A study on dividend policy and value of the firm: managerial perspectives in Malaysia / Oswald Timothy Edward , Chu Hong Heng , Lau Gee Choon

Oswald Timothy Edward, . and Chu Hong Heng, . and Lau Gee Choon, . (2005) A study on dividend policy and value of the firm: managerial perspectives in Malaysia / Oswald Timothy Edward , Chu Hong Heng , Lau Gee Choon. [Research Reports] (Unpublished)

Abstract

This study investigates the views of corporate managers about the relationship between
dividend policy and value; explanations of dividend relevance including the bird-in-thehand,
signaling, tax-preference, and agency explanations; and how firms determine the
amount of dividends to pay. We obtain data from 2004 mail survey sent to 207 chief
financial officers/financial controller/corporate managers of firms listed on the Bursa
Malaysia. Based on 64 usable responses, the empirical result show that most survey
respondents believe that dividend policy affects firm value. Of the four explanations for
dividend relevance, the respondents generally express the highest level of agreement with
statements about signaling. The results also show that managers are concerned about the
continuity of dividends when setting dividend payments

Metadata

Item Type: Research Reports
Creators:
Creators
Email / ID Num.
Oswald Timothy Edward, .
UNSPECIFIED
Chu Hong Heng, .
UNSPECIFIED
Lau Gee Choon, .
UNSPECIFIED
Subjects: H Social Sciences > HG Finance > Financial management. Business finance. Corporation finance > Dividends. Stock dividends. Dividend reinvestment
Divisions: Universiti Teknologi MARA, Johor > Segamat Campus
Keywords: Dividend, Corporate, Firm
Date: 2005
URI: https://ir.uitm.edu.my/id/eprint/3819
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