Does cultural economics affect country’s competitiveness?

Abstract

The aim of this paper was to reveal the impact of corporate governance on sustainable development in Jordan: field study on stakeholders in companies of King Abdullah II Industrial City. The main objective of this paper was to evaluate the impact of corporate governance, with its dimensions (fairness & justice, Disclosure & transparency, Accountability, Monitoring and follow-up), on sustainable development, with its dimensions of (economic development, social development, environmental development, and technological development). To achieve the study's objectives, a quantitative analytical approach was used, which included collecting data and information from stakeholders of companies operating in the King Abdullah II Industrial City in Jordan. A sample of (134) stakeholders from these companies was selected, and a questionnaire was distributed for this purpose. Statistical methods were used such as the arithmetic mean, standard deviation, and regression analysis. The study revealed a positive impact of corporate governance on sustainable development in Jordan. The overall level of corporate governance was high, and the results indicated that the level of sustainable development was also high exception of the environmental development dimension was moderate. The monitoring and follow-up dimension achieved the highest level, followed by disclosure and transparency, then equity and justice, and finally accountability. Regarding the sustainable development dimension, a high level of achievement was observed. Analysis of the three sub-dimensions—economic, social, and technological—showed a high level, while the environmental development dimension was moderate. The study recommended increasing attention to positive environmental practices, raising environmental awareness, holding institutions that harm the environment accountable, ensuring compliance with environmental legislation and laws, focusing on social development aspects by providing job opportunities, reducing unemployment, improving wages, prioritizing the needs and interests of local communities and stakeholders, and strengthening practices in the economic and technological development dimensions.

Keyword : Corporate governance, sustainable development, Jordan