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Mathematical Analysis of Family Ownership and Corporate Social Responsibility: Moderating Role of Risk Taking Behavior in Saudi Firms |
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PP: 131-142 |
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doi:10.18576/jsap/150109
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Author(s) |
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Moustafa Zaki Metwalli,
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Abstract |
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| The study examines the moderating role of risk-taking behavior on the relationship between family ownership and corporate social responsibility (CSR) in Saudi firms by using panel data from 66 companies (330 firm-year observations) over 2020–2024, where regression analysis reveals that family ownership significantly and positively affects CSR, consistent with socioemotional wealth theory. Where, the strategic innovation perspective, which sees CSR as a long-term investment, is supported when risk-taking behavior shows a positive impact on CSR. Importantly, the interaction between family ownership and risk-taking amplifies CSR performance, indicating that governance structures enhance social responsibility outcomes. Furthermore, firm size consistently shows a positive effect, but profitability, leverage, and growth remain insignificant. Hence, these results highlight the importance of integrating risk-taking with family ownership to advance CSR objectives in alignment with Saudi Vision 2030 and offer practical implications for policymakers and corporate leaders. |
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