi Arabia and Hawakamah : PAGEREF _Toc8 \h 28

HYPERLINK \l "_Toc9 " 7 .2 Corporate Governance in the Saudi Arabian Banking Sector : PAGEREF _Toc9 \h 31

HYPERLINK \l "_Toc0 " 7 .3 Role of Capital Market Authority in Corporate Governance : PAGEREF _Toc0 \h 33

HYPERLINK \l "_Toc1 " 7 .4 Further Initiatives in Corporate Governance : PAGEREF _Toc1 \h 34

HYPERLINK \l "_Toc2 " 7 .5 Corporate Social Responsibility in Saudi Arabia : PAGEREF _Toc2 \h 35

HYPERLINK \l "_Toc3 " 7 .6 Corporate Governance and Corporate Social Responsibility in Saudi Arabia : PAGEREF _Toc3 \h 38

HYPERLINK \l "_Toc4 " 8 .0 Conclusion : PAGEREF _Toc4 \h 38

HYPERLINK \l "_Toc5 " Bibliography : PAGEREF _Toc5 \h 40 Role of Corporate Governance and its Effect on the Compliance to Corporate Social Responsibility in the Oil Exploration and Production Industry with Particular Reference to Saudi Arabian Context

Executive Summary

The rapidity of the economic development of a country , among other things , depends largely on a well governed corporate administration . It had always been a ticklish issue for the government and the policymakers to frame the corporate regulations in such a way it doesn 't harm the progress and the growth of the corporate entities and at the same time to protect the interests of the internal and external stakeholders . This situation has been worsened with the advent of economic globalisation and the free movement of trade and services...