Running head: Determinants of dividend pay out ratio of companies

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dc.contributor.authorMuhammad Waqar Akram
dc.date.accessioned2016-05-18T12:26:56Z
dc.date.available2016-05-18T12:26:56Z
dc.date.issued2016
dc.descriptionSupervisor: Mr. Muhammad Mehmood Shah Khanen_US
dc.description.abstractThe Cement sector has been most attractive sector in both Pakistanand India for investment prospects.The Governments of both countries are investing in different types of infrastructure facilities which will boost cement sector ultimately. The objective of this study is to find the factorswhose decide the dividend policy of cement sector of Karachi Stock Exchange (KSE)&Bombay Stock Exchange (BSE). The dividend payout ratio (Cash Dividend/Net Profit) has been used as dependent variable and leverage (Debt/Equity), liquidity (Current ratio), profitability (Net Profit), investment opportunity (retained earnings/total assets) as independent variables and size (total assets), growth (Sales growth) and tangibility (Fixed assets/total assets) as control variables.The data has been extracted from annual reports of 40 companies (17-KSE and 23-BSE)from 2009 to 2015.The regression analysis with fixed and random effect used.The results show that profitability, liquidity have positive and significant effect on dividend payout ratio and Leverage, investment opportunity have negative impact on dividend payout ratio. Size, growth and tangibility also have direct relation with dividend payout ratios. The tangibility has significant effect in KSE only whereas in BSE, it is not effecting significantly. The BSE companies are paying dividend more consistentlythan KSE Companies.en_US
dc.identifier.urihttps://escholar.umt.edu.pk/handle/123456789/1951
dc.publisherUniversity of Management and Technologyen_US
dc.subjectMS Thesisen_US
dc.subjectof Karachi stock exchangeen_US
dc.subjectBombay stock exchangeen_US
dc.subjectDividend payout ratioen_US
dc.titleRunning head: Determinants of dividend pay out ratio of companiesen_US
dc.titleRunning head: determinants of dividend pay out ratio of companiesen_us
dc.typeThesisen_US
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