Abstract
Our study investigates the impact of government ownership on firm performance in the MENA region. While extant studies have presented mixed findings with diverse samples from developed or developing countries, state-owned enterprises in the Middle East and North Africa (MENA) region have received little attention despite their substantial scale. Based on a sample of 1215 MENA firms from year 2010 to 2017, we examine the relationship between government ownership and firm performance. Furthermore, we unpack this relationship by scrutinizing the moderating roles of pyramid ownership structure and government identity (domestic vs. foreign). We find that government ownership enhances firm performance in the MENA region. However, the advantages of government ownership diminish if such state-owned enterprises have lengthy control chains or foreign identity.
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