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Corporate Governance Reform in Egypt: Achievements and Challenges Ahead

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Corporate Governance

Abstract

In the recent years, Egypt has committed itself to reform corporate governance, this was urged to increase investors’ confidence in the Egyptian business environment and accordingly attract more foreign investment. So far many developments have taken place regarding corporate governance reform but still many challenges do exist. This paper offers an analytical account of evolution of corporate governance in Egypt, and identifies the main deriving forces of this reform and the challenges ahead. Overall, this paper contributes to literature on international corporate governance, and offers policy makers the understanding that can better guide corporate governance reform in the future.

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Notes

  1. 1.

    The EIOD was established as an affiliate of the ministry of foreign trade, in 2003 its affiliation has changed to the ministry of investment and finally in 2011 it has changed once again to work under direct supervision of the Egyptian Financial supervision authority chairman.

  2. 2.

    This code was written by the chairman of the general authority for investment and free zones (GAFI) in cooperation with the chairman of Cairo and Alexandria stock exchanges. However, it was decided to submit the code to the EIOD for adoption and promotion amongst the business community (ECOCG 2005).

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Author information

Authors and Affiliations

  1. Faculty of Business and Law, Newcastle Business School, Northumbria University, City Campus East-Office 247, Newcastle, NE1 8ST, UK

    M. Karim Sorour

Authors
  1. M. Karim Sorour
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Corresponding author

Correspondence to M. Karim Sorour .

Editor information

Editors and Affiliations

  1. London Metropolitan University London Metropolitan Business School, London, United Kingdom

    Samuel O Idowu

  2. İktisadi ve İdari Bilimler Fakültesi İşletme Bölümü, Trakya Universitesi, Edirne, Edirne, Turkey

    Kiymet Tunca Çaliyurt

Appendix: Interview Questions and Details of Interviewees

Appendix: Interview Questions and Details of Interviewees

  1. 1.

    What is the current status of corporate governance in Egypt?

  2. 2.

    Do you think Egypt has achieved progress in corporate governance reform? Why?

  3. 3.

    What are the derivers of corporate governance reform?

  4. 4.

    Who are the main players of corporate governance reform?

  5. 5.

    Is corporate governance derived by the objective of achieving legitimacy?

  6. 6.

    Is the reform going in the right direction? Why?

  7. 7.

    What are the obstacles of corporate governance reform?

  8. 8.

    What is the impact of recent changes on the corporate governance reform?

1.1 Participants

Two Corporate governance experts who have been involved in the reform process through the government in addition to a SOC chairman who has been engaged in corporate governance improvement.

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Sorour, M.K. (2014). Corporate Governance Reform in Egypt: Achievements and Challenges Ahead. In: Idowu, S., Çaliyurt, K. (eds) Corporate Governance. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-45167-6_8

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