文章基本信息

标题：Family Involvement in Ownership, Management, and Firm Performance: Moderating and Direct-Effect Models
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作者：Shehabaddin Abdullah A Al Dubai ; Ku Nor Izah Ku Ismail ; Noor Afza Amran 等
期刊名称：Asian Social Science
印刷版ISSN：1911-2017
电子版ISSN：1911-2025
出版年度：2014
卷号：10
期号：14
页码：193
DOI：10.5539/ass.v10n14p193
出版社：Canadian Center of Science and Education
摘要：This study aims to provide an empirical evidence on the moderating effect of family involvement in management (family CEO and founder CEO) on the relationship between family ownership and firm’s performance. From a sample of 75 public listed companies (375 firm-year observations) in Saudi Arabia, we use a five-year interval (2007-2011) and two firm performance indicators (market to book value (MBV) and return on assets (ROA)) to test five hypotheses. The hypotheses that there is a direct impact of family ownership and founder CEO on ROA and MBV were supported respectively. The hypothetical moderating impact of family CEO and founder CEO have been partially confirmed with MBV. Overall, the findings highlight the importance of occupying CEO positions in family firms by family members, especially the founders for gaining better performance. However, the results are robust when only family firms are examined separately.