Purpose: The objective of the paper is to examine the impact of corporate governance on the dividend payout policy of firms listed on the Pakistan stock exchange during 2010-2020. As Pakistani investors face issues regarding their return in the shape of dividends and depend upon the firm’s corporate governance strength. To test whether changes in firm code of corporate governance have a significant influence on dividend policy. Design/Methodology/Approach: The panel data has been used for the period 2010-2020 and panel least square has been applied. Further, to test the association, following factors such delisting risk, government tenure, political connection with institutional shareholding as many political firms hold corporate shares which influence the decision to pay dividends. Findings: Findings from the fixed effect model show that corporate governance has a negative impact on dividend policy while government tenure, politically connected firm has a positive impact on the dividend. The study also concludes that firm size, profitability, tax, asset turnover, leverage, and firm shareholding also influence firm dividend payment behavior. Implications/Originality/Value: The implication of study reveals that firms must focus on strong their governance and include more independent directors on the board which leads to favorable strategies regarding investors. The investor must invest in those firm where lower political connection, pay continuous dividend either high or low decease/increase delisting chances, strong corporate governance and firm specific factors also lead to make decision of dividend payment.
Purpose: A company’s capital structure is a blend of its equity and debt financing and is considered a significant factor in the valuation of any firm. The decisions related to capital structure formation play an integral role for the firms, therefore; this research tends to explore the factors of capital structure and their impact on firm performance. For this purpose, financial data for different listed companies in PSX has been gathered, and dividends and taxes are used as firm external factors. Design/Methodology/Approach: To examine the impact, the panel data has been used for the period 2016-2020 and panel least square has been applied. Findings: The findings suggest that among the variables current ratio, dividends, taxation, total debt to total equity ratio, and the firm size are statistically significant to profitability. The study also concludes that dividends and tax have a greater impact on capital structure and firm performance. Implications/Originality/Value: Managers and owners of the firms must make sure that their profits are used for future investments rather than payment of debts to avoid bankruptcy.
Islam is a religion that guides its followers in every aspect of life including economic activities. Islamic banks provide services to their customers on the basis of Islamic principles (Sharia) and guided by Islamic economics. Many factors influence customer Purchase Intention towards Islamic banking services. This study investigates the influence of Religiosity, Bank Image and Perceived Quality on Customer Purchase Intention towards Islamic Banking Services in Pakistan with the mediating role of Customer Attitude. Questionnaire (survey) was conducted to know the customer response about Islamic Banking. A sample of 250 bank customers was taken as respondents. A 5 point Likert scale was used to measure customer responses. Correlations and SEM tests are applied for complete study analysis by using IBM SPSS V21 and AMOS V 21. The findings of the study indicate that Perceived Quality and Bank Image are more influencing factors in determining Customer Purchase Intention. Religiosity also has significant role in forming the customer Purchase Intention towards Islamic banking services. The results suggest that marketers at Islamic banks should adapt marketing strategies that enhance Bank Image and Perceived Quality.
The objective of this study was to explore the main factors of dividend policy determinants. For this purpose, a sample of 150 listed firms in PSX taken into account for the period of 2008-2018. A secondary data taken from SBP publication, Stock exchange collected for this study and variables used size, debt ratio, profitability, size, investment, Firm’s Maturity, Market Capitalization, Return on Equity (ROE), Growth in Sales and leverage was utilized using Panel regression techniques. Data of dividend shows most of the period dividend amount and dividend firms increased during the period of research 2008-18. The trend also shows that dividend pattern increase as base year data to end period study during both democratic governments. Study findings also show that three different aspects of the dividend payment propensity during 2008-2018. Results show that payment of dividend is declined mostly in the small and newly firms because they have less income generated from profit, younger firms, and firms as compared with highly investment pattern of firm, high debts, higher risk in their business and high tax rates on dividend. The Study also finds a significant and positive association with propensity to pay dividend of catering theory and support the catering theory.
The purpose of this paper is to investigate the perceptions of business managers in the furniture sector regarding the relationship between business success and personnel knowledge. To achieve this goal, the study will use a quantities research approach to collect data from business managers working in different furniture sector in District Chiniot, Lahore, and Gujrat. The study used a measurement technique called Likert scale and included a variable that cannot be directly observed, called a latent variable that’s why used statistical model called Structural Equation Modeling (SEM). According to the findings of the study, certain factors have a significant impact on both personnel knowledge and business success. Specifically, the results indicated that management practices related to safety regulations, regulation laws, motivation of personnel, total quality management, product certification, and competitive positioning are highly correlated with personnel knowledge. This suggests that when these management practices are implemented effectively, employees are more likely to have the knowledge and skills necessary to perform their job duties efficiently, which can ultimately contribute to the success of the business. On the other hand, the study also found that factors such as new product development, sales abilities, total quality management, competitive positioning, and product pricing are highly associated with changes in business success. This means that when business focus on improving these areas, they are more likely to see positive changes in their overall success and performance. To begin an effort focused on enhancing skills, it is essential to first concentrate on owners by offering them excellent training services. These services should produce concrete improvements in productivity and illustrate the significance of skill improvement.
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