scholarly journals Corporate Payout Policy and Market Capitalization: Evidence from Pakistan

2012 ◽  
Vol 4 (6) ◽  
pp. 331-343
Author(s):  
Mian Sajid Nazir ◽  
Muhammad Musarrat Nawaz .
Keyword(s):  
Interest Rates ◽  
Random Effect ◽  
Payout Policy ◽  
Dividend Yield ◽  
Strong Negative Correlation ◽  
Market Capitalization ◽  
Earnings Per Share ◽  
Size Growth ◽  
The Relationship ◽  
Positive Significant Correlation

Present study examines the relationship between corporate payout policy and market capitalization by studying payout ratio and dividend yield as measures of payout policy and controlling other variables of size, growth, EPS, Leverage, GDP growth, and Interest rates. Different statistical techniques of correlation, regression, fixed effect and random effect are applied on pooled and panel data to find out the relationship between corporate payout policy and market capitalization. The results show that measures of corporate payout policy, dividend yield and payout ratio has strong negative correlation with market capitalization. Control variables of size and leverage have positive significant correlation with market capitalization while higher earnings per share are leading it negatively and these relationships are statistically significant at various levels of significance. Overall results suggested that the corporate payout policy has significant impact on market capitalization in Pakistan and this notion is consistent with the earlier studies.

scholarly journals Accelerating Company Performance through Dividend Payout Policy: A Trend Analysis of Automobile Sector Listed in Pakistan Stock Exchange

2021 ◽  
Vol 7 (1) ◽  
pp. 117-141
Author(s):  
Nisar Ahmad ◽  
Mohsin Nazir ◽  
Naseer Abbas
Keyword(s):  
Business Performance ◽  
Stock Exchange ◽  
Random Effect ◽  
Payout Policy ◽  
Company Performance ◽  
Dividend Payout ◽  
Size Growth ◽  
Equity Ratio ◽  
Relationship Of ◽  
The Relationship

The study explains the relationship of dividend payout policy on the business performance of companies that exist in automobile sector of Pakistan. 100 companies are selected from automobile sector. Relationship of dividend payout policy and business performance was controlled with four variables based on relevant theories. These variables include size of company, growth of company leverage debt to equity ratio and corporate governance index. Panel data is collected from 2012-2017 six years and then analyzed with unit root, descriptive statistics, correlation analysis, OLS regression, Lagrange multiplier, Huasman test, fixed effect and Random effect models. Following key findings for each research objective were obtained by applying the adopted research method on the data through the adopted method of analyses: The results showed that the automobile companies showed positive relationship between their dividend payout policy and profitability and it was concluded that both dependent and independent variables are positively related in this sector and size, growth and leverage are the controlling predictors of the relationship.

scholarly journals The effects of financial factors on Peruvian mining companies share price

Accounting ◽  
2021 ◽  
pp. 373-380 ◽  
Author(s):  
Almendra Carhuamaca-Flores ◽  
Vania Malena Almonacid-Carranza ◽  
Nivardo Alonzo Santillan-Zapata ◽  
Pedro Bernabe Venegas-Rodriguez ◽  
Jimmy Alberth Deza-Quispe
Keyword(s):  
Fixed Effects ◽  
Share Price ◽  
Relative Importance ◽  
Dividend Yield ◽  
Book Value ◽  
Share Prices ◽  
Financial Factors ◽  
Earnings Per Share ◽  
Fixed Effects Regression ◽  
The Relationship

This research analyses the relationship and relative importance of financial factors on the Peruvian mining copper companies´ share prices from 2010 to 2018. Voting common share prices were focused and book value, dividend per share, dividend yield, price earnings, earnings per share and roe were employed as regressors. Fixed-effects regression was used, and tests of stationarity, distribution, and specification harnessed. It was found that earnings per share and dividend yield had a positive and significant relationship with share prices, while book value had a negative one.

Litigation risk and payout policy

2020 ◽  
Vol 46 (11) ◽  
pp. 1391-1406
Author(s):  
James Malm ◽  
Srinidhi Kanuri
Keyword(s):  
Negative Relationship ◽  
Payout Policy ◽  
Business Community ◽  
Litigation Risk ◽  
Dividend Yield ◽  
Tobit Regression ◽  
Dividend Payout ◽  
Content Type ◽  
Regression Techniques ◽  
The Relationship

PurposeThe purpose of the paper is to examine the relationship between litigation risk and payout policy.Design/methodology/approachThe authors employ various regression techniques including probit, logit and tobit regression methodologies to study the relationship between litigation risk (contemporaneous measures, litigation dummy) and payout policy (dividend payout likelihood and dividend yield). The authors also conduct several robustness tests.FindingsThe authors find that firms involved in a lawsuit have a lower propensity to distribute dividends to shareholders. In particular, the authors document a negative relationship between litigation risk and payout policy as measured by dividend payout likelihood and dividend yield. The results are robust to a series of robustness tests including using alternate regression specifications, alternate measures of litigation and payout policy, a propensity-score matched sample and using an instrumental variable.Originality/valueThe paper identifies another determinant of payout policy and documents another avenue whereby legal institutions affect corporate payout policy. The link between litigation risk and payout policy is of interest to the business community, financial economists, management and the investing public.

scholarly journals A CRITICAL REVIEW OF COMPANY PERFORMANCE IN RESPONSE TO DIVIDEND PAYOUT POLICY IN THE PERSPECTIVE OF PAKISTAN

2021 ◽  
Vol 8 (2) ◽  
pp. 16-39
Author(s):  
Dr. Nisar Ahmad Bazmi
Keyword(s):  
Corporate Governance ◽  
Business Performance ◽  
Random Effect ◽  
Payout Policy ◽  
Company Performance ◽  
Dividend Payout ◽  
Governance Index ◽  
Size Growth ◽  
Equity Ratio ◽  
Relationship Of

The current study explains the relationship of dividend payout policy on the business performance of companies that exist in sugar of Pakistan. 100 companies are selected from sugar sector. Relationship of dividend payout policy and business performance was controlled with four variables based on relevant theories. These variables include size of company, growth of company, leverage (debt to equity ratio) and corporate governance index. Panel data is collected from 2012-2017 (six years) and then analyzed with unit root, descriptive statistics, correlation analysis, OLS regression, Lagrange multiplier, Huasman test, Fixed effect and Random effect models. Following key findings for each research objective were obtained by applying the adopted research method on the data through the adopted method of analyses: The results of the study show sugar companies showed no sign of a relationship between their dividend payout policy and profitability and so there is no controlling factor effective due to the absence of any relationship. Thus, the hypotheses were rejected in case of these two industries. Key Words: Company Performance, Dividend Policy, Tobin’s Q, Size, Growth, Leverage, Corporate Governance Index, Dividend Payout

Bidirectional Relationship between Firm Performance and Dividend Payout Policy: A Study of Chemical Sector in Emerging Economies in Pakistan

2021 ◽  
Vol 7 (3) ◽  
Author(s):  
Nisar Ahmad Bazmi ◽  
Sh.Khurram Abid ◽  
Samia Maqbool
Keyword(s):  
Business Performance ◽  
Random Effect ◽  
Payout Policy ◽  
Dividend Payout ◽  
Bidirectional Relationship ◽  
Equity Ratio ◽  
Company Growth ◽  
Relationship Of ◽  
The Relationship ◽  
Random Effect Models

The study explains the relationship of dividend payout policy on the business performance of companies that exist in Chemical of Pakistan. 100 companies are selected from Chemical sector. Relationship of dividend payout policy and business performance was controlled with four variables based on relevant theories. These variables include size of company, growth of company, leverage (debt to equity ratio) and corporate governance index. Panel data is collected from 2012-2017 (six years) and then analyzed with unit root, descriptive statistics, correlation analysis, OLS regression, Lagrange multiplier, Huasman test, Fixed effect and Random effect models. Following key findings for each research objective were obtained by applying the adopted research method on the data through the adopted method of analyses: The results showed that the no sign of a relationship between their dividend payout policy and profitability and so there is no controlling factor effective due to the absence of any relationship. Thus, the hypotheses were rejected.

scholarly journals The relationship between dividend policy and bank growth

2021 ◽  
Vol 16 (4) ◽  
pp. 218-228
Author(s):  
Mohammad Fawzi Shubita
Keyword(s):  
Regression Models ◽  
Random Effect ◽  
Financial Statements ◽  
Earnings Per Share ◽  
Operating Cash Flow ◽  
Accrual Basis ◽  
Retained Earnings ◽  
The Relationship ◽  
Cash Basis ◽  
Random Effect Models

The purpose of this study is to investigate the association between bank growth and the retained earnings amount for Jordanian banks between 2010 and 2020. The method to be used is regression models. Bank growth is measured using the change in total assets; income retention is measured by subtracting dividends from earnings per share and by deducting dividend per share from the operating cash flow on the accrual basis and cash basis. In addition, another specification will be used to the association between the growth of a bank’s total assets and income retention using the percentage change in the growth of a bank’s total assets and income retention on the accrual and cash basis. The findings of pooled OLS regression models and random effect models show that there is no relationship between income retention using the accrual basis and the bank total assets growth (Adj-R2 was –005). There is a significant relationship between income retention using the cash basis and the bank growth in total assets (Adj-R2 was 14%). There is no significant association between change in income retention using the cash basis and the bank growth in total assets, and bank size affects the relationship between income retention and bank growth in total assets. Users of financial statements need to be aware of the association between the several variables used in this study to make sound decisions.

scholarly journals Analysis of The Effect of Macroeconomics On Net Assets Value (NAV) of Sharia Mutual Funds In Indonesia

2020 ◽  
Vol 4 (1) ◽  
pp. 11
Author(s):  
Hilyatun Nafisah ◽  
Supriyono Supriyono
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Stock Prices ◽  
Random Effect ◽  
Asset Value ◽  
Net Asset Value ◽  
Fund Portfolio ◽  
The Relationship

Net Asset Value (NAV) is a measure of investment performance for sharia mutual funds derived from the entire value of the mutual fund portfolio fewer liabilities. This research aims to analyze the effect of the rupiah exchange rate, inflation, Jakarta Islamic Index (JII) and Bank Indonesia Sharia Certificate (SBIS) on Net Asset Value (NAV) of Sharia Mutual Funds. The object in this research consisted of 5 companies registered with the Financial Services Authority (OJK) from 2012-2019. Panel data regression analysis was used to test the hypothesis in this study. A random effect is used to determine the differences in the effect. The result of this study concluded that rupiah exchange rate, inflation and JII and SBIS effect on NAV of sharia mutual funds simultaneously. Partially, an unstable rupiah exchange rate is considered to have an impact on the company's production factors and affect the validity of the stock price; This causes investments no longer be attractive to investors, thereby reducing the value of investments that have an impact on the declining mutual fund NAV. Inflation decreases the real income of people with fixed income will also reduce the value of wealth in the form of money so that people will prefer to invest their money in the form of real assets that will result in reduced investment in the financial and capital markets and lower the NAV value of Islamic Mutual Funds. JII describes the performance of stocks which are one of the portfolios of sharia mutual funds. If the JII index value rises, then the increase in the portfolio of sharia mutual funds that share type will also rise which will have an impact on the increase in the nett asset value of sharia mutual funds. SBIS does not affect the Sharia Mutual Funds NAV. The relationship between SBIS and the Sharia Mutual Fund NAV as well as the relationship between interest rates and stock prices is negative or in the opposite direction. If interest rates rise at an adequate level, investors will try to move their investments from stocks to deposits.

Capital Structure and Earnings per Share: An Empirical Analysis of Indian Corporate Sector

2015 ◽  
Vol 5 (3) ◽  
Author(s):  
Harvinder Singh Mand ◽  
Manjit Singh
Keyword(s):  
Capital Structure ◽  
Empirical Analysis ◽  
Corporate Sector ◽  
Independent Variables ◽  
Earnings Per Share ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Impact ◽  
The Relationship ◽  
The Empirical Analysis

This paper intends to measure the impact of capital structure on EPS (earnings per share) in Indian corporate sector. Fifteen control variables along with capital structure have been selected to know their impact on EPS. Panel data regression has been applied to establish the relationship among dependent and independent variables. It is found from the empirical analysis that the relation of capital structure with EPS has been statistically insignificant in Indian corporate sector among all specific industries except telecommunication industry. The results are consistent with Modigliani-Miller approach.

Correlation between Methylenetetrahydrofolate Reductase Polymorphisms and Hepatocellular Carcinoma: A Meta-Analysis

2019 ◽  
Vol 74 (3) ◽  
pp. 251-256 ◽  
Author(s):  
Hailong Su ◽  
Guo Zhang
Keyword(s):  
Hepatocellular Carcinoma ◽  
Gene Polymorphisms ◽  
Methylenetetrahydrofolate Reductase ◽  
Meta Analysis ◽  
Random Effect ◽  
Recessive Model ◽  
Mthfr Gene ◽  
Systematic Research ◽  
The Relationship ◽  
Random Effect Models

Background: The correlation between methylenetetrahydrofolate reductase (MTHFR) gene polymorphisms and hepatocellular carcinoma (HCC) remains controversial. Objectives: We performed this study to better assess the relationship between MTHFR gene polymorphisms and the likelihood of HCC. Methods: A systematic research of PubMed, Medline, and Embase was performed to retrieve relevant articles. ORs and 95% CIs were calculated. Results: A total of 15 studies with 8,378 participants were analyzed. In overall analyses, a significant association with the likelihood of HCC was detected for the rs1801131 polymorphism with fixed-effect models (FEMs) in recessive comparison (p = 0.002, OR 0.62, 95% CI 0.43–0.82). However, no positive results were detected for the rs1801133 polymorphism in any comparison. Further subgroup analyses revealed that the rs1801131 polymorphism was significantly associated with the likelihood of HCC in Asians with both FEMs (recessive model: p < 0.0001, OR 0.42, 95% CI 0.29–0.62; allele model: p = 0.004, OR 1.20, 95% CI 1.06–1.35) and random-effect models (recessive model: p = 0.002, OR 0.47, 95% CI 0.29–0.75). Nevertheless, we failed to detect any significant correlation between the rs1801133 polymorphism and HCC. Conclusions: Our findings indicated that the rs1801131 polymorphism may serve as a genetic biomarker of HCC in Asians.

Sign in / Sign up

Export Citation Format

Share Document