Saudi Cultural Missions Theses & Dissertations
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Item Restricted The impact of investments made by the Saudi Public Investment Fund on the financial performance of companies that have received funding(University of Essex, 2024-09-11) Ghasib, Alya; Rowe, NicholasThe research purpose is to investigate how the Saudi public investment fund (PIF) investments affected financial performance of target companies. This performance was also compared with the investments made by the world largest sovereign wealth fund (SWF) from Norway. The study uses a sample of 142 companies for the period from 2010 to 2023. The method of analysis is panel regressions with t-tests. The dependent variables are represented by return on assets (ROA), return on capital employed (ROCE), return on equity (ROE) and net profit margin as accounting performance measures, and annual stock return as a market measure. The results reveal that both the SWF and PIF produced statistically significant negative effects on the financial performance of their target companies. This has implications for investors and corporate managers. The results are limited by the inclusion of only two funds and future studies are recommended to expand the sample to all SWFs available in the world.38 0Item Restricted The selection of financial portfolios(City Univerisity of London, 2023-11-15) Alsayara, Salem; Broom, MarkSince the release of the Saudi government's Vision 2030, Saudi Arabia has changed substantially in terms of reducing its reliance on oil as a source of revenue and diversifying its income. This paper focuses on applying modern portfolio theory to the public investment fund's investments while accounting for risk and return. Several research that have been conducted on the idea of having an optimal portfolio are mentioned in Chapter 2. Chapter 3 discusses the companies in which the public investment fund has invested. I was able to find data for 31 companies from the entire public investment fund portfolio and describe how much they invested and how much ownership they have in each. The report in Chapter 4 discusses how modern portfolio theory is computed with only three assets and how to utilise Excel's solver function for a large number of assets. In Chapter 5, the outcomes of various scenarios applied are provided for cases with maximum weight limitations and cases without these constraints. The results are discussed in further detail in Chapter 6.10 0Item Restricted The Selection of Financial Potfolios(City University of London, 2023-09-18) Alsayara, Salem; Broom, MarkSince the release of the Saudi government's Vision 2030, Saudi Arabia has changed substantially in terms of reducing its reliance on oil as a source of revenue and diversifying its income. This paper focuses on applying modern portfolio theory to the public investment fund's investments while accounting for risk and return. Several research that have been conducted on the idea of having an optimal portfolio are mentioned in Chapter 2. Chapter 3 discusses the companies in which the public investment fund has invested. I was able to find data for 31 companies from the entire public investment fund portfolio and describe how much they invested and how much ownership they have in each. The report in Chapter 4 discusses how modern portfolio theory is computed with only three assets and how to utilise Excel's solver function for a large number of assets. In Chapter 5, the outcomes of various scenarios applied are provided for cases with maximum weight limitations and cases without these constraints. The results are discussed in further detail in Chapter 6.24 0Item Restricted PIF Investments and Firms’ Financial Performance A Comparison Before, During and After Covid-19(Saudi Digital Library, 2023-12-04) Alsulami, Rehab; Fu, ServannaThe Saudi Public Investment Fund (PIF) is one of the leading Sovereign Wealth Fund (SWF) worldwide. It is indeed, ranked as one of the top 10. Recently, it has expanded its investment locally “the Saudi market” and globally. Not many studies have given attention to the impact of the Saudi “PIF” investments especially during the era of COVID-19. Purpose: This paper investigates the impact of PIF investments on the financial performance of 122 listed firms in “the Saudi Stock Market” and evaluates their financial performance before, during, and after COVID-19. Methods: Based on a panel dataset including 122 firms listed in the Saudi Stock Market 25 firms were invested by PIF. The information of all variables extracted from the EIKON database or collocated manually for the period from 2018 to 2022. This paper applies a quantitative method by using OLS regressions. Main Findings: PIF investments have a negative impact on the return on assets. Leverage has a negative effect on financial performance while current ratio and firm size have a positive effect. Firm age seems to have no effect in general but in some periods, it has a negative effect on financial performance.36 0