The level of human capital development depends upon the quality of education and training which in many developing countries is low. In addition, the quality of human skills and knowledge is one of the key determinants of inward foreign direct investment (IFDI) in to developing countries. Literature witnessed the knowledge and skills gaps despite substantial investment in the education, training and human capital development. IFDI could fill the knowledge and skills gap in host developing countries. The aim of this research is to examine the impact of IFDI on human capital development in developing countries through FMNE subsidiaries' human resource development and training programmes on local managers' knowledge and skills development and the resultant impacts on local organisations and thereby on local human capital development. Qualitative methodology applied to analyse semistructured interviews with a convenience sample of 24 managers working in FMNE subsidiaries and local organisations in the Kingdom of Saudi Arabia (KSA). Findings showed that FMNE subsidiaries consider the development of knowledge, skills and abilities of the local managers as a strategic investment. Consequently, short and long training and development (T&D) programmes for local managers are provided both locally and overseas. FMNE subsidiaries trained local managers move from FMNE subsidiaries to local organisations for financial benefits, career progression and other reasons such as higher authority, balance between work and family, favourable location, avoiding work pressure and job security and stability. The mobility of FMNE subsidiaries trained local managers to local organisations leads to human skills and knowledge spillovers such as transfer of knowledge and skills, advancement of professional capabilities, improvement in work behaviours and development of intrapreneurial skills. These spillovers result in upgrading of management skills, availability of intrapreneurial skills, changes in work behaviour and ethics and improvement in capabilities and performance in local organisations. IFDI by FMNE subsidiaries thus leads to positive impacts on the local human capital development such as development of local knowledge and skills, leadership, professional capabilities and competencies in host developing countries. This study provides evidence that IFDI has positive contributions in local human capital development in host developing countries. Natural resource rich countries like the KSA should focus on good IFDI that not only exploits the natural resources but also contributes to local human capital development.

Groups of companies offer considerable economic and practical advantages over other forms of business organizations. However, the phenomenon creates a long list of problems in terms of antitrust law, tax law, labour law, corporate law, and in the case of international companies, conflict of laws. National laws do not provide a complete solution to these problems because groups of companies are still governed by traditional corporate law, which is designed to govern single independent companies. On the other hand, harmonization of the law of corporate groups across Common legal systems is neither feasible not advisable. The most important problem which has not yet been completely solved by Common law systems is the liability of groups of companies for the debts of their subsidiaries. This has been described as "one of the great unsolved problems of modern company law". The present study aims to analyse the solutions provided by Common law systems to this problem and evaluate if they provide a solid settlement or whether further safeguards are needed for those dealing with corporate groups, namely minority shareholders and outsiders including creditors. By using a comparative approach with the Islamic law system, the study evaluates if the Common law solutions are also applicable in such a religious system or whether, due to its unique character Islamic law needs to create its own solution. This comparative approach assesses the possibilities of harmonization between Common law and Islamic law systems and promotes the Islamisation of modern laws in Islamic countries.