scholarly journals Determinants of Dividend Policy in Sri Lanka: The Panel Data Analysis

2021 ◽  
Vol 16 (2) ◽  
pp. 289-313
Author(s):  
Lingesiya Kengatharan ◽  
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Firm Size ◽  
Dividend Policy ◽  
Panel Data Analysis ◽  
Fixed Effect Model ◽  
Shareholder Wealth ◽  
Fixed Effect ◽  
Sales Growth ◽  
Effect Model

The study aimed to emphasize the determinants of dividend policy in Sri Lankan firms. This study was conducted with 80 non - financial companies which were listed on Colombo Stock Exchange (CSE). The empirical research was focused on panel data analysis, and data was collected from annual reports for a five year period from 2013 to 2017. This study explored selected factors that influence dividend policy, including sales growth, leverage, firm size, profitability, EPS, liquidity, and risk. The panel data analysis employed pooled OLS, fixed - effect, and random - effect models. Based on the analysis, the fixed - effect model was thought to be the best fit for studying the factors that affect dividend policy. According to the outcome of fixed-effect model, among the seven input variables considered in this study, profitability, EPS, and risk were negatively linked to dividend policy. However, no significant relationship was found between dividend policy and sales growth, leverage, firm size, or liquidity. The findings contribute to the understanding that three parameters namely: profitability, EPS, and risk have been recognized as factors affecting dividend payouts in CSE’s listed companies. Hence, policymakers will be able to concentrate on the factors that influence shareholder wealth maximization. Keywords: profitability, EPS, risk, dividend payout

scholarly journals PENGARUH PROFITABILITAS TERHADAP KEBIJAKAN DIVIDEN DENGAN ANALISA DATA PANEL PADA MULTI-BISNIS DI BURSA EFEK INDONESIA PERIODE 2007-2017

2020 ◽  
Vol 8 (1) ◽  
pp. 15-27
Author(s):  
Jan Horas Veryady Purba
Keyword(s):  
Panel Data ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Random Effect Model ◽  
Fixed Effect Model ◽  
Fixed Effect ◽  
Dividend Payout ◽  
Effect Model

The issue of dividends is very important to show the prospects for the company's growth in the future, and also important in the company's capital structure. Dividend policy can be influenced by profitability and other variables. In this study, profitability is chosen due to its role as main indicator that shows the company's capacity to pay dividends.  This study aims to analyze the effect of profitability on dividend policy. The study population is a company listed on the Indonesia Stock Exchange. Purposively selected eight companies that have a good liquidity category. Data for each company is taken from 2007 to 2017. With this data structure, the analysis used is panel data regression analysis. Panel data analysis models include the Common Effect Model (CEM) Fixed Effect Model (FEM) and Random Effect Model (REM). The best model was tested with the Chow test and Hausman Test and obtained The Fixed Effect Model. Dividend policy is measured by the variable dividend payout ratio. The findings in this study conclude that the dividend policy (Dividend Payout Ratio) is influenced by ROE, EPS and NPM, where these independent variables have a positive and significant influence on DPR.

scholarly journals ANALISIS PENGARUH UPAH MINIMUM TERHADAP KESEMPATAN KERJA SEKTOR INDUSTRI DENGAN PANEL DATA ANALYSIS

IQTISHODUNA ◽  
2011 ◽  
Author(s):  
Luthfiya Fathi Pusposari
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Random Effect Model ◽  
Control Variable ◽  
Industrial Sector ◽  
Fixed Effect ◽  
Minimum Wages ◽  
Effect Model

This study aims to determine the effect of minimum wages and employment of industrial sector in East Java. Researchers include two control variables are GDP as control variable of demand labor and work force as control variable of supply labor by using panel data from all districts and cities in East Java (29 districts and nine cities). Analysis of this study used panel data analysis which consisting of the Common Effect model, Fixed Effect model and Random Effect model, then chosed the most appropriate model. The result of this study show after testing the models, the appropriate model is fixed effect where minimum wages have negative effect of employment in industrial sector in east java.

Female Director and Agency Cost: Does board gender diversity at Indian corporate board reduce agency conflict?

2021 ◽  
Vol 9 (3) ◽  
Author(s):  
Shubhanker Yadav ◽  
Miklesh Prasad Yadav
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Agency Cost ◽  
Fixed Effect ◽  
Principal Agent ◽  
Women Directors ◽  
Effect Model ◽  
Female Director

We examined the presence of women directors in top-level management and their effect on principal-principal conflict (PP) and principal-agent conflict (PA) on the firms listed on Indian stock exchange using a panel model approach. For analysis purpose, this study covers the sample of 75 companies belonging to various industries and listed in Bombay Stock Exchange Index, has been studied over thirteen financial years, i.e. from year 2006 to year 2019. This study uses panel data analysis, i.e. fixed effect model and random effect model. The proportion and presence (dichotomous) of women directors on top level management board is taken as the independent variable. Principal-principal conflict measured by assets utilization ratio (AUR), and principal-agent conflict is been measured by dividend payout ratio (DPR), are taken as dependent variable in this study. The prime results of this study using panel data analysis, i.e. fixed effect (FE) and random effects (RE) estimation models point towards no significant impact of the female director (proportion and presence) on the firm’s agency cost (PP and PA). 

scholarly journals ANALISIS PENGARUH UPAH MINIMUM, INVESTASI DAN PENGELUARAN PEMERINTAH TERHADAP PENYERAPAN TENAGA KERJA BERDASARKAN PENDIDIKAN

El Dinar ◽  
2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Retno Wilis
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Minimum Wage ◽  
Foreign Investment ◽  
Government Spending ◽  
Panel Data Analysis ◽  
Fixed Effect Model ◽  
Quantitative Approach ◽  
Fem Method ◽  
Effect Model

This study analyzes the influence of the minimum wage, investment and gov-ernment spending on educated employment, trained employment and unedu-cated and untrained employment in 38 Regencies/Cities of East Java Province<br />in 2008–2013. The research is using quantitative approach, panel data analysis<br />and Fixed Effect Model (FEM) method. The results show that the minimum<br />wage variable has negative significant effect on the educated employment,<br />trained employment and uneducated and untrained employment. Regional<br />investment variable does not significantly affect to the educated employment,<br />trained employment and uneducated and untrained employment. Domestic<br />investment variable has positive significant effect on the trained employment,<br />but does not significantly affect to the educated employment and uneducated<br />and untrained employment. Foreign investment variable does not significantly<br />affect to the educated employment, trained employment and uneducated and<br />untrained employment. And government spending variable has positive sig-nificant effect on the educated employment and uneducated and untrained<br />employment, but does not significantly affect to the trained employment

Capital Structure of Shariah-Compliant Companies in Malaysia

2015 ◽  
Vol 21 (4) ◽  
pp. 937-941
Author(s):  
Haslindar Ibrahim ◽  
Abdul Hadi Zulkafli ◽  
Teng Hui Ying
Keyword(s):  
Data Analysis ◽  
Capital Structure ◽  
Firm Size ◽  
Panel Data Analysis ◽  
Listed Companies ◽  
Fixed Effect Model ◽  
Debt Ratio ◽  
Growth Opportunities ◽  
Independent Variables ◽  
Effect Model

The study looks at the determinants of capital structure of listed Shariah-compliant companies in Malaysia. It presents a study of the companies included in the Top 100 publicly listed companies in the Main Board of the Bursa Malaysia over the period of 2009 to 2011. The study applies 4 independent variables which are asset tangibility (TANG), growth opportunities (GROWTH), profitability (PROF) and firm size (SIZE while the dependent variable is debt ratio (DR). Panel data analysis on fixed effect model is used in this study. The findings of the study reveal that the debt ratio of Shariah-compliant firms is proved to be significant with growth opportunities and firm size but insignificant with asset tangibility and profitability. This has suggested that the factors are inconsistent for Shariah and non-Shariah compliant companies in determining the capital structure of public listed companies in Malaysia.

scholarly journals Government Expenditure and Human Development in Indonesia

2020 ◽  
Vol 2 (2) ◽  
Author(s):  
Johan Beni Maharda ◽  
Bunga Zharfa Aulia
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Human Development ◽  
Human Development Index ◽  
Panel Data Analysis ◽  
Government Expenditure ◽  
Fixed Effect Model ◽  
Effect Model ◽  
Per Capita

This study aims to estimate the association between government expenditure and human development index (HDI) in Indonesia. Due to inequal HDI attainment, this study focuses on 12 provinces which categorized as provinces with low level of HDI in Indonesia. This study employs fixed effect model (FEM) panel data analysis on provincial level datasets from 2010 to 2018. This study found that the increase of government expenditure on education significantly increases HDI, while government expenditure on health has no significant association with HDI. Major finding of the study highlights the role of gross regional domestic product (GRDP) per capita in increasing HDI on 12 provinces in Indonesia. Keywords: Government expenditure on education, government expenditure on health, HDI, FEM.

E-government as an anti-corruption tool: panel data analysis across countries

2019 ◽  
Vol 86 (4) ◽  
pp. 691-707 ◽  
Author(s):  
Chul Hyun Park ◽  
Koomin Kim
Keyword(s):  
Data Analysis ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Open Data ◽  
Fixed Effect Model ◽  
Open Government ◽  
Legal Systems ◽  
Discussion Forums ◽  
Online Discussion Forums ◽  
Effect Model

Over the past two decades, many governments around the world have adopted e-government as an anti-corruption tool. However, there is a lack of empirical evidence on the impacts of e-government on corruption. Thus, this article aims to empirically examine whether e-government reduces corruption across countries. For this purpose, longitudinal data from 2003 to 2016 were collected from 214 countries and then panel data analysis based on a fixed-effect model was conducted. Analysis results reveal that e-government as a whole significantly reduces corruption, while the effects of open government as one type of e-government are unclear. However, the rule of law moderates the relationship between open government and corruption. That is, in countries with more effective legal systems, open government is more likely to reduce corruption than in countries with less effective legal systems. Points for practitioners E-government as a whole can effectively reduce corruption. Open government, such as open data portals and online discussion forums, does not have a direct impact on the reduction of corruption. Open government can have a conditional impact on corruption, relying on the effectiveness of legal systems.

Analysis of Board Size and Firm Performance: Evidence from NSE Companies Using Panel Data Approach

2016 ◽  
Vol 9 (2) ◽  
pp. 148-172 ◽  
Author(s):  
Anjala Kalsie ◽  
Shikha Mittal Shrivastav
Keyword(s):  
Firm Performance ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Random Effect ◽  
Random Effect Model ◽  
Fixed Effect Model ◽  
Least Square ◽  
Empirical Literature ◽  
Board Size ◽  
Effect Model

This article seeks to examine the relationship between the board size and firm performance. Existing literature on board size is based on different theories of corporate governance. While agency theory and resource dependency theory suggest that the board size positively affects performance, stewardship theory favours smaller board size and argues that larger board size negatively impacts the firm performance. The present article adds to the empirical literature by employing panel data analysis of 145 non-financial companies listed in the NSE CNX 200 Index of India corresponding to 16 industries. The study is carried out for a period of five years from 2008 to 2012. The firm performance has been measured using Tobin’s Q and the market-to-book value ratio (MBVR) as market-based measures and return on assets (ROA) and return on capital employed (ROCE) as accounting-based measures. The fixed effect model, random effect model and feasible generalised least square (FGLS) regression models are applied to achieve the above-mentioned objectives. The results conclude that the board size has a positive and significant impact on the firm performance.

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