Title: Assessing the role of family business in promoting economic growth: perspectives from Saudi Arabia

Authors: Mohamed A. Ramady, M. Sadiq Sohail

Addresses: Department of Finance and Economics, King Fahd University of Petroleum and Minerals, P.O. Box 5075, Dhahran 31261, Saudi Arabia. ' Department of Management and Marketing, College of Industrial Management, King Fahd University of Petroleum and Minerals, P.O. Box 210, Dhahran 31261, Saudi Arabia

Abstract: Family businesses play an important role in economic development across the globe, whether in developed or developing nations. Despite its importance, research on family business has attracted the attention of scholars only during the last two decades. This paper attempts to contribute to existing research in the stream of family business. The paper assesses the role of family businesses in Saudi Arabia by examining the current corporate structure and identifies the need for reforms. The paper puts forth a case for listing of family businesses and its likely consequences to the Saudi economy. Finally, the paper concludes with some policy recommendations.

Keywords: family businesses; economic growth; economic reform; structural changes; Saudi Arabia; globalisation; economic development; corporate structures; stock market; company listings; small and medium-sized enterprises; SMEs; entrepreneurs; indigenous entrepreneurship.

DOI: 10.1504/IJESB.2010.034025

International Journal of Entrepreneurship and Small Business, 2010 Vol.10 No.4, pp.447 - 459

Published online: 06 Jul 2010 *

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