The Outlook for Arab Gulf Cooperation

Martini, Jeffrey; Wasser, Becca; Kaye, Dalia Dassa; Egel, Daniel; Ogletree, Cordaye

doi:10.7249/rr1429

Cited by 13 publications

(5 citation statements)

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“…In contrast to the emerging markets of India and South Korea, where privileged “silver spoon” or even wealthier “golden spoon” families monopolize higher multicultural and international proficiencies (Choe, 2019; Jodhka, 2016; Kim, 2017), a much wider range of middle-class family backgrounds is included in our model of multiculturalism in the GCC (Figure 4). Although socioeconomic and family background hierarchical distinctions clearly exist within the GCC (Martini et al , 2016), asymmetric multiculturalism — partly due to oil wealth benefits and more recently also due to further government benefits extended for population appeasement after the Arab Spring (Bank et al , 2014) — is not just for the wealthy.…”

Section: Discussionmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

“…The lead researcher had the primary insider access to the organizations and respondents. Due to the strong interconnections across the Gulf countries and the emergence of a Gulf regional khaleeji identity, parallel to and in some cases superseding national identity, interviews with citizens or residents of one country yielded information and insights into all six countries of the GCC (Azzam, 1988;Colton, 2011;Martini et al, 2016;Merierding, 2016 study (AlRai, 2018;Arab Times, 2018;Gulf Business, 2018). GCC publicly traded firm size and performance data were cross-checked against the Fortune Global 500 (2020), Forbes Global 2000, and Forbes 100 Largest Companies in the Middle East (2018, 2020), as, due to geopolitical complexities (AlJazeera, 2017), Qatari firms were omitted from the Top 100 GCC Companies in 2018 (Gulf Business, 2018).…”

Section: Research Settingmentioning

confidence: 99%

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Multicultural leaders from emerging markets: transforming international acquisitions and corporate social responsibility

Park

Wallace

2021

IJOEM

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PurposeThe purpose of this paper is to explore the influence and advantages of leadership multiculturalism on global strategy development through cross-border mergers and acquisitions (CBA) and corporate social responsibility (CSR) from emerging market multinational companies (EMNCs) expanding into emerged markets. The key contribution of asymmetric multiculturalism is a novel finding based on inductive research. We fill a gap by further linking business leader characteristics and corporate strategic actions and examining how multicultural business leaders from emerging markets can be highly effective at CBA and CSR.Design/methodology/approachThe paper draws on in-depth interviews, observations and documentary evidence analyzed with iterative coding, construct definition and thematic development to understand how leadership multiculturalism affects CBA and CSR in an EMNC over time.FindingsThe new construct of leadership asymmetric multiculturalism describes strategic advantages accruing to leaders from developing markets who are culturally fluent in both emerging and emerged market milieus. The construct contributes to emergent research on the rise of multicultural leaders and their strategic advantages and delineates a pathway toward identifying advantages of emerging over emerged market business leaders.Research limitations/implicationsThe research addresses specific CBA and CSR strategies within one emerging market region and EMNC. Future research should further articulate and validate the key construct of asymmetric multiculturalism, further examine its sources, draw more explicit comparisons with data from emerged market leaders, and explore the applicability of these findings to strategic actions and advantages in both emerging and emerged markets.Practical implicationsEmerging market corporate leaders should identify and develop pertinent aspects of their own asymmetric multiculturalism in enacting CBA and CSR strategy with respect to EMNCs and firms from developed markets. Emerged market leaders should become more aware of and cultivate their own multiculturalism.Social implicationsAsymmetric multiculturalism can be accompanied by heightened awareness of global citizenship — including codes of ethics, environmental challenges, community outreach and fair labor practices — which, in tandem with CBA, can strengthen emerging market firms’ performance and reinforce their global stature and reputation.Originality/valueAsymmetric multiculturalism is a new explanatory construct in the sociological, economic and management disciplines. Emerging markets corporate leaders utilize their multicultural competence to accelerate global CBA and CSR activity and advance strategic opportunities for their firms. The identification of advantages deriving from emerging market leadership capabilities is an unusual finding given the more typical emphasis on the privileges of emerged market leaders and firms.

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Section: Discussionmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Research Settingmentioning

confidence: 99%

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Multicultural leaders from emerging markets: transforming international acquisitions and corporate social responsibility

Park

Wallace

2021

IJOEM

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“…But as it relates to GCC cohesion, the threat of domestic uprisings has a unifying effect on the six states, who are invested in similar political systems and do not want to be exposed to the contagion of unrest in a neighboring country. (Martini et al, 2016, p. 46)…”

Section: Conclusion: Will a Desire To “Fit In” Lead To Better Human R...mentioning

confidence: 99%

Human Rights in the Gulf Cooperation Council (GCC) States: Prospects for Positive Change

Walker

2023

Contemporary Review of the Middle East

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The six Gulf Cooperation Council (GCC) countries have received criticism for being slow to conform to global human rights norms. They have lagged in signing global treaties and covenants and have not enforced many of the laws they have on the books. However, for three key reasons, hope exists that continued engagement with these countries on human rights issues may lead to progress. First, despite a lack of progress in some areas, such as political and civil rights, the region has made great progress overall in just a few decades, especially regarding economic and social rights. Second, GCC countries have begun incorporating human rights language into domestic legislation and their own local discourse. Third, economic and social changes are on the horizon for the region in the medium to long term, which may lead to political changes in the next few decades.

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“…This result is in line with the research of Bouoiyour and Selmi (2019) that Kuwait and Qatar are geographically close together so that the volatility of the stock market in Kuwait increases when the crisis occurs in Qatar. Kuwait politically tries to mediate the conflict between Qatar and other Gulf countries by acting neutral, maintaining the same distance from each country as during the Qatar Crisis and Saudi Arabia (Martini, et al, 2016). There is a transfer of local information channels between individual investors that are geographically close together used in making equity decisions (Baltakys, et al, 2019).…”

Section: Djimkw Kuwait and Qear Qatarmentioning

confidence: 99%

Analyzing the Dynamics of Islamic Stock Market Indices in Several Muslim Countries

Haryono¹,

Atika²

2023

J. Professional Business Review

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Purpose: Analyzing stock price is very necessary to identify the overall price of the stock index, which the market players have various options and references to invest their money in the profitable securities portfolio. Based on the reason, the aim of this study is to examine the Islamic stock price movement in several Muslim countries joined in the Islamic Conference Organization (IOC). Theoretical Framework: This study refers to the theoretical framework that the integrated capital market can help everyone in analyzing the quality and quantity of the Islamic stock price movement, including its challenges and opportunity in the context of investment risk management. Design/Methodology/Approach: This research uses a descriptive-analytical method and comparative approach to examine the tends of Islamic stock price movement in six Muslim countries from the period January 2010 to December 2019, namely JII-Indonesia, DJIMY-Malaysia, DJTR-Turkey, DJIMKW-Kuwait, TDWL-Saudi Arabia, and QEAR-Qatar, which are analyzed quantitatively, statistically, and deductively. Findings: The results of the research show that the co-integrated of Islamic Stock Index are JII-Indonesia with DJIMY-Malaysia, JII-Indonesia and DJIMKW-Kuwait, DJIMY-Malaysia with DJIMKW-Kuwait, DJTR-Turkey with DJIMKW-Kuwait, QEAR-Qatar with DJIMKW-Kuwait. The Islamic stock index pairs confirmed through the VAR and VECM tests are only DJIMY-Malaysia with QEAR-Qatar, DJIMY-Malaysia with DJIMKW-Kuwait, and TDWL-Saudi Arabia with QEAR-Qatar. Research, Practical & Social Implications: This study becomes one example of the practical analysis of Islamic Stock Market movements that can be used to the stock market players in taking the consideration and decision for the investment in capital market. Originality/Value: This result of this study is originally limited in the Islamic stock index in six Muslim countries such as Indonesia, Malaysia, Turkey, Saudi Arabia, Qatar, and Kuwait. However, this can be explored more comprehensively in the same or various research objective by the other researchers.

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The Outlook for Arab Gulf Cooperation

Cited by 13 publications

References 10 publications

Multicultural leaders from emerging markets: transforming international acquisitions and corporate social responsibility

Multicultural leaders from emerging markets: transforming international acquisitions and corporate social responsibility

Human Rights in the Gulf Cooperation Council (GCC) States: Prospects for Positive Change

Analyzing the Dynamics of Islamic Stock Market Indices in Several Muslim Countries

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