Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan

Basir Malan, Irfah Najihah (2018) Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan. In: The Doctoral Research Abstracts. IGS Biannual Publication, 14 . Institute of Graduate Studies, UiTM, Shah Alam.

Abstract

This study provides empirical evidence on the pyramidal ownership structure, dividend policy as governance mechanism on agency problem and value relevance of earnings information in Malaysia public listed firms. For determinants of pyramid structure, all variables with exception to financial institution holding are significant at 1% significance level. The other variables such as cash and dividend payout ratio are insignificant. Meanwhile, the variables such as pyramid structure, risk, size, capital expenditure, debt, dividend payout ratio and liquidity are among the factors that significantly affect the corporate value as well as the dilution of minority interest at 1% and 5% significance level respectively. The effect of pyramid firms on corporate value is more pronounced when the pyramid firms are segregated into high cash flow right (CFR) ratio firms and low CFR ratio firms. For high CFR ratio firms, only four variables are significant which are capital expenditure, duality, stock liquidity and size. For low CFR ratio firms, the variables such as pyramid firm, size, capital expenditure, debt ratio, dividend payout ratio, duality and stock liquidity posit significant relationship with corporate value. The other three variables such as risk, cash and financial institution holding as second largest shareholders are insignificant…

Metadata

Item Type: Book Section
Creators:
CreatorsID Num. / Email
Basir Malan, Irfah NajihahUNSPECIFIED
Subjects: H Social Sciences > HB Economic Theory. Demography > Economics
H Social Sciences > HG Finance > Financial management. Business finance. Corporation finance > Dividends. Stock dividends. Dividend reinvestment > Malaysia
Divisions: Universiti Teknologi MARA, Shah Alam > Institut Pengajian Siswazah (IPSis) : Institute of Graduate Studies (IGS)
Series Name: IGS Biannual Publication
Volume: 14
Item ID: 22053
Uncontrolled Keywords: Abstract; Abstract of thesis; Newsletter; Research information; Doctoral graduates; IPSis; IGS; UiTM; dividend policy
URI: http://ir.uitm.edu.my/id/eprint/22053

Download

[img]
Preview
Text (ABSTRACT ONLY)
ABS_IRFAH NAJIHAH BASIR MALAN TDRA VOL 14 IGS 18.pdf - Submitted Version

Download (5MB) | Preview

Actions (login required)

View Item View Item

Downloads

Downloads per month over past year