An Assessment of Corporate Governance Practices: A Case Study of Kuwait's State-Owned Enterprise
This thesis investigates the governance practices of a state-owned enterprise (SOE) within a Gulf Cooperation Council (GCC) economy, with particular attention to the challenges of aligning such practices with international standards. The study evaluates levels of transparency, accountability, and managerial effectiveness within SOE governance structures, and identifies critical weaknesses that undermine performance and trust. The findings reveal persistent challenges, including political influence, limited board independence, insufficient diversity, and weak oversight mechanisms. To address these issues, the thesis contributes on three levels. First, it highlights a contextual gap by providing rare empirical insights into SOE governance in the GCC region. Second, it addresses a methodological gap by employing an embedded case study that integrates academic and professional perspectives. Third, it responds to a theoretical gap by synthesising agency, stewardship, stakeholder, and resource-dependence perspectives with agile governance principles. Based on this analysis, the thesis proposes governance interventions focused on enhancing transparency, clarifying roles and responsibilities, and strengthening regulatory oversight. These reforms are positioned to improve strategic performance and accountability in SOEs, while supporting broader policy goals related to sustainability, digitalisation, and the transition to green energy.
Corporate Governance, State-owned nterprises, SOEs in GCC, Agile governance, Energy transition, Organisational performance, Assessment of corporate governance practices
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