13,105 results on '"Dividend"'
Search Results
2. The Impact of Liquidity, Financial Leverage, and Profitability on Dividend
- Author
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Hajee, Ali Abbas Murtadha Abbas Ali, Al-Absy, Mujeeb Saif Mohsen, Kacprzyk, Janusz, Series Editor, and Awwad, Bahaa, editor
- Published
- 2024
- Full Text
- View/download PDF
3. Efficacy of Dividend Announcement on Bluechip Pharma Stocks—An Evidence from the Indian Stock Market
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Madhusudhanan, R., Haribaskar, R., Kacprzyk, Janusz, Series Editor, Hamdan, Allam, editor, and Aldhaen, Esra Saleh, editor
- Published
- 2024
- Full Text
- View/download PDF
4. Firm carbon risk exposure, stock returns, and dividend payment.
- Author
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Boubaker, Sabri, Choudhury, Tonmoy, Hasan, Fakhrul, and Nguyen, Duc Khuong
- Subjects
- *
RATE of return on stocks , *FINANCIAL market reaction , *RISK exposure , *DIVIDENDS , *INVESTORS , *CARBON taxes ,DIVIDEND policy - Abstract
In this paper, we study whether a firm's carbon risk exposure plays a role in the relationship between dividend announcements and stock returns. Our results show that when investors hold disproportionately high carbon emitters with associated increased carbon risk, a positive relationship exists between a firm's carbon emissions and the association between the stock returns and dividend payment. If investors hold disproportionately high carbon emitters with the associated increased carbon risk stocks, the stock market reacts less positively (more negatively) to dividend increase (decrease) announcements. At the same time, if firms under-price their carbon risk, the stock market reacts less positively (more negatively) to dividend increase (decrease) announcements. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
5. Integrating agency and resource dependency theories: the moderating effect of board size on the relationship between dividends and firm value in Malaysia.
- Author
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Bakri, Mohd Ashari, Ayub, Nurjeehan, and Gazali, Haneffa Muchlis
- Subjects
ENTERPRISE value ,DIVIDENDS ,INVESTORS ,LAGRANGE multiplier ,AGENCY theory ,PANEL analysis - Abstract
Purpose: This paper aims to examine the moderating effects of board size on the relationship between dividends and firm value in Malaysian settings. The theoretical foundations of this research were the integration between agency and resources dependency theories. Design/methodology/approach: Panel data are extracted from DataStream and the annual report for the period of 2012 to 2021, and pooled OLS, random effects, and fixed effects analyses were employed to examine the relationship. Breusch–Pagan Lagrange multiplier (LM) test and the Hausman test used to determine the most appropriate between these three analyses (OLS, random effects, and fixed effects). The results are valid even after calculating the robust standard error to mitigate the potential heteroskedasticity and serial correlation. Findings: The empirical results show that board size positively moderates the relationship between dividends and firm value in all the models tested. The results indicate that a larger board of size can minimize the agency problem (agency theory) because a larger board size can more effectively monitor and control management's opportunistic behavior due to more set of skilled and talented individuals included in the boardroom (resources dependency theory). Additionally, effective monitoring can also lead to the increase in dividend payout to maintain a good reputation among investors and simultaneously increase firm value. Practical implication: This study contributes to helping the regulators and industry players in Malaysia to improve existing guidelines for determining dividend and board size to increase firm value. The findings may also provide inputs to the policymakers in recommending the optimum dividend and board size that resulting an increase in valuation. Originality/value: By incorporating agency and resources dependency theory, authors investigate the moderating effect of board size on dividend and firm value relationships in Malaysian markets. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
6. DECYZJE W ZAKRESIE DYWIDENDY A DŁUGOTERMINOWE STOPY ZWROTU. PRZYPADEK POLSKIEGO RYNKU AKCJI.
- Author
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Konieczka, Przemysław
- Abstract
Copyright of Journal of Finance & Financial Law / Finanse i Prawo Finansowe is the property of Wydawnictwo Uniwersytetu Lodzkiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
7. Currency flotation and dividend policies: Evidence from China's central parity reform.
- Author
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Luo, Yilin, Ni, Chenkai, and Thewissen, James
- Subjects
DIVIDENDS ,FLOTATION ,NATIONAL currencies ,HARD currencies ,U.S. dollar ,DIVIDEND policy - Abstract
Exploiting the 2015 central parity reform in China, we examine whether and how currency flotation affects corporate payout policies. The reform shifted China's currency regime from a crawling peg to the US dollar to partial flotation, significantly increasing its currency risk. We find that firms with high foreign currency exposures reduced their cash dividends postreform relative to firms with low foreign currency exposures. The dividend reduction is more pronounced for firms with less financial hedging or less financial flexibility before the reform. Firms display asymmetrical responses to foreign exchange gains versus losses. Specifically, while firms cut cash dividends when experiencing foreign exchange losses, they do not increase cash dividends when obtaining foreign exchange gains. A falsification test shows no changes in firms' stock dividends that do not involve cash flows. Overall, our study shows that currency flotation, through increasing currency risks, dampens firms' cash dividends. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
8. The audit committee and dividend policy: an empirical study of the post-SOX era.
- Author
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Buertey, Samuel, Nguyen, Ha Thanh, and Thompson, Ephraim Kwashie
- Subjects
AUDIT committees ,DIVIDEND policy ,AUDITORS ,GENDER nonconformity ,DIVIDENDS ,EMPIRICAL research - Abstract
Purpose: Post-Sarbanes Oxley Act (SOX), the audit committee has been empowered greatly to play a central role in the corporate governance of firms. Embedded in agency theory, this study aims to examine the effect of the audit committee on the likelihood by firms to pay dividends. Design/methodology/approach: The study population is US firms in the Institutional Shareholder Services (ISS) database from 2007 to 2018. The authors apply the multivariate logit fixed-effect regression for the analyses after conducting the appropriate statistical tests. Findings: From the results of the research model, the authors find that there is a positive relationship between the size and gender diversity of the audit committee and the propensity to pay dividends suggesting that a larger audit committee with substantial women representation improve the information environment in firms leading to higher dividend distribution. The extent of busyness of the audit committee impacts negatively on the propensity to pay dividends. The results are driven by high-performing firms and not driven by specific levels of firm size. Research limitations/implications: The findings of the study give impetus to the audit committee as an important component of the corporate governance mechanism that advances the interest of stakeholders. Thus, efforts that seeks to promote the audit committee's resourcefulness must be embraced by all stakeholders. Originality/value: To the best of the authors' knowledge, this study is the first to focus on audit committee and dividend payout policy of US firms post-SOX. The study demonstrates how the audit committee characteristics including its size, gender diversity and busyness affect dividend policy by mitigating information asymmetry problems. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
9. Integrating agency and resource dependency theories: the moderating effect of board size on the relationship between dividends and firm value in Malaysia
- Author
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Mohd Ashari Bakri, Nurjeehan Ayub, and Haneffa Muchlis Gazali
- Subjects
Dividend ,Firm value ,Board size ,Agency theory ,Resources dependency ,Business ,HF5001-6182 ,Finance ,HG1-9999 - Abstract
Abstract Purpose This paper aims to examine the moderating effects of board size on the relationship between dividends and firm value in Malaysian settings. The theoretical foundations of this research were the integration between agency and resources dependency theories. Design/methodology/approach Panel data are extracted from DataStream and the annual report for the period of 2012 to 2021, and pooled OLS, random effects, and fixed effects analyses were employed to examine the relationship. Breusch–Pagan Lagrange multiplier (LM) test and the Hausman test used to determine the most appropriate between these three analyses (OLS, random effects, and fixed effects). The results are valid even after calculating the robust standard error to mitigate the potential heteroskedasticity and serial correlation. Findings The empirical results show that board size positively moderates the relationship between dividends and firm value in all the models tested. The results indicate that a larger board of size can minimize the agency problem (agency theory) because a larger board size can more effectively monitor and control management's opportunistic behavior due to more set of skilled and talented individuals included in the boardroom (resources dependency theory). Additionally, effective monitoring can also lead to the increase in dividend payout to maintain a good reputation among investors and simultaneously increase firm value. Practical implication This study contributes to helping the regulators and industry players in Malaysia to improve existing guidelines for determining dividend and board size to increase firm value. The findings may also provide inputs to the policymakers in recommending the optimum dividend and board size that resulting an increase in valuation. Originality/value By incorporating agency and resources dependency theory, authors investigate the moderating effect of board size on dividend and firm value relationships in Malaysian markets.
- Published
- 2024
- Full Text
- View/download PDF
10. Determinants of UK companies’ dividend policy
- Author
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Munther Momany, Khaled Bataineh, and Omar Al-Bataineh
- Subjects
2SLS ,catering ,dividend ,endogeneity ,FTSE ,GMM ,Finance ,HG1-9999 - Abstract
This study examines the major factors influencing UK companies listed on the Financial Times Stock Exchange (FTSE) 100 stock market's dividend policy (as determined by the dividend payout ratio) over 32 years, from 1990 to 2022. The dividend premium and free cash flow components make up the catering dividend. The outcomes of a wide range of panel data analysis regressions, such as Generalized Method of Moments (GMM) and Two-Stage Least Squares (2SLS) regressions, clearly show that the catering dividend significantly impacts UK firms' dividend policy. On the other hand, the dividend policy benefits from the dividend premium, which increases it by 12% to 17% on average. Free cash flow, on the other hand, has a negligible negative impact on the dividend policy by just 5%. It is crucial to mention that this outcome varies depending on the models and regression techniques used. Furthermore, this study emphasizes how important it is for a firm's size and profitability to play a key role in determining how it will implement its dividend policy. Financial leverage also becomes important since a company's dividend payment ratio decreases when it relies more heavily on debt in its capital structure. By using GMM and 2SLS regressions, this study carefully tackles the endogeneity issue, and the results hold up even when the endogeneity effect is reduced. Ultimately, this study emphasizes how important dividend catering components are in guiding UK companies' dividend policies, arguing that CEOs and legislators should pay more attention to this.
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- 2024
- Full Text
- View/download PDF
11. Predictive view of the value relevance of earnings in India
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Bashir, Hajam Abid, Bansal, Manish, and Kumar, Dilip
- Published
- 2023
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12. What do dividend changes reveal? Theory and evidence from a unique environment.
- Author
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AlGhazali, Abdullah, Al-Yahyaee, Khamis Hamed, Fairchild, Richard, and Guney, Yilmaz
- Subjects
DIVIDENDS ,DIVIDEND policy ,STOCK prices ,LIFE cycle costing - Abstract
We explore the reasons behind corporate dividend changes and factors driving those changes during 2001–2021 in Oman, as a unique environment. The implications of our paper contrast with the relevant existing literature which demonstrates a positive correlation between dividends and stock prices in Oman, in support of the signaling theory. Employing multiple methods and after controlling for the nonlinearity in the profitability process, we find virtually no evidence for the signaling theory of dividends for dividend reductions, in terms of future earnings. Furthermore, our analysis affirms the importance of current profitability in influencing the magnitude of and the propensity to change (increase or decrease) dividends in listed Omani firms. We also find that the catering theory of dividends does not have any explanatory power on dividend changes. Further, firms' life-cycle status and real investments have been found to significantly affect the decision to change dividends. Our results, which depart from the findings in the conventional literature, can be attributed to the distinct institutional features in Oman. Our game-theoretic model of dividend signaling/dividend catering provides some explanations. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
13. ENFLASYONUN KÂR PAYI ÖDEMELERİNE ETKİSİ: BİST ÜZERİNE BİR UYGULAMA.
- Author
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BOZTOSUN, Derviş and YILDIRIM, Ali
- Subjects
- *
PANEL analysis , *DIVIDENDS , *PROFITABILITY , *PRICE inflation - Abstract
The study aims to investigate the effect of inflation on dividend payments by considering company-specific factors. For this purpose, 38 companies traded on Borsa Istanbul (BIST) and regularly distributing dividends every year between 2013 and 2022 are included in the study. The study examines the effects of inflation, leverage ratio, liquidity ratio, return on assets, return on equity, growth in sales, growth in assets and company age on the dividend payout variable. Panel data analysis, which is an econometric method, was used to analyze these variables. Within the scope of the findings of the study, it is determined that the effect of inflation, which is the focus of the study, on dividend payments is statistically significant and positive. In addition, leverage ratio, liquidity ratio, return on equity, growth in assets and company age are also found to have a statistically significant effect on the dividend payments variable. The results of this study on companies with dividend payment habits in all sectors are expected to guide investor preferences and managerial decisions in inflationary periods. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
14. Corporate social responsibility and dividend payout policy in extraordinary time: Empirical study of South Africa.
- Author
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Buertey, Samuel, Ramsawak, Richard, Dziwornu, Raymond K., and Lee, Yong‐Seok
- Subjects
SOCIAL responsibility of business ,DIVIDEND policy ,EMPIRICAL research ,COVID-19 pandemic - Abstract
Corporate social responsibility (CSR) is a strategic tool that firms use to gain competitive advantage and enhance profitability in the long run, yet its effect on dividend payout in extraordinary times is limited. Grounded in stakeholder and dual responsibility theories, this study examines the effect of CSR on the relationship between COVID‐19 and dividend payout. Data from the period 2015–2021 were obtained from 114 non‐financial listed firms on the Johannesburg Stock Exchange, South Africa, and analyzed by multivariate and logit regression techniques. COVID‐19 has a negative effect on the amount and likelihood of dividend payment, while CSR performance has a positive effect on the likelihood and amount of dividend payment. However, the result of the negative effect of COVID‐19 on dividend payment does not differ between high and low CSR performing firms. Conversely, the impact of COVID‐19 and CSR on dividend payment differ between high and low financial constraint firms. Shareholders should learn to manage their expectations of dividends payment during times of crisis like COVID‐19, as firms tend to focus more on addressing the needs of stakeholders through CSR initiatives, which will enhance profit in the long term, rather than paying out dividend to shareholders. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
15. Dividendo entre reputación y persistencia de ganancias.
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Garrido Navia, Juan Fernando and Gómez, Jesús-Ancizar
- Subjects
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REPUTATION , *DIVIDENDS - Abstract
Do the persistence-predictability of earnings and reputation, affects dividend policy? This study provides new elements to enrich the debate around the question. To this end, a data panel of companies listed in Latin America is structured with financial information obtained in the Datastream database and a corporate reputation ranking known as MERCO during the period between 2008 and 2016. Subsequently, the hypotheses are tested with an econometric study. Our econometric study is based on the model which Lipe (1990) estimates the return of a stock through the properties of the time series of profits, the interest rate used to discount expected future earnings, and the relative ability of earnings compared to alternative information to predict future earnings. Among the main findings we find that the measure of persistence increases the ratio of dividends on assets, but when you are in MERCO the result is negative. It is as if companies take advantage of appearing in the ranking to pay less dividends. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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16. A bibliometric analysis of governance mechanisms in dividend decisions: an overview and emerging trends.
- Author
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Narang, Naina, Gupta, Seema, and Tripathy, Naliniprava
- Subjects
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BIBLIOMETRICS , *GENDER nonconformity , *DIVIDENDS , *CORPORATE governance , *PRODUCTION planning ,DIVIDEND policy - Abstract
The paper reviews the fundamental indicators to provide a scientific production analysis of dividend decisions, focusing on corporate governance. The study is divided into three steps to conduct a structured review and a bibliometric analysis. First, the study employs the preferred reporting items for systematic reviews and meta-analyses flow methodology and search strategy in the initial stage. Secondly, it uses the Scopus database search results to include the articles written in the English language only. Finally, the study includes performance analysis and employs VOSviewer software for science mapping. The findings indicate that themes addressed in prior research are the theories of dividend, corporate governance and dividend alliance, and the relationship between agency costs and dividend decisions. The findings further reveal that the articles on the relationship between internal corporate governance and dividend policy dominate the literature. In addition, the review shows that most studies examined the alliance of dividend policy with board size, board independence, and board gender diversity. The results give academicians and researchers insight into developing future research agendas. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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17. THE INFLUENCE OF GROWTH POTENTIAL, CAPITAL STRUCTURE AND PROFITABILITY ON DIVIDEND POLICY AND FIRM VALUE IN MANUFACTURING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE.
- Author
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Liong, Harlina, Mahfudnurnajamuddin, Su'un, Muhammad, and Mapparenta
- Subjects
STRUCTURAL equation modeling ,STOCK exchanges ,PROFITABILITY ,CAPITAL structure ,ENTERPRISE value - Abstract
Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2023
- Full Text
- View/download PDF
18. The Impact of Capital Structure, Profitability, and Dividend Payment on Firm Value: Evidence from Indonesian Banking.
- Author
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Nurhayati, Imas and Kristanti, Farida Titik
- Subjects
CAPITAL structure ,BANKING industry ,PROFITABILITY ,PAYMENT systems ,DATA analysis - Abstract
This study examines the influence of capital structure, profitability, and dividend payout on the firm value of banking subsector firms. The focus of this study is the bank subsector companies listed on the Indonesia Stock Exchange between 2013 and 2021. The sample for this study consists of banks listed on the Indonesian Stock Exchange (IDX) between 2013 and 2021. Purposive sampling was used to select these institutions for sampling based on their compliance with the research requirements. The population as a whole consists of 34 businesses, while the subset of enterprises meeting the specified criteria consists of 8 samples with a research duration of 9 years, yielding a total of 72 data observations. The panel regression technique reveals that the capital structure has no statistically significant effect on the value of a company. Nevertheless, return on assets has a strong positive correlation with firm value. In contrast, earnings per share have a negative relationship with firm value. Furthermore, dividend payments have no statistically significant effect on the value of a company. This paper provides new empirical evidence regarding the influence of capital structure, profitability, and dividend distribution on the Indonesian banking sector. [ABSTRACT FROM AUTHOR]
- Published
- 2023
19. Does Promoter Ownership Affect Dividend Policy? An Agency Problem Perspective
- Author
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Geeta Singh, Satish Kumar, Rajesh Pathak, and Kaushik Bhattacharjee
- Subjects
promoter ownership ,dividend ,agency problem ,information asymmetry ,india ,Business ,HF5001-6182 - Abstract
In this paper, we show a nonlinear relation between promoter ownership and dividends in the Indian context, that is, promoters pay more dividends at lower level of their ownership while they pay lesser dividends when their ownership increases beyond a threshold. In particular, we find that the adverse impact of promoter ownership on dividends is greater only at higher level of ownership, where promoters become entrenched with their effective control, and outsiders face the greatest risk of expropriation. We contend that agency and information asymmetry problems are the factors driving our results. We establish this by showing that the nonlinear relation between promoter ownership and dividend payment is more pronounced for standalone firms than group affiliated firms, for firms with more free cash flows and for firms with smaller board and less number of independent directors in the board. Our results are robust to endogeneity concerns and testing the dividend payment decision (to pay or not to pay) using the binary choice logit model.
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- 2023
- Full Text
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20. Kurumsal Yönetim ve Kâr Payı Dağıtım Politikası: Borsa İstanbul’da Bir Uygulama
- Author
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İlhan Çam, Gökhan Özer, and Sedat Çerez
- Subjects
corporate governance ,dividend ,dividend policy ,dividend payout ratio ,borsa i̇stanbul ,kurumsal yönetim ,kâr payı ,temettü politikası ,kâr payı ödeme oranı ,Finance ,HG1-9999 - Abstract
Kurumsal yönetim kalitesi, ticari faaliyetlerin etkinliğini ve üretkenliğini, raporlamanın güvenilirliğini ve menfaat sahiplerinin hak ve menfaatlerinin korunmasını amaçlamaktadır. Bu çalışmada kurumsal yönetim kalitesinin işletmelerin temettü politikaları üzerinde herhangi bir etkisi olup olmadığı araştırılmaktadır. Bu amaçla, Borsa İstanbul’da faaliyet gösteren ve kurumsal yönetim derecelendirme notuna ulaşılan 70 işletme örneklem olarak seçilmiştir. İşletmelerin kurumsal yönetim derecelendirme notu ile temettü politikaları arasındaki ilişkiyi tespit etmek için panel veri analiz yöntemi uygulanmıştır. Ampirik sonuçlarda, kurumsal yönetim derecelendirme notunun işletmelerin temettü politikaları üzerinde istatistiksel açıdan anlamlı ve pozitif bir etkiye sahip olduğu sonucuna ulaşılmıştır. Buna göre daha iyi yönetim kalitesine sahip işletmelerin daha güçlü bir temettü ödeme eğiliminde olduğu anlaşılmaktadır. Kurumsal yönetimin alt bileşenleri üzerinden yapılan analiz sonucunda sadece yönetim kurulu skorunun temettü politikası üzerinde pozitif bir etkiye neden olduğu tespit edilmiştir. Elde edilen diğer ampirik bulgulara göre, büyüklük ve kârlılık değişkenlerinin işletmelerin temettü politikası üzerinde istatistiksel açıdan anlamlı ve pozitif bir etkiye sahip oldukları gözlemlenirken, varlık büyümesi ve kaldıraç değişkenlerinin işletmelerin temettü politikası üzerinde istatistiksel açıdan anlamlı ve negatif bir etkiye neden olduğu tespit edilmiştir. Aynı zamanda COVID-19 döneminde işletmelerin temettü dağıtımlarını azaltma eğiliminde olduğu elde edilen diğer ampirik bulgular arasındadır.
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- 2023
- Full Text
- View/download PDF
21. СЧЕТОВОДНИ, ДАНЪЧНИ И ПРАВНИ АСПЕКТИ НА ДИВИДЕНТИТЕ В АКЦИОНЕРНИТЕ ДРУЖЕСТВА.
- Author
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Лучков, Кирил
- Abstract
This article focuses on the advance distribution of the current profit in favor of the shareholders. The requirements and conditions for paying dividends in cash are analyzed. Special attention is paid to the possibility of set-off a loan receivable with an obligation to pay a dividend. [ABSTRACT FROM AUTHOR]
- Published
- 2023
22. تأثیر قدرت مدیرعامل بر احتمال پرداخت سود سهام: نقش سودآوری و نوسان جریان وجه نقد.
- Author
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شکراله خواجوی and ثریا ویسی حصار
- Abstract
Dividend policy is one of the most important topics in financial literature. CEOs with a high level of authority are motivated to use dividends payout as a strategy to build a reputation in capital markets, aiming to obtain external financing on favorable terms. However, the expected net value of such a reputation depends on the likelihood of external financing, which is associated with low profitability and high volatility of cash flows. Therefore, this study aims to investigate the effect of CEO authority on the dividends payout probability in the conditions of low profitability and high volatility of cash flow. In doing so, 128 companies listed on the Tehran Stock Exchange were examined from 2014 to 2021. The results show that the CEO authority has a negative and significant effect on the payment and increase of dividends. Furthermore, low profitability and high volatility of cash flow increase the negative effect of the CEO's authority on the increase of dividends. However, this factor does not have a significant moderating effect on the relationship between CEO authority and dividends payout. Additionally, financial limitations do not have a significant moderating effect on the relationship between CEO authority and payment and increase of dividends. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
23. EL ANHELADO REEQUILIBRIO EN LA CARGA DE LA PRUEBA DE LA EXISTENCIA DE ABUSO EN EL REPARTO DE DIVIDENDOS.
- Author
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Sevilla Bernabéu, Benjamín
- Abstract
Copyright of Revista Técnica Tributaria is the property of Asociacion Espanola de Asesores Fiscales and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2023
24. KURUMSAL YÖNETİM VE KÂR PAYI DAĞITIM POLİTİKASI: BORSA İSTANBUL'DA BİR UYGULAMA.
- Author
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ÖZER, Gökhan, ÇAM, İlhan, and ÇEREZ, Sedat
- Abstract
Copyright of Journal of Research in Economics, Politics & Finance / Ekonomi, Politika & Finans Arastirmalari Dergisi is the property of Journal of Research in Economics, Politics & Finance and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2023
- Full Text
- View/download PDF
25. The Influence of Managerial Ownership, Institutional Ownership, and Leverage on Dividend Policy (Case Study of Food and Beverage Companies Listed on The IDX for The 2017-2021 Period)
- Author
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Veradela Restu Praduana, Risal Rinofah, and Alfiatul Maulida
- Subjects
Managerial ,Institutional ,Leverage ,Dividend ,Islam ,BP1-253 ,Economics as a science ,HB71-74 - Abstract
This research aims to determine and analyze the influence of managerial ownership, institutional ownership, and leverage variables on dividend policy. The population is food and beverage companies on the Indonesia Stock Exchange for the 2017-2021 period. The sample of this research was determined by sampling method based on the criteria of companies listed on the Indonesia Stock Exchange (IDX) and the publication of complete reports and data including data from variables that have been studied during the 2017-2021 research period. This research uses quantitative data with multiple linear regression techniques. The research sample was determined using a purposive sampling technique and resulted in a sample of 20 companies. Quantitative analysis includes classical assumption tests (normality test, multicollinearity test, heteroscedasticity test, autocorrelation test), multiple linear regression test, model feasibility test via t-test, F test, and coefficient of determination. Based on the research results, show that managerial ownership does not affect dividend policy, institutional ownership has a positive effect on dividend policy, and leverage has a positive effect on dividend policy. Based on the research results that have been explained, it can be concluded that managerial ownership has no effect on dividend policy, and institutional ownership and leverage have a positive effect on the dividend policy of food and beverage companies listed on the IDX for the 2017-2021 period.
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- 2024
- Full Text
- View/download PDF
26. Subjectification in Datafied Societies: Dividualization as a Perspective on Communicative Negotiation Processes in Data-Driven Times
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Hörtnagl, Jakob, Gentzel, Peter, editor, Krotz, Friedrich, editor, Wimmer, Jeffrey, editor, and Winter, Rainer, editor
- Published
- 2023
- Full Text
- View/download PDF
27. Dividend
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Aluchna, Maria, Martín-Cervantes, Pedro Antonio, Section editor, Idowu, Samuel O., editor, Schmidpeter, René, editor, Capaldi, Nicholas, editor, Zu, Liangrong, editor, Del Baldo, Mara, editor, and Abreu, Rute, editor
- Published
- 2023
- Full Text
- View/download PDF
28. Issues and Payouts: Changes in Capital Structure
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Schoenmaker, Dirk, Schramade, Willem, Schoenmaker, Dirk, and Schramade, Willem
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- 2023
- Full Text
- View/download PDF
29. Total Economic Rents in Australia as a Source for Basic Income
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Flomenhoft, Gary, Widerquist, Karl, Series Editor, and Pereira, Richard, editor
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- 2023
- Full Text
- View/download PDF
30. Dividend and Share Price Behaviour: A Panacea for Sustainable Industrialization
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Moseri, N. M., Owualah, S. I., Ogbebor, P. I., Akintoye, I. R., Williams, H. T., Aigbavboa, Clinton, editor, Mojekwu, Joseph N., editor, Thwala, Wellington Didibhuku, editor, Atepor, Lawrence, editor, Adinyira, Emmanuel, editor, Nani, Gabriel, editor, and Bamfo-Agyei, Emmanuel, editor
- Published
- 2023
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31. Market Effect of Dividend Differentiated Tax Reduction Policy
- Author
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Ying, Qianwei, Song, Mingjuan, Dou, Runliang, Editor-in-Chief, Liu, Jing, Editor-in-Chief, Khasawneh, Mohammad T., Editor-in-Chief, Balas, Valentina Emilia, Series Editor, Bhowmik, Debashish, Series Editor, Khan, Khalil, Series Editor, Masehian, Ellips, Series Editor, Mohammadi-Ivatloo, Behnam, Series Editor, Nayyar, Anand, Series Editor, Pamucar, Dragan, Series Editor, Shu, Dewu, Series Editor, Qiu, Daowen, editor, Jiao, Yusheng, editor, and Yeoh, William, editor
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- 2023
- Full Text
- View/download PDF
32. THE INFLUENCE OF INVESTMENT AND FUNDING DECISIONS ON COMPANY VALUE WITH INTERVENING VARIABLES OF DIVIDEND POLICY IN COMPANIES LISTED ON THE JAKARTA ISLAMIC INDEX.
- Author
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Zaki, Putra Farakhan, Widiyanti, Marlina, Thamrin, Kms. M. Husni, Yuliani, and Andriana, Isni
- Subjects
DIVIDEND policy ,INVESTMENT policy - Abstract
The purpose of this study is to analyze and apply the influence of investment decisions and funding decisions on company value in companies listed in the Jakarta Islamic Index and to analyze and apply the influence of investment decisions and funding decisions on company value with intervening variables of dividend decisions in companies listed in the Jakarta Islamic Index. The population in this study is companies listed in the Jakarta Islamic Index (JII) for the 2017-2022 period. Research samples with porpusive sampling method amounted to 7 from 30 companies. The data was analyzed using linear regression with the Eviews application. The results showed that Investment decisions and funding decisions have a positive and significant influence on Dividend Policy, Investment Decisions and Funding decisions have no and insignificant effect on company value, dividend policy Intervening investment decisions and funding decisions on company value in companies listed in JII for the 2017-2022 period. [ABSTRACT FROM AUTHOR]
- Published
- 2023
33. Optimal dividend and risk control strategies for an insurer with two groups of reinsurers.
- Author
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Yao, Dingjun, Xu, Rui, Cheng, Gongpin, and Fan, Kun
- Subjects
- *
BUSINESS insurance , *LOSS control , *DIVIDENDS , *INSURANCE companies , *TRANSACTION costs - Abstract
This paper assumes that an insurer can control the dividend, reinsurance and refinancing strategies dynamically, and needs to bear proportional and fixed transaction costs. Different from previous literature, we assume that the insurer can buy reinsurance from two groups of reinsurers, i.e. the first group consists of m reinsurers and the second group consists of n reinsurers. The two groups of reinsurers have different risk attitudes and use the variance premium principle and the exponential premium principle in pricing, respectively. By using the optimal control methods, we obtain the optimal joint strategies for maximizing the insurance company's value. The results prove that dividends should be paid according to the impulse strategy; refinancing should be considered if and only if the transaction costs are not too high and the surplus is null; the insurer should diversify risks to all reinsurers in the market simultaneously when the surplus is not too large. The proportion of risk ceded to each reinsurer depends on its quoted price. Finally, numerical examples and economic interpretations are provided to make illustrations. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
34. DIVIDEND AND EXCESS RETURN IN CHINA.
- Author
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Jiaqi Da, Md. Nassir, Annuar, Tek Wei Saw, Andrew, Hui Zhang, and Wei Theng Lau
- Subjects
ABNORMAL returns ,CAPITAL assets pricing model ,ARBITRAGE pricing theory ,MARKET sentiment ,INVESTORS ,DIVIDENDS - Abstract
Investors are always chasing excess returns. To examine the three driving factors affecting China A-share excess returns, namely systematic risk, idiosyncratic risk and market sentiment, this study divided A-shares into non-dividend and dividend-paying groups based on the Dividend Paid for Common Shares in the notes of the financial report. In addition, this study used the Capital Asset Pricing model, Single-Index model, Arbitrage Pricing theory and Fama-French three-and five-factor model to analyse the three main driving factors. The Gibbons-Ross-Shanken test was used to test the model validity, and the optimal model for each group was extracted. Our findings show that after analysing the optimal models within each group, it becomes evident that systematic risk indeed exerts an influence on both dividend-paying and non-dividend companies. Nevertheless, when considering four specific systematic risks (inflation, exchange rates, crude oil and interest rates), this study's findings establish that these risks do not significantly impact the stock returns of any company group across all time periods. As for idiosyncratic risks, firm size and book-to-market factors emerge as substantial influencers across all firms. Additionally, market sentiment significantly affects the stock performance of small-sized dividend-paying companies. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
35. Factors that Correlate Between Dividend Signaling and Dividend Acceleration Through Digital Investment Among Online Investors in Iligan City.
- Author
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Aguilar, Jay Cob A., Perion, Jenvy C., Sanchez, Lady Lou A., and Abiol, Michael Jere' D.
- Subjects
- *
DIGITAL technology , *DISTRIBUTORS (Commerce) , *GLOBALIZATION , *PAYMENT , *WAGES - Abstract
Digital investments are becoming mainstream but must be secured to avoid sudden loss. This study measures the correlation between dividend signaling and acceleration through digital assets among online jobbers in Iligan City. It has become a full-fledged investment tool, creating a new, booming market with unknown potential. Thanks to the Internet, many businesses are interconnected worldwide, which sparked the industrial revolution centered on globalization. Several solutions have been developed to provide fast and low-cost payments globally in the Philippines, but third parties manage these payments. Cryptocurrency has drawn the attention of online jobbers during the lockdown, but many people need to learn what they can do for financial services or start investing. This research employed a descriptive correlational research design to describe the profile of respondents in terms of age, gender, salary, Investment capital, and length of the Investment. It was a correlation to determine the relationship between demographic profiles and dividend signaling in dividend acceleration. Only those online Investors who were available and signified their interest in participating in the study were included as the sources of the respondents. The research environment of this study covered online Investors in Iligan City. This study examines how investing in digital Investment has become a full-fledged investment tool, enabling rapid and low-cost payments worldwide. It is recognized in the market for dividend signaling and acceleration, but many people hesitate to start investing. Some of the biggest financial companies still need to build and launch digital investment solutions, creating a new, booming market with unknown potential. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
36. A dual risk model with additive and proportional gains: ruin probability and dividends.
- Author
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Boxma, Onno, Frostig, Esther, and Palmowski, Zbigniew
- Subjects
DIVIDENDS ,POISSON processes ,BROWNIAN motion ,WIENER processes ,PROBABILITY theory ,ADDITIVES - Abstract
We consider a dual risk model with constant expense rate and i.i.d. exponentially distributed gains $C_i$ ( $i=1,2,\dots$) that arrive according to a renewal process with general interarrival times. We add to this classical dual risk model the proportional gain feature; that is, if the surplus process just before the i th arrival is at level u , then for $a>0$ the capital jumps up to the level $(1+a)u+C_i$. The ruin probability and the distribution of the time to ruin are determined. We furthermore identify the value of discounted cumulative dividend payments, for the case of a Poisson arrival process of proportional gains. In the dividend calculations, we also consider a random perturbation of our basic risk process modeled by an independent Brownian motion with drift. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
37. HOW DO TAX AVOIDANCE AND PROFITABILITY INFLUENCE A FIRM'S INTRINSIC VALUE?
- Author
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Luluk Muhimatul Ifada, Nunung Ghoniyah, and Nurcahyono Nurcahyono
- Subjects
intrinsic value ,dividend ,profitability ,tax avoindance ,Commerce ,HF1-6182 ,Accounting. Bookkeeping ,HF5601-5689 - Abstract
Abstrak - Bagaimana Penghindaran Pajak dan Profitabilitas Mempengaruhi Nilai Intrinsik Perusahaan? Tujuan Utama – Penelitian bertujuan menelaah bagaimana penghindaran pajak dan profitabilitas mempengaruhi nilai intrinsik perusahaan. Metode – Penelitian ini menggunakan metode regresi linear berganda. Sampel penelitian ini adalah perusahaan manufaktur selama periode 2016-2020. Temuan Utama – Profitabilitas perusahaan yang menunjukkan peningkatan laba umumnya dipandang prinsipal mampu memperluas ekspansi investasi sehingga meningkatkan nilai instrinsik. Selain itu, dividen bukan menjadi pilihan utama dalam berinvestasi karena investor lebih memilih bertransaksi untuk jangka pendek. Bagi perusahaan yang mengalami masalah, penurunan tarif pajak menjadi lebih penting. Implikasi Teori dan Kebijakan – Penelitian ini menunjukkan relevansi teori agensi dalam penentuan nilai intrinsik perusahaan. Pada aspek praktik, nilai intrinsik perusahaan harus dikelola manajemen karena merupakan faktor yang diperhatikan investor sehingga perusahaan perlu mengelola sumber daya, aset, atau modal yang dimiliki untuk menghasilkan keuntungan. Kebaruan Penelitian - Penelitian ini menambahkan penghindaran pajak untuk mencari penjelasan upaya melakukan perencanaan pajak dan dampaknya. Abstract - How Do Tax Avoidance and Profitability Influence a Firm's Intrinsic Value? Main Purpose – The research examines how tax avoidance and profitability affect the firm's intrinsic value. Method – This study uses multiple linear regression methods. The sample is manufacturing companies during the 2016-2020 period. Main Findings - The profitability of companies that show an increase in profits is generally viewed by principals as being able to expand investment expansion, thereby increasing intrinsic value. In addition, dividends are not the primary choice in investing because investors prefer short-term transactions. For companies experiencing problems, lowering the tax rate is even more critical. Theory and Practical Implications – This research demonstrates the relevance of agency theory in determining a company's intrinsic value. On the practical aspect, the firms' intrinsic value must be managed by management because it is a factor that investors pay attention to, so companies need to manage their resources, assets, or capital to generate profits. Novelty - This research adds tax avoidance to seek explanations for tax planning efforts and their impact.
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- 2023
- Full Text
- View/download PDF
38. Do dividends still matter? The role of investment opportunities on the ability of dividends to predict future earnings
- Author
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Sila Ninin Wisnantiasri
- Subjects
dividend ,dividend signaling ,investment opportunities ,future earnings ,Accounting. Bookkeeping ,HF5601-5689 - Abstract
Research aims: This study investigates the role of firm characteristics explained by the investment opportunity (IO) on the ability of dividends to predict future earnings. Design/Methodology/Approach: This study performed an empirical study on firms listed in the consumer goods sub-sector on the Indonesian Stock Exchange, divided into companies with strong and weak IO categories to clearly see the role of IO by comparing the variable dividend coefficients of the two sample categories. Through purposive sampling, the researcher determined the research sample, totaling 42 firm samples for the weak IO category and 48 firm samples for the strong IO category. Then, the multiple regression analysis utilizing IBM SPSS Statistic Version 23 was employed to analyze the relationship between variables. Research findings: Surprisingly, companies with weak IO showed a more remarkable ability to predict future earnings than companies with strong IO because the dividend coefficient of companies with weak IO was higher than that of strong IO, denoting that the number could explain the strength of ability. Theoretical contribution/Originality: The result provides alternative explanations to the previous inconsistent results from the dividend's ability to predict future earnings. The result also supports the argument that the companies with weak IO may use dividends to convey information signals and compensate the investor for unsatisfied performance, which is called counter-signal when strong IO refrain from doing so and rely on additional information. Practitioner/Policy implication: Investors should notice companies' characteristics, such as investment opportunities, while considering dividends as a signal for future performance to make an investment decision. Research limitation/Implication: The research did not fully capture all companies in Indonesian Stock Exchange, but specifically for the companies’ sub-sector that aggressively paid the dividend. Thus, future research is hoped to provide empirical studies for other sector companies listed on Indonesia Stock Exchange to enrich alternative explanations.
- Published
- 2023
- Full Text
- View/download PDF
39. R&D intensity and firms dividend policy: evidence from BRICS countries
- Author
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Hasan, Fakhrul, Shafique, Sujana, Das, Bijoy Chandra, and Shome, Rajib
- Published
- 2022
- Full Text
- View/download PDF
40. Dividend Versus Investment – Cash Flow Allocation
- Author
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Elżbieta Bukalska, Anna Maziarczyk, and Kinga Ociesa
- Subjects
cash flow ,dividend ,investment ,corporate investment ,dividend payouts ,Public finance ,K4430-4675 ,Economic theory. Demography ,HB1-3840 - Abstract
The aim of the article is to find out about the pattern in which operating cash flows are allocated between dividends and investment. We analyzed 419 companies from the Warsaw Stock Exchange and covered the period of 2007-2020 with 4,760 firm-year observations. We prepared regression models for the dividend and investment ratio depending on the company specificity. We found a positive relation between dividends and investment. Additionally, we found that with the increase of operating cash flow, both dividends and investment increase. We think that the best explanation of our findings lies in the free cash flow hypothesis and signaling theory of dividends. Dividends and investment might be a tool to mitigate managerial decisions and at the same time a tool to send a positive signal to the investor about the present and future good financial situation. The results contribute to the literature on firms’ investment- and dividend-cash flow sensitivity and the order of decisions: in a residual dividend policy, investment decisions are made first and the remaining profit is paid out as dividends while another theoretical approach implies that firms decide first on their dividend level, and then make investment decisions as they are reluctant to cut dividends.
- Published
- 2022
- Full Text
- View/download PDF
41. Reviewing the Relationship between Dividend and Free Cash Flow of NonFinancial Firms of KSE 100
- Author
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Muhammad Muddasir and Saad Ullah Mughal
- Subjects
free cash flow ,dividend ,kse-100 ,non-financial firms ,regression analysis ,Economic theory. Demography ,HB1-3840 ,Economics as a science ,HB71-74 - Abstract
Dividend payments are the primary concern of short-term investors, while free cash flow is for long-term investors. In accordance with, the first aim of the study is to the measures of long term and short-term investments and secondly, we have checked whether the dividend payout of the small fifty and big fifty firms are indifferent or not regarding free cash flow. For this research, the sample size we took was all the non-financial listed companies in the KSE 100 Index of Pakistan Stock Exchange (PSX), between the time period starting from 2009 to 2018. We developed four regression models in total to examine our hypothesis and developed our models into two different series. In the end our results came out as expected and we have been able to concur with our defined objectives. We can conclude that, first, there is a strong relationship between long-term and short-term investments and when it comes to payment of dividends, the firms are different depending upon their size. It implies that investors are likely to consider both factors when making investment decisions. This could mean that investors will prioritize companies that demonstrate both strong long-term growth potential and short-term financial stability.
- Published
- 2022
- Full Text
- View/download PDF
42. The Effect of Board Gender Diversity on Dividend Payments: Evidence from Indonesia
- Author
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Eldinar Isty Fauziah, Agung Nur Probohudono, and Doddy Setiawan
- Subjects
board ,gender ,diversity ,dividend ,payments ,agency theory ,Business ,HF5001-6182 - Abstract
Keywords: Board Gender Diversity, Dividend Payments, Agency Theory. This research aims to analyze the impact of board gender diversity on dividend payments in Indonesia. Indonesia is one of the emerging economies. Some of the institutional specificities of emerging economies are the lack of protection of minority shareholders' rights, and market uncertainty may increase agency problems that raise doubts about future cash flows such as dividend payments. This research uses the data of listed firms from Indonesia Stock Exchange over the period 2013-2016. The data collection method uses purposive sampling. Indonesia implements a two-tier system that has directors and commissioners. We find evidence indicating that women directors are negatively related to the dividend payment, while women commissioners have positively related to the dividend payment. Moreover, we find that women independent directors, women executive directors, and women executive commissioners are positively associated with dividend payments, while women independent commissioners do not have an effect on dividend payments. The sample in this study is limited because the payment of dividends is not a necessity. This study provides the view that board gender diversity can create systems that make better decisions and encourage women to have a chance to participate in top management.
- Published
- 2022
- Full Text
- View/download PDF
43. Stochastic differential game strategies in the presence of reinsurance and dividend payout.
- Author
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Mhlanga, Farai Julius, Galane, Lesiba Charles, Mwareya, Nicholas, Chikodza, Eriyoti, and Guambe, Calisto
- Subjects
DIFFERENTIAL games ,REINSURANCE ,STRATEGY games ,COST functions ,DIVIDENDS - Abstract
This paper presents and examines a problem in which two insurance companies apply non-proportional reinsurance to control risk. Additionally, each firm pays out dividends. The situation is modelled as a zero-sum stochastic differential game between the two companies. The goal of one company is to maintain business competitive advantage over the other by sustaining or increasing the difference between the respective liquid reserves of the two companies while the second company aims to minimise that difference. A verification theorem is formulated, proved and subsequently employed to derive the saddle point components. For the case of the payoff with a non-zero running cost function, we are able to solve explicitly the differential game. Numerical simulations are presented to illustrate the results as well as the economic interpretation. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
44. Growth Opportunities, Information Asymmetry, and Dividend Payout: Evidence from Mandatory IFRS Adoption.
- Author
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Agarwal, Nishant and Chakraverty, Arkaja
- Subjects
DIVIDEND policy ,INFORMATION asymmetry ,INTERNATIONAL Financial Reporting Standards ,DIVIDENDS ,CAPITAL allocation ,INVESTORS - Abstract
We study how the relationship between a firm's growth opportunities and its dividend policies shifts in response to a reduction in information asymmetry between investors and firms. Existing literature suggests a negative relationship between growth opportunities and dividend payouts in the presence of information asymmetry. Using the mandatory adoption of IFRS (International Financial Reporting Standards) as an exogenous shock to the information environment of a firm, we document that the negative relationship between growth opportunities and dividend payout strengthens. This suggests IFRS adoption improves capital allocation by shifting dividend demand towards low-growth firms and reducing dividend demand from high-growth firms. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
45. Earnings Management and Dividend Payments during the Covid-19 Pandemic
- Author
-
Ivica Filipović, Marijana Bartulović, and Toni Šušak
- Subjects
coronavirus ,covid-19 ,crisis ,dividend ,earnings management ,Social sciences (General) ,H1-99 - Abstract
The recent outbreak of coronavirus has caused the worst global economic crisis in the last few decades. A substantial number of companies have experienced severe economic difficulties and were tempted to adjust their financial figures in order to reach certain business thresholds. Maintaining an existing level of dividend payments is a powerful incentive to engage in such activities. The aim of this article was to estimate the effect of the economic crisis caused by the COVID-19 pandemic on the relationship between the estimated level of earnings management and dividend payments made by companies. Research models were estimated using panel analysis. The Modified Jones model was utilized to assess the level of earnings management. A total of 56 companies listed on the Zagreb Stock Exchange in the Republic of Croatia with their financial data from 2015 to 2020 were included in the research sample. Unlike in the case of absolute and income-decreasing discretionary accruals, results indicated that the economic crisis caused by the COVID-19 pandemic positively affected the relationship between earnings management and dividend payments in the case of income-increasing accruals regarding companies that made regular dividend payments. In conclusion, the economic crisis caused by the COVID-19 pandemic was an additional incentive for certain companies to perform income-increasing earnings management to reach the desired level of dividend payments.
- Published
- 2022
- Full Text
- View/download PDF
46. Study on the Relationship Between Dividend, Business Cycle, Institutional Investor and Stock Risk
- Author
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Tsai, Yung-Shun, Chang, Chun-Ping, Tzang, Shyh-Weir, Kacprzyk, Janusz, Series Editor, Gomide, Fernando, Advisory Editor, Kaynak, Okyay, Advisory Editor, Liu, Derong, Advisory Editor, Pedrycz, Witold, Advisory Editor, Polycarpou, Marios M., Advisory Editor, Rudas, Imre J., Advisory Editor, Wang, Jun, Advisory Editor, Barolli, Leonard, editor, Yim, Kangbin, editor, and Chen, Hsing-Chung, editor
- Published
- 2022
- Full Text
- View/download PDF
47. SUSTAINABILITY REPORTING AND FINANCIAL PERFORMANCE OF LISTED MANUFACTURING FIRMS IN NIGERIA
- Author
-
Olabode Olutola Aiyesan
- Subjects
community relation ,research & development ,dividend ,employee relation ,financial performance ,Finance ,HG1-9999 - Abstract
This study examines the effect of sustainability reporting (SR) on financial-performance of listed manufacturing firms in Nigeria from 2010 to 2020. Ex-post facto research design was employed and 24 firms form 8 sectors were sampled. Data were sourced from their annual report and analysed using Panel-regression technique. The study found positive significant connection linking DP, ERS and R&D and financial performance while CRS has negative insignificant effect on financial-performance. Base on the findings, the study concluded that SR has positive influence on financial-performance of listed manufacturing firms in Nigeria. The study recommended that relevant authorities should encourage firms to report SR on real-time and make reporting compulsory and not voluntary. There should be strict enforcement on firms to increase investment in R&D as this will increase profitability and help climate change.
- Published
- 2023
- Full Text
- View/download PDF
48. Impact of Financial Distress on the Dividend Policy of Banks in India.
- Author
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Sidhu, Anureet Virk, Jain, Pooja, Singh, Satyendra Pratap, Kanoujiya, Jagjeevan, Rawal, Aashi, Rastogi, Shailesh, and Bhimavarapu, Venkata Mrudula
- Subjects
DIVIDEND policy ,BANKING policy ,DIVIDENDS ,SHAREHOLDER activism ,BANKING industry ,BANK management - Abstract
The present study primarily examines the impact of financial distress (FD) on the dividend policy of 33 banks working in the Indian economy from 2010 to 2019. In addition, we further explore the association between financial distress and dividend policy under the influence of shareholder activism (SHA). Using the static panel data regression technique, it is revealed that financial distress is non-linearly associated with the dividend policy of banks in an inverted U-shape. In the initial phase of a distressing situation, banks tend to have a liberal dividend policy. However, after reaching the pressure point, the banks start to squeeze dividend distribution to the stakeholders. Furthermore, the significant impact of shareholder activism has been found in the association between financial distress and the dividend payout policy of banks. From the policy perspective, the study will provide the policymakers with a clear all-round perspective of distressing situations, as the current research involves exploring the impact of distress on the dividend policy that will help the experts in basically understanding the adverse effect of financial distress and the repercussions, respectively, on the earning of the shareholders. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
49. TWİTTER KULLANICILARININ TEMETTÜ YATIRIMLARINDA TERCİH ETTİKLERİ ŞİRKETLERİN METİN MADENCİLİĞİ İLE TESPİT EDİLMESİ.
- Author
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TUNA, Murat Fatih and POLATGİL, Mesut
- Subjects
- *
ALTERNATIVE investments , *INDIVIDUAL investors , *ELECTRONIC portfolios , *DIVIDENDS , *TEXT mining , *CONSUMERS - Abstract
With the increasing use of technology, people have had tools and environments where they can easily share their opinions on almost any subject. An important part of these ideas is related to investment issues. Twitter stands out in this regard and constitutes an important data source for many studies. In many studies, the ideas received on Twitter are analysed and price predictions are made for many products. On the other hand, dividend retirement and dividend investing have become extremely attractive especially for individuals in the small investor class in recent years, and accordingly, individuals have tended to this investment channel especially for their children and families. Individuals also share on Twitter platform about these investments they have made and exchange ideas with each other. At this point, people who will prefer the investment type mentioned are sometimes unsure about which companies to invest in. The aim of this study is to determine the dividend companies that Twitter users like and comment the most and to create alternative investment portfolios. Thus, it has been focused on the most mentioned, most liked, most commented, and most directed (retweeted) tweet features in the study. Moreover, a total of five portfolios have been created with the companies identified from the data. The return conditions of these portfolios have been given in the context of Modern Portfolio Theory based on the last year returns of the firms. It has been determined that the portfolio created according to the retweet status creates the best return from the portfolios. It is thought that the portfolios presented within the scope of the study and the investment alternatives they contain will benefit consumers who are interested in dividend investing. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF
50. Demographics and Insurance.
- Author
-
Biswas, Riddhi
- Subjects
INSURANCE ,POLITICAL stability ,APOCALYPSE - Abstract
Demographics and Insurance are very much connected. However, their influence to each other is hardly palpable if analyzed in isolation. There are other key levers which must be calibrated in desired levels of convenience and amenability before we establish their relationships. If those factors are on positive side, insurance stands as an ally in apocalypse and a friend in fortuity. Both can then sing paean to each other. Else, insurance has a little role to play where unfathomable uncertainty and staggering snafu like a war steps in. The article, thus, discusses those nuances diligently. It has endeavored to buttress its points with facts and figures from various geographies and fields across the globe. However, a special attention has been showered to India where the world's almost 15% population live in with a diverse background. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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