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Statistical Analysis to Moderating Role of Family Ownership in the relation between ESG Disclosure and Financial Performance: Evidence from Saudi Market |
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PP: 491-503 |
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doi:10.18576/jsap/150309
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Author(s) |
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Samhi Abdelaty Difalla,
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Abstract |
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| This study investigates the moderating role of family ownership in the relationship between Environmental, Social,
and Governance (ESG) disclosure and financial performance (FP) among publicly listed firms in Saudi Arabia. Using a sample of 500 firm-year observations between 2019 and 2023, the findings reveal that ESG disclosure significantly enhances FP, particularly when all three dimensions (E, S, and G) are integrated into a composite index. Also, family ownership demonstrates a positive, though moderate, and directs effect on FP. Most importantly, the interaction between family ownership and ESG disclosure shows a strong moderating effect, indicating that family-controlled firms benefit more from ESG practices in terms of financial outcomes. The study contributes to the literature by highlighting ownership structure as
a key contextual factor and recommends enhancing ESG disclosure frameworks |
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