Ownership Structure and Firm Performance in the Middle East: A Meta-Analysis

Yaseen Al-Janadi
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Yaseen Al-Janadi: Department of Accounting and Information Systems, College of Business and Economic, Qatar University, Doha P.O. Box 1327, Qatar

JRFM, 2021, vol. 14, issue 12, 1-23

Abstract: This paper applies a meta-analysis method to investigate the moderating impact of political stability on the relationship between ownership identities and firm performance in the Middle Eastern countries (i.e., the Arab World). The study collected 105 correlations from 46 previous studies with 11,999 observations in 11 Middle Eastern countries. The findings show that most ownership identities such as institutional ownership, government ownership, inside ownership, and family ownership have positive relationship with firm performance. Another interesting finding shows that in countries with political instability, the level of ownership identities such as institutional ownership, foreign ownership, and inside ownership play an important role in controlling companies, which leads to firm performance. The meta-analysis results reveal that different levels of political stability have an impact on the role of the majority shareholders. The findings provide evidence that the performance of ownership identities in the Middle Eastern countries remains effective, especially with the existence of fair protection rights and political stability.

Keywords: ownership structure; firm performance; meta-analysis; political stability; Middle Eastern countries; institutional ownership; government ownership; foreign ownership; family ownership; inside ownership (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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