Saudi Cultural Missions Theses & Dissertations
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Item Restricted THE VALUE AND COST OF POLITICAL CONNECTIONS FOR FIRMS IN SAUDI ARABIA(University of Rhode Island, 2024) Alqarni, Abdulmajeed; Goto, ShingoIn the first chapter, we examine the impact of political connections on firm value during the 2017 Saudi anti-corruption purge using a difference-in-differences event study type. Politically connected firms experienced significant pre-event negative Cumulative Abnormal Returns (CARs), driven by rumors of the purge. The average CARs were insignificant on the event day, as the effects had already been anticipated and priced in. However, firms directly involved in the purge suffered sharp post-event declines in CARs, while other firms showed positive returns. The second chapter investigates the relationship between state ownership and corporate performance in Saudi Arabia. We have found a negative association between government ownership and firm performance. State-owned enterprises pay higher dividends and have a lower leverage ratio. There are no significant differences between state-owned enterprises and non-state-owned enterprises in investment spending and efficiency. Finally, government ownership in Saudi Arabia is the highest in strategically important industries such as utilities and energy.31 0Item Restricted Employee turnover impact on firm's performance(University of Sussex, 2024-09) Aldakhil, Nada; Contrafatto, MassimoThis study investigates the impact of employee turnover on firm performance within the service-based industry, specifically focusing on companies listed on the FTSE- 350. Utilizing a quantitative, longitudinal research design, the research analyzes secondary data from financial reports to explore the relationship between employee turnover rates and key financial metrics such as profitability, liquidity, and solvency. The findings reveal a complex, non-linear relationship. The negative correlation is observed between employee turnover rate (ETR) and various performance metrics, such as return on total assets (ROA), current ratio (CR), and interest coverage (ICR). This study highlights the necessity for effective employee retention strategies and provides practical implications for managers and HR professionals aiming to optimize turnover rates for enhanced firm performance.29 0