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Article

Foreign Direct Investment in GCC Countries: The Essential Influence of Governance and the Adoption of IFRS

1
College of Business, Zayed University, Abu Dhabi 144534, United Arab Emirates
2
Department of Business Administration, University of Patras, 26504 Patras, Greece
3
School of Social Sciences, Hellenic Open University, Parodos Aristotelous 18, 26335 Patras, Greece
4
Department of Management Science and Technology, University of Patras, 1 Megalou Alexandrou Str., 26334 Patras, Greece
*
Author to whom correspondence should be addressed.
Academic Editor: Shigeyuki Hamori
J. Risk Financial Manag. 2021, 14(6), 264; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14060264
Received: 4 May 2021 / Revised: 30 May 2021 / Accepted: 7 June 2021 / Published: 10 June 2021
This paper presents an analysis of the factors affecting foreign direct investments, focusing on governance quality and adoption of International Financial Reporting Standards on countries of the Gulf Cooperation Council, which are a special case of study due to their idiosyncratic characteristics, rich natural resources and geographical position. Panel data analysis was conducted, implementing three different models (Fixed Effect, Random Effect, and Arellano Bond Dynamic Model). The results show that the adoption of International Financial Reporting Standards is a strong determinant that promotes foreign direct investments. As regards the governance quality, the block of Gulf Cooperation Council countries has fulfilled the minimum level of governance pre-conditions relative to foreign direct investments. In addition, governance indicators associated with law, rules, and corruption are more influential determinants for foreign direct investments. View Full-Text
Keywords: FDI; IFRS; GCC countries; governance; panel data analysis; OLI Paradigm FDI; IFRS; GCC countries; governance; panel data analysis; OLI Paradigm
MDPI and ACS Style

Siriopoulos, C.; Tsagkanos, A.; Svingou, A.; Daskalopoulos, E. Foreign Direct Investment in GCC Countries: The Essential Influence of Governance and the Adoption of IFRS. J. Risk Financial Manag. 2021, 14, 264. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14060264

AMA Style

Siriopoulos C, Tsagkanos A, Svingou A, Daskalopoulos E. Foreign Direct Investment in GCC Countries: The Essential Influence of Governance and the Adoption of IFRS. Journal of Risk and Financial Management. 2021; 14(6):264. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14060264

Chicago/Turabian Style

Siriopoulos, Costas, Athanasios Tsagkanos, Argyro Svingou, and Evangelos Daskalopoulos. 2021. "Foreign Direct Investment in GCC Countries: The Essential Influence of Governance and the Adoption of IFRS" Journal of Risk and Financial Management 14, no. 6: 264. https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm14060264

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