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  • Saudi Arabian IPOs and privatized firms profitability

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    74920_1.pdf (865.3Kb)
    Author(s)
    Al-Anazi, Ahmed
    Liu, Benjamin
    Forster, John
    Griffith University Author(s)
    Forster, John J.
    Al-Anazi, Ahmed ST.
    Liu, Benjamin
    Year published
    2011
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    Abstract
    A sample of 21 privatized and IPO Saudi firms has been examined in this paper. Consistent with the relative literature on privatization and IPOs, we have documented two contrasting outcomes. First, we found that Saudi State Owned Enterprises SOEs and the private joint stock companies are showing a large improvement after-IPO as compared to the pre-IPO financial performance. On the contrary, we found a financial performance deterioration among the family owned businesses or the limited liability type of firms after the IPO compared to the pre-IPO level as measured by the return on assets (ROA) and return on sales (ROS).A sample of 21 privatized and IPO Saudi firms has been examined in this paper. Consistent with the relative literature on privatization and IPOs, we have documented two contrasting outcomes. First, we found that Saudi State Owned Enterprises SOEs and the private joint stock companies are showing a large improvement after-IPO as compared to the pre-IPO financial performance. On the contrary, we found a financial performance deterioration among the family owned businesses or the limited liability type of firms after the IPO compared to the pre-IPO level as measured by the return on assets (ROA) and return on sales (ROS).
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    Journal Title
    Review of Middle East Economics and Finance
    Volume
    7
    Issue
    1
    DOI
    https://doi.org/10.2202/1475-3693.1309
    Copyright Statement
    © 2011 Berkeley Electronic Press. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
    Subject
    Finance
    Applied Economics
    Publication URI
    http://hdl.handle.net/10072/42792
    Collection
    • Journal articles

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