Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan
The objective of this study is to examine the dividend policy measures effect on the stock prices. A sample of 171 listed companies from Karachi Stock Exchange, Pakistan is examined for a period from 1998 to 2006. The dependent variable stock price volatility is regressed against the dividend policy...
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Karlstads universitet, Fakulteten för ekonomi, kommunikation och IT
2011
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ndltd-UPSALLA1-oai-DiVA.org-kau-78252013-01-08T13:33:23ZEffect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, PakistanengThe relationship between dividend policy measures and stock pricesUllah, SaifKarlstads universitet, Fakulteten för ekonomi, kommunikation och IT2011Dividend policy measuresStock prices and accounting variablesBusiness studiesFöretagsekonomiThe objective of this study is to examine the dividend policy measures effect on the stock prices. A sample of 171 listed companies from Karachi Stock Exchange, Pakistan is examined for a period from 1998 to 2006. The dependent variable stock price volatility is regressed against the dividend policy measures (independent variables) e.g., dividend yield, dividend payout ratio, actual cash dividends and dividend to total assets of the firm, after controlling for firms’ profitability, liquidity, gearing, size and growth. This study finds that, dividend policy measures have strong effect on the stock market prices but results are contradictory to earlier research in Pakistan. Dividend payout and actual cash dividends have negative, significant relationship with stock prices and dividend yield have significant positive relationship with stock market prices. Student thesisinfo:eu-repo/semantics/bachelorThesistexthttp://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-7825Local FEK D-93Karlstad University Studies, 1403-8099application/pdfinfo:eu-repo/semantics/openAccess |
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English |
format |
Others
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Dividend policy measures Stock prices and accounting variables Business studies Företagsekonomi |
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Dividend policy measures Stock prices and accounting variables Business studies Företagsekonomi Ullah, Saif Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan |
description |
The objective of this study is to examine the dividend policy measures effect on the stock prices. A sample of 171 listed companies from Karachi Stock Exchange, Pakistan is examined for a period from 1998 to 2006. The dependent variable stock price volatility is regressed against the dividend policy measures (independent variables) e.g., dividend yield, dividend payout ratio, actual cash dividends and dividend to total assets of the firm, after controlling for firms’ profitability, liquidity, gearing, size and growth. This study finds that, dividend policy measures have strong effect on the stock market prices but results are contradictory to earlier research in Pakistan. Dividend payout and actual cash dividends have negative, significant relationship with stock prices and dividend yield have significant positive relationship with stock market prices. |
author |
Ullah, Saif |
author_facet |
Ullah, Saif |
author_sort |
Ullah, Saif |
title |
Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan |
title_short |
Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan |
title_full |
Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan |
title_fullStr |
Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan |
title_full_unstemmed |
Effect of Dividend Policy Measures on Stock Prices : With Reference to Karachi Stock Exchange, Pakistan |
title_sort |
effect of dividend policy measures on stock prices : with reference to karachi stock exchange, pakistan |
publisher |
Karlstads universitet, Fakulteten för ekonomi, kommunikation och IT |
publishDate |
2011 |
url |
http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-7825 |
work_keys_str_mv |
AT ullahsaif effectofdividendpolicymeasuresonstockpriceswithreferencetokarachistockexchangepakistan AT ullahsaif therelationshipbetweendividendpolicymeasuresandstockprices |
_version_ |
1716523733622980608 |