Major shareholders and the effectiveness of the management’s advising and monitoring functions: Empirical study

This study examines the connection of major family shareholders with management’s effective attributes, namely; board size and board meetings as an interaction term among 464 manufacturing listed companies in the setting of Saudi Arabia for the period 2012-2019. The pooled OLS regression result indicated that the major family shareholders were associated negatively with management’s effectiveness. The main result documented by this study is of utmost importance to policy makers, regulators, companies, and auditors in Saudi Arabia on understanding the extent to which the major shareholders influence the degree of management’s effectiveness.