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Effect of Dividend Policy Measures on Stock Prices: With Reference to Karachi Stock Exchange, Pakistan
Karlstad University, Faculty of Economic Sciences, Communication and IT.
2011 (English)Independent thesis Advanced level (degree of Master (Two Years)), 10 credits / 15 HE creditsStudent thesisAlternative title
The relationship between dividend policy measures and stock prices (English)
Abstract [en]

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.

Place, publisher, year, edition, pages
2011. , 36 p.
Series
Karlstad University Studies, ISSN 1403-8099
Keyword [en]
Dividend policy measures, Stock prices and accounting variables
National Category
Business Administration
Identifiers
URN: urn:nbn:se:kau:diva-7825Local ID: FEK D-93OAI: oai:DiVA.org:kau-7825DiVA: diva2:427226
Subject / course
Business Administration
Presentation
2011-01-19, 11a223, Karlstad Universitet, Karlstad, 15:00 (English)
Uppsok
Social and Behavioural Science, Law
Supervisors
Examiners
Available from: 2011-07-21 Created: 2011-06-27 Last updated: 2011-10-03Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
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Output format
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