Family involvement and firm performance: Evidence from Saudi Arabia

Family involvement and firm performance: Evidence from Saudi Arabia

Economies around the world are full of family businesses, the main and significant players in the growth of a nation. Saudi Arabia is no exception. As a result, family firm performance is considered as an important variable in the context of financial and management research. This study investigate...

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Main Author: Al-Dubai, Shehabaddin Abdullah Abdul Wadod
Format: Thesis
Language:eng
eng
Published: 2014
Subjects:
HD28-70 Management
Industrial Management
HF5001-6182 Business
Online Access:https://etd.uum.edu.my/4369/1/s93490.pdf
https://etd.uum.edu.my/4369/2/s93490_abstract.pdf
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id my-uum-etd.4369
record_format uketd_dc
institution Universiti Utara Malaysia
collection UUM ETD
language eng
eng
advisor Ku Ismail, Ku Nor Izah
Amran, Noor Afza
topic HD28-70 Management
Industrial Management
HF5001-6182 Business
spellingShingle HD28-70 Management
Industrial Management
HF5001-6182 Business
Al-Dubai, Shehabaddin Abdullah Abdul Wadod
Family involvement and firm performance: Evidence from Saudi Arabia
description Economies around the world are full of family businesses, the main and significant players in the growth of a nation. Saudi Arabia is no exception. As a result, family firm performance is considered as an important variable in the context of financial and management research. This study investigates the relationship between family involvement in ownership, management, control, and succession, as well as the presence of other blockholders on firm performance. Using longitudinal data from a panel of 38 non-financial Saudi family publiclisted companies (190 firm-year observations) from 2007 to 2011, and employing two different performance indicators (MBV and ROA), this study provides a sharp insight and deep understanding of the family firm characteristics and their influence on firm performance. The results provide strong evidence of the outperformance of family firms. However, when the non-linearity of family ownership is taken into account, the results become different; firm value decreases when family ownership increases from 0 to 31 per cent, and the relationship is positive beyond the 31 per cent level. Further, it is found that the positive impact of family ownership depends mainly on whether the CEO positions are occupied by the founders or not. In other words, founder CEOs play important roles in improving the firms' market and accounting performance. Family involvement on the board of directors is also found to be positively related to firm value, indicating that family directors are considered as stewards of the companies. Thus, they work for the benefit of the firms and the shareholders, In terms of the presence of other blockholders in ownership, this study documents its negative impact on market performance. In contrast, the presence of other blockholders in management positively influences firm accounting performance The results, in general, are statistically and methodologically robust.
format Thesis
qualification_name Ph.D.
qualification_level Doctorate
author Al-Dubai, Shehabaddin Abdullah Abdul Wadod
author_facet Al-Dubai, Shehabaddin Abdullah Abdul Wadod
author_sort Al-Dubai, Shehabaddin Abdullah Abdul Wadod
title Family involvement and firm performance: Evidence from Saudi Arabia
title_short Family involvement and firm performance: Evidence from Saudi Arabia
title_full Family involvement and firm performance: Evidence from Saudi Arabia
title_fullStr Family involvement and firm performance: Evidence from Saudi Arabia
title_full_unstemmed Family involvement and firm performance: Evidence from Saudi Arabia
title_sort family involvement and firm performance: evidence from saudi arabia
granting_institution Universiti Utara Malaysia
granting_department Othman Yeop Abdullah Graduate School of Business
publishDate 2014
url https://etd.uum.edu.my/4369/1/s93490.pdf
https://etd.uum.edu.my/4369/2/s93490_abstract.pdf
_version_ 1747827724462850048
spelling my-uum-etd.43692022-04-09T23:27:40Z Family involvement and firm performance: Evidence from Saudi Arabia 2014 Al-Dubai, Shehabaddin Abdullah Abdul Wadod Ku Ismail, Ku Nor Izah Amran, Noor Afza Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduate School of Business HD28-70 Management. Industrial Management HF5001-6182 Business Economies around the world are full of family businesses, the main and significant players in the growth of a nation. Saudi Arabia is no exception. As a result, family firm performance is considered as an important variable in the context of financial and management research. This study investigates the relationship between family involvement in ownership, management, control, and succession, as well as the presence of other blockholders on firm performance. Using longitudinal data from a panel of 38 non-financial Saudi family publiclisted companies (190 firm-year observations) from 2007 to 2011, and employing two different performance indicators (MBV and ROA), this study provides a sharp insight and deep understanding of the family firm characteristics and their influence on firm performance. The results provide strong evidence of the outperformance of family firms. However, when the non-linearity of family ownership is taken into account, the results become different; firm value decreases when family ownership increases from 0 to 31 per cent, and the relationship is positive beyond the 31 per cent level. Further, it is found that the positive impact of family ownership depends mainly on whether the CEO positions are occupied by the founders or not. In other words, founder CEOs play important roles in improving the firms' market and accounting performance. Family involvement on the board of directors is also found to be positively related to firm value, indicating that family directors are considered as stewards of the companies. Thus, they work for the benefit of the firms and the shareholders, In terms of the presence of other blockholders in ownership, this study documents its negative impact on market performance. In contrast, the presence of other blockholders in management positively influences firm accounting performance The results, in general, are statistically and methodologically robust. 2014 Thesis https://etd.uum.edu.my/4369/ https://etd.uum.edu.my/4369/1/s93490.pdf text eng public https://etd.uum.edu.my/4369/2/s93490_abstract.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia 7DAYS. (2009). The heat is on Retrieved March 27, 2012, from http://www.7daysindubai.com/heat/ story-15468168-detaill/story.html. Abdullah, F., Shah, A., Iqbal, A. M., & Gohar, R, (2011). 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