The objective of this research is to determine the impact of profitability, growth opportunities, risk, liquidity, firm size, leverage, taxation and audit type on dividend payout in order to increase understanding of the determinants of... more
The objective of this research is to determine the impact of profitability, growth opportunities, risk, liquidity, firm size, leverage, taxation and audit type on dividend payout in order to increase understanding of the determinants of dividend payout within Pakistani corporate environment. To meet the objective of this research, five year financial data from 2009-2014 of listed pharmaceutical companies is used and analyzed to determine the impact of selected variables on dividend payout. Correlation analysis and backward multiple linear regression is applied on the data to determine the association between variables and the impact of selected independent variables on dividend payout. Findings reveal that audit type, liquidity, growth opportunities & profitability are the key determinants of dividend payout of pharmaceutical companies of PSX. 31.90% variation in dividend payout is caused by these variables. Other independent variables including taxation, risk, firm size and leverage insignificantly influence dividend payout decisions of pharmaceutical companies of PSX.
Deciding about dividend payout ratio is a very important decision, that a company has to face. Examining factors that affects dividend payouts, helps company in making correct decisions related to dividend. This article examined the... more
Deciding about dividend payout ratio is a very important decision, that a company has to face. Examining factors that affects dividend payouts, helps company in making correct decisions related to dividend. This article examined the predetermined factors which affect the dividend payouts of 10 Pharmaceuticals companies which are listed on the NSE, India. This study covered the period of 2019-2020. From the previous studies, factors identified were, profitability, sales growth, tax, cash flows and debt. In this study, panel data method is used because researcher's data consists of both cross sectional and the time series data, and to verify this F-Limer has been used. T-statistics, probability and coefficient has also been calculated to study the Impact. The result showed that factors profitability and cash flows have negative impact on dividend payouts. While, the factor debt has positive impact on dividend payouts. Other factors such as tax and sales growth did not have any impact on profitability ratio.
This paper examines a sample of US Bank Holding Companies (BHCs) to determine if there is a relationship between managerial equity ownership (insider holdings) and the level of dividends paid out by the BHC. Given the findings of prior... more
This paper examines a sample of US Bank Holding Companies (BHCs) to determine if there is a relationship between managerial equity ownership (insider holdings) and the level of dividends paid out by the BHC. Given the findings of prior research, the analysis is performed using ...
This study was conducted to examine the influence of fundamental factors of profitability and liquidity on dividend policy (DPR). And furthermore the influence of profitability, liquidity and dividend policy (DPR) to return stock in... more
This study was conducted to examine the influence of fundamental factors of profitability and liquidity on dividend policy (DPR). And furthermore the influence of profitability, liquidity and dividend policy (DPR) to return stock in companies incorporated in the Jakarta Islamic Index listed on the Indonesia Stock Exchange for the period 2010-2013. The sampling technique used in this research is purposive sampling with criteria : (1) It is listed in Indonesia Stock Exchange 2010-2013. (2) It is always seem annual financial statements for the period 2010-2013. (3) It is always pay dividends. The data required in this study were drawn from the Indonesian Capital Market Directory (ICMD) from 2010 to 2013 consisting of 20 companies. Multiple regression analysis of the data. Hypothesis test used the t-statistic at the 5% significance level. The results showed profitability and dividend policy (DPR) have a significant effect on stock returns. These results indicate that the performance of the fundamental factors of profitability and dividend payout on stock returns are used by investors to predict stock returns manufacturing companies listed in Indonesia Stock Exchange in 2010-2013. PENDAHULUAN Perusahaan merupakan suatu unit kegiatan produksi yang mengelola sumber-sumber ekonomi untuk menyediakan barang dan jasa bagi masyarakat dengan tujuan untuk memperoleh keuntungan dan dapat memuaskan kebutuhan masyarakat. Tujuan perusahaan adalah untuk memaksimalisasikan kesejahteraan pemilik perusahaan atau pemegang saham dengan cara meningkatkan nilai perusahaan Melalui pasar modal para investor dapat melakukan kegiatan invesatasi pada perusahaan tertentu dengan melakukan pembelian saham atau surat-surat berharga. Salah satu tujuan dan alasan para investor melakukan kegiatan investasi di pasar modal adalah untuk mendapatkan return atas hasil investasi mereka guna mendapatkan kehidupan yang lebih layak di kehidupan yang akan datang.Semakin tinggi resiko suatu investasi maka semakin tinggi pula tingkat keuntungan (return) yang disyaratkan oleh investor (Jogiyanto, 2008). Return atau pengembalian atas kegiatan investasi merupakan penghasilan yang di terima dari suatu investasi di tambah dengan perubahan harga pasar, yang biasanya dinyatakan sebagai persentase dari harga pasar awal dari investasi tersebut (James & Jhon, 2009).Semakin tinggi harga jual saham di atas harga belinya, maka semakin tinggi pula return yang diperoleh investor (Ang, 1997). Tingkat return atas hasil kegiatan investasi dari pembelian saham sangat
