Prof. Amel Mamlouk
Professor of Private Law
College of Law, University of Qatar

Abstract:

The research highlights the balance between shareholders and management through the governance of Qatari public company listed in the main market. Its importance stems from the fact that it deals with one of the most important topics of Company Law theoretically and practically. In fact, Corporate Governance has positive effects on the corporation and its environment. The study tries to find an answer to the problem consisting in striking a balance between shareholders and managers by means of Corporate Governance within the Qatari public company listed in the main market. This topic is addressed through two axes: the balance between shareholders and managers via activation of Corporate Governance principles and applying sanctions to their violation. As for the balance between shareholders and managers through activation of Corporate Governance principles, it is manifested by the enshrinement of transparency, loyalty and stakeholders’ right’s protection. The transparency is provided via disclosing conflict of interests and information. The loyalty prevents the manager from putting his personal interest above the company’s benefit. It necessitates conflict of interest’s management and unfair competition’s rationalization. The stakeholder’s right’s protection requires giving priority to the shareholder, without neglecting other stakeholders.
Corporate Governance also achieves balance between shareholders and managers by way of sanctions applied for violating its principles. These sanctions are revocation, compensation, criminal penalties, for misuse of company’s funds or exploitation of non-public information, and expulsion. It is true that the governance of Qatari public company listed in the main market realizes balance between shareholders and managers, but this balance needs to be reinforced. That is why, the author of this paper recommended raising managers’ sense of responsibility, sensitization stakeholders to the importance of Corporate Governance and shareholders’ positive attitude. Besides, achieving balance between shareholders and managers, through Corporate Governance, needs an exterior support provided by regulatory authorities and the State.

Keywords: transparency, loyalty, stakeholders, civil sanctions, criminal penalties, and expulsion.

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