Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia
The existence of multiple directorships is the case when a board member is serving on two or more boards or a number of other external appointments. This study aims to examine the impact of multiple directorships on a firm’s economic values among Saudi listed companies using the busyness hypothesis....
- Autores:
-
Salmen Aljaaidi, Khaled
- Tipo de recurso:
- Fecha de publicación:
- 2022
- Institución:
- Universidad EAFIT
- Repositorio:
- Repositorio EAFIT
- Idioma:
- eng
- OAI Identifier:
- oai:repository.eafit.edu.co:10784/33190
- Acceso en línea:
- http://hdl.handle.net/10784/33190
- Palabra clave:
- Corporate governance
Multiple directorships
Economic value
Emerging markets
Saudi Arabia
Gobierno corporativo
Directorio múltiple
Desempeño de la empresa
Mercados emergentes
Arabia Saudita
- Rights
- License
- Copyright © 2022 khaled Salmen Aljaaidi
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|
dc.title.eng.fl_str_mv |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia |
dc.title.spa.fl_str_mv |
Valor económico de las empresas de energía y petroquímica y directorios múltiples: evidencia de Arabia Saudita |
title |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia |
spellingShingle |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia Corporate governance Multiple directorships Economic value Emerging markets Saudi Arabia Gobierno corporativo Directorio múltiple Desempeño de la empresa Mercados emergentes Arabia Saudita |
title_short |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia |
title_full |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia |
title_fullStr |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia |
title_full_unstemmed |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia |
title_sort |
Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia |
dc.creator.fl_str_mv |
Salmen Aljaaidi, Khaled |
dc.contributor.author.spa.fl_str_mv |
Salmen Aljaaidi, Khaled |
dc.contributor.spa.fl_str_mv |
Prince Sattam bin Abdulaziz University |
dc.subject.keyword.eng.fl_str_mv |
Corporate governance Multiple directorships Economic value Emerging markets Saudi Arabia |
topic |
Corporate governance Multiple directorships Economic value Emerging markets Saudi Arabia Gobierno corporativo Directorio múltiple Desempeño de la empresa Mercados emergentes Arabia Saudita |
dc.subject.keyword.spa.fl_str_mv |
Gobierno corporativo Directorio múltiple Desempeño de la empresa Mercados emergentes Arabia Saudita |
description |
The existence of multiple directorships is the case when a board member is serving on two or more boards or a number of other external appointments. This study aims to examine the impact of multiple directorships on a firm’s economic values among Saudi listed companies using the busyness hypothesis. As for the methodology, this study collected secondary data from the annual reports of the listed companies that include corporate governance and firm-specific characteristics. In addition, this study reviewed the extant research related to the multiple directorships and firms’ economic values. Using a sample of 140 Energy and Petrochemical companies for the period 2012-2019, the Ordinary-Least Square (OLS) results show that busy directors negatively influence the firm’s economic value, measured as ROA and ROE. The findings of this study have theoretical implications in a manner that gives support to the busyness hypothesis in the Saudi context, which is considered a different setting from other studies conducted in other developed and developing countries in terms of politics, economic factors, and culture. This study adds additional empirical evidence in the unique setting of Saudi Arabia. In addition, the findings of this study could have practical implications to policymakers, shareholders, management, auditors, and other stakeholders in gaining a deeper understanding of how multiple directorships negatively influence the firm’s economic value. |
publishDate |
2022 |
dc.date.issued.none.fl_str_mv |
2022-12-12 |
dc.date.available.none.fl_str_mv |
2023-12-13T16:11:00Z |
dc.date.accessioned.none.fl_str_mv |
2023-12-13T16:11:00Z |
dc.date.none.fl_str_mv |
2022-12-12 |
dc.type.eng.fl_str_mv |
article info:eu-repo/semantics/article publishedVersion info:eu-repo/semantics/publishedVersion |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 http://purl.org/coar/resource_type/c_2df8fbb1 |
dc.type.spa.spa.fl_str_mv |
Artículo |
status_str |
publishedVersion |
dc.identifier.issn.none.fl_str_mv |
2256-4322 1692-0279 |
dc.identifier.uri.none.fl_str_mv |
http://hdl.handle.net/10784/33190 |
dc.identifier.doi.none.fl_str_mv |
10.17230/Ad-minister.41.6 |
identifier_str_mv |
2256-4322 1692-0279 10.17230/Ad-minister.41.6 |
url |
http://hdl.handle.net/10784/33190 |
dc.language.iso.none.fl_str_mv |
eng |
language |
eng |
dc.relation.isversionof.none.fl_str_mv |
http://publicaciones.eafit.edu.co/index.php/administer/article/view/7219 |
dc.relation.uri.none.fl_str_mv |
http://publicaciones.eafit.edu.co/index.php/administer/article/view/7219 |
dc.rights.eng.fl_str_mv |
Copyright © 2022 khaled Salmen Aljaaidi |
dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
dc.rights.accessrights.eng.fl_str_mv |
openAccess |
dc.rights.acceso.spa.fl_str_mv |
Libre acceso |
rights_invalid_str_mv |
Copyright © 2022 khaled Salmen Aljaaidi openAccess Libre acceso http://purl.org/coar/access_right/c_abf2 |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.spa.fl_str_mv |
Universidad EAFIT |
dc.source.spa.fl_str_mv |
AD-minister: No 41 (2022) |
institution |
Universidad EAFIT |
bitstream.url.fl_str_mv |
https://repository.eafit.edu.co/bitstreams/59cd96be-d7df-46be-9edb-c61be9bfecff/download |
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594366a16a8b87e50d03fa2de150a1fa |
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MD5 |
repository.name.fl_str_mv |
Repositorio Institucional Universidad EAFIT |
repository.mail.fl_str_mv |
repositorio@eafit.edu.co |
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1814110466753953792 |
spelling |
Prince Sattam bin Abdulaziz UniversitySalmen Aljaaidi, Khaled2022-12-122023-12-13T16:11:00Z2022-12-122023-12-13T16:11:00Z2256-43221692-0279http://hdl.handle.net/10784/3319010.17230/Ad-minister.41.6The existence of multiple directorships is the case when a board member is serving on two or more boards or a number of other external appointments. This study aims to examine the impact of multiple directorships on a firm’s economic values among Saudi listed companies using the busyness hypothesis. As for the methodology, this study collected secondary data from the annual reports of the listed companies that include corporate governance and firm-specific characteristics. In addition, this study reviewed the extant research related to the multiple directorships and firms’ economic values. Using a sample of 140 Energy and Petrochemical companies for the period 2012-2019, the Ordinary-Least Square (OLS) results show that busy directors negatively influence the firm’s economic value, measured as ROA and ROE. The findings of this study have theoretical implications in a manner that gives support to the busyness hypothesis in the Saudi context, which is considered a different setting from other studies conducted in other developed and developing countries in terms of politics, economic factors, and culture. This study adds additional empirical evidence in the unique setting of Saudi Arabia. In addition, the findings of this study could have practical implications to policymakers, shareholders, management, auditors, and other stakeholders in gaining a deeper understanding of how multiple directorships negatively influence the firm’s economic value.La existencia de dirección múltiple es el caso cuando un miembro de la junta se desempeña en dos o más juntas o una serie de otros nombramientos externos. Este estudio tiene como objetivo examinar el impacto de la dirección múltiple en los valores económicos de la empresa entre las empresas saudíes que cotizan en bolsa utilizando la hipótesis de actividad. En cuanto a la metodología, este estudio recopiló los datos secundarios de los informes anuales de las empresas cotizadas que incluyen el gobierno corporativo y las características específicas de la empresa. Además, este estudio revisó la investigación existente relacionada con los múltiples directorios y los valores económicos de las empresas. Utilizando una muestra de 140 empresas de energía y petroquímica para el período 2012-2019, los resultados de los mínimos cuadrados ordinarios (OLS) muestran que los directores ocupados influyen negativamente en el valor económico de la empresa, medido como ROA y ROE. Los hallazgos de este estudio tienen implicaciones teóricas en el sentido de que respalda la hipótesis del ajetreo en el contexto saudí, que se considera un escenario diferente de otros estudios realizados en otros países desarrollados y en desarrollo en términos de política, economía y cultura. Este estudio agrega una evidencia empírica adicional en el entorno único de Arabia Saudita. Además, los hallazgos de este estudio podrían tener implicaciones prácticas para los formuladores de políticas, los accionistas, la gerencia, los auditores y otras partes interesadas para obtener una comprensión más profunda de cómo la dirección múltiple influye negativamente en el valor económico de la empresa.application/pdfengUniversidad EAFIThttp://publicaciones.eafit.edu.co/index.php/administer/article/view/7219http://publicaciones.eafit.edu.co/index.php/administer/article/view/7219Copyright © 2022 khaled Salmen AljaaidiopenAccessLibre accesohttp://purl.org/coar/access_right/c_abf2AD-minister: No 41 (2022)Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi ArabiaValor económico de las empresas de energía y petroquímica y directorios múltiples: evidencia de Arabia Sauditaarticleinfo:eu-repo/semantics/articlepublishedVersioninfo:eu-repo/semantics/publishedVersionArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Corporate governanceMultiple directorshipsEconomic valueEmerging marketsSaudi ArabiaGobierno corporativoDirectorio múltipleDesempeño de la empresaMercados emergentesArabia SauditaAD-minister41149166THUMBNAILadminister_41.pngadminister_41.pngimage/png40509https://repository.eafit.edu.co/bitstreams/59cd96be-d7df-46be-9edb-c61be9bfecff/download594366a16a8b87e50d03fa2de150a1faMD5110784/33190oai:repository.eafit.edu.co:10784/331902023-12-13 11:36:06.072metadata.onlyhttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.co |