Universiti Teknologi Malaysia Institutional Repository

Dividend preferences: evidence from panel data

Anjum, Muhammad Jamil and Sadiq, Misbah and Karami, Meisam and Rehman Khan, Saif Ur and Md. Rasli, Amran (2012) Dividend preferences: evidence from panel data. World Applied Sciences Journal, 19 (5). pp. 659-665. ISSN 1818-4952

Full text not available from this repository.

Official URL: http://idosi.org/wasj/wasj19(5)12/11.pdf


The study aims to investigate the dividend preferences in Pakistani capital market and further deals with the investigation of cash dividend preference of poorly performing firms list on Karachi Stock exchange. The study utilized the financial data for 2001-2011 of listed Pakistani firms to examine the behavior of distribution of cash dividends. Panel regression statistical technique was used. From the analysis, it is originated that poorly performing firms having lesser portion of tradable shares pay dividends in cash. The study finds that the cash dividend distribution behavior of poorly performing firms and describes the preference of directors. Further, low performing firms prefer cash dividends as compared to stock dividends as long as they have large percentage of directors or financial institutions or block-holders’ ownership of nontransferable shares. Furthermore, if a firm has mix of directors, financial institutions and block-holders’ ownership of nontransferable shares then the firm also prefer cash dividends.

Item Type:Article
Uncontrolled Keywords:Cash dividends, Non-tradable shares, Panel regression
Subjects:H Social Sciences > H Social Sciences (General)
Divisions:Management and Human Resource Development
ID Code:33449
Deposited By: Fazli Masari
Deposited On:28 Aug 2013 04:13
Last Modified:21 Oct 2018 04:30

Repository Staff Only: item control page