Block-Holders and Dividends: Evidence from Pakistan
| Autor: | Shazia Sarwar, Raheel Mumtaz, Muhammad Farooq Rehan |
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| Rok vydání: | 2021 |
| Zdroj: | NICE Research Journal. :69-90 |
| ISSN: | 2517-987X 2219-4282 |
| DOI: | 10.51239/nrjss.vi.316 |
| Popis: | This study is designed to examine the effect of multiple large shareholders on dividend payouts. We employed the data of seventy-five non-financial firms of the KSE-100 index from 2006 to 2018. Results report that the multiple large shareholders have a significant negative effect on dividend payouts. It implies that a weak legal structure supports large shareholders to expropriate wealth from the minorities. Moreover, we find that firms pay more dividends when they have a high level of profitability, larger assets, lower debt in the capital mix, and greater cash holding. Thus, our study contributes to the scant literature of block-holders and dividend payouts policy. |
| Databáze: | OpenAIRE |
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