Economic Value of Energy and Petrochemical Companies and Multiple Directorships: Evidence from Saudi Arabia

The existence of multiple directorships is the case when a board member serving on two or more boards number other external appointments. This study aims to examine impact firm’s economic values among Saudi listed companies using busyness hypothesis. As for methodology, this collected secondary data from annual reports that include corporate governance and firm-specific characteristics. In addition, reviewed extant research related firms’ values. Using sample 140 Energy Petrochemical period 2012-2019, Ordinary-Least Square (OLS) results show busy directors negatively influence value, measured as ROA ROE. findings have theoretical implications in manner gives support hypothesis context, which considered different setting studies conducted developed developing countries terms politics, factors, culture. adds additional empirical evidence unique Arabia. could practical policymakers, shareholders, management, auditors, stakeholders gaining deeper understanding how value.