Kuwaiti Families and Firm Performance in Non-Financial Listed Firms
Keywords:Corporate Governance, Firm Performance, Family, Kuwait.
Family variables positively affect firm performance from a theoretical and empirical perspective. However, this relationship has not been clearly examined in several countries, including Kuwait. This study explored family members’ role on boards of directors by investigating the relationship between family variables and firm performance using data from 93 non-financial firms listed on the Kuwait Stock Exchange (KSE) from 2016 to 2018. This study divided family variables into family ownership, family directors, family CEO, and ruling family. The results indicated that the presence of ruling family members on boards provided greater value for Kuwait’s listed firms; other variables produced mixed results.
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