TREND OF DIVIDENDS DISAPPEARING AND REAPPEARING IN PAKISTANI LISTED FIRMS
Download| Volume 15 Issue 1 2019 | |
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| Author(s): |
Abdul Hameed
Muhammad Ayub Khan Maher
Akhtiar Ali
Mohammad Mohsin Khan
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| Abstract | The objective of this study was to explore the main factors of dividend policy determinants. For this purpose, a sample of 150 listed firms in PSX was taken into account from 2008 to 2018. Secondary data taken from SBP publication, Stock exchange collected for this study, and variables used size, debt ratio, profitability, size, investment, Firm’s Maturity, Market Capitalization, Return on Equity (ROE), Growth in Sales and leverage was utilized using Panel regression techniques. Data of dividend shows most of the period dividend amount and dividend firms increased during the period of research 2008-18. The trend also shows that dividend patterns increase as the base year data to end period study during both democratic governments. Study findings also show that three different aspects of the dividend payment propensity during 2008-2018. Results show that payment of dividend is declined mostly in the small and new firms because they have less income generated from profit, younger firms, and firms as compared with highly investment pattern of a firm, high debts, higher risk in their business and high tax rates on dividends. The study also finds a significant and positive association with a propensity to pay a dividend of catering theory and support the catering theory. |
| Keywords | Brand Equity, Perceived Sales Promotion Intensity, Uniqueness, Brand Attitude |
| Year | 2019 |
| Volume | 15 |
| Issue | 1 |
| Type | Research paper, manuscript, article |
| Recognized by | Higher Education Commission of Pakistan, HEC | Category | "Y" | Journal Name | IBT Journal of Business Studies | Publisher Name | ILMA University | Jel Classification | G32 | DOI | http://dx.doi.org/10.46745/ilma.jbs.2019.15.01.09 | ISSN no (E, Electronic) | 2409-6520 | ISSN no (P, Print) | 2416-8393 | Country | Pakistan | City | Karachi | Institution Type | University | Journal Type | Open Access | Type of Review | Double Blind Peer Reviewed | Format | Paper Link | http://ibtjbs.ilmauniversity.edu.pk/journal/jbs/15.1/9.pdf | Page | 112-122 | References | Acharya, V. V., Gujral, I., Kulkarni, N., & Shin, H. S. (2011), “Dividends and bank capital in the financial crisis of 2007-2009” (Working paper w16896). Cambridge, MA: National Bureau of Economic Research. Agarwal, R. N. (2000). “Capital market development, corporate financing pattern, and economic growth in India (Working paper 01/2000).” New Delhi, India: Institute of Economic Growth. Amihud, Y., & Li, K. 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