Title: The nexus between ownership structure and firm performance: the role of the Big 4 as moderator. A further analysis. Saudi evidence

Authors: Ebrahim Mohammed Al-Matari

Addresses: Department of Accounting, College of Business, Jouf University, Kingdom of Saudi Arabia

Abstract: This study examines how ownership structure and company performance interact. Its goal is to investigate how the Big Four moderates the link between ownership structure and company performance. Using information from annual reports and DataStream, the study population consists of 1,393 company observations from financial and nonfinancial enterprises. The study used ordinary least squares regression to assess direct and non-direct correlations. The results reveal that the ownership structure has a significant relationship with firm performance. Moreover, this study found that the Big 4 has a significant moderating effect on the effectiveness of ownership structure and a significant relationship with firm performance. This study provides novel perspectives on the relationship between ownership structure and business performance, and the potential impact of Big 4 monitoring on ownership structure within an emerging economy.

Keywords: ownership structure; firm performance; Big4; Saudi market.

DOI: 10.1504/IJMFA.2026.152745

International Journal of Managerial and Financial Accounting, 2026 Vol.18 No.2, pp.224 - 249

Received: 02 Mar 2024
Accepted: 06 Aug 2024
Published online: 09 Apr 2026 *

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