Assessing the Role of Family Business in Promoting Economic Growth: Perspectives from 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.