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Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah

The purpose of this study is to examine the impact of dividend policy on the shareholders’ wealth of Shariah and non-Shariah compliance companies listed in Bursa Malaysia main market. A sample of 274 Shariah compliance companies and 129 non-Shariah compliance companies listed on Bursa Malaysia for t...

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Main Authors: Mohd Akit, Farazida, Hamzah, Nor Haliza
Format: Student Project
Language:English
Published: Arshad Ayub Graduate Business School 2014
Online Access:http://ir.uitm.edu.my/id/eprint/18252/2/PPm_FARAZIDA%20MOHD%20AKIT%20AAG%2014_5.pdf
http://ir.uitm.edu.my/id/eprint/18252/
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spelling my.uitm.ir.182522019-08-22T03:38:22Z http://ir.uitm.edu.my/id/eprint/18252/ Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah Mohd Akit, Farazida Hamzah, Nor Haliza The purpose of this study is to examine the impact of dividend policy on the shareholders’ wealth of Shariah and non-Shariah compliance companies listed in Bursa Malaysia main market. A sample of 274 Shariah compliance companies and 129 non-Shariah compliance companies listed on Bursa Malaysia for the period of 2004 to 2013 has been selected for this study. The results are obtained through two-way fixed-effect Generalized Least Squares (GLS) regression for Shariah compliance companies and random-effect GLS regression for non-Shariah compliance companies. The identified determinants are dividend per share (DPS), retained earnings per share (REPS), return on equity (ROE), lagged price earnings ratio (PER,_|), financial leverage (DTE) and firm’s size (InTA). The results indicates that the measurements for dividend policy (DPS and REPS) are significant determinants of shareholders’ wealth for both Shariah and non-Shariah compliance companies. On the other hand, it is revealed that financial leverage is an influential determinant of shareholders’ wealth for Shariah compliance companies but not for non-Shariah companies. Arshad Ayub Graduate Business School 2014 Student Project NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/18252/2/PPm_FARAZIDA%20MOHD%20AKIT%20AAG%2014_5.pdf Mohd Akit, Farazida and Hamzah, Nor Haliza (2014) Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah. [Student Project] (Unpublished)
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
description The purpose of this study is to examine the impact of dividend policy on the shareholders’ wealth of Shariah and non-Shariah compliance companies listed in Bursa Malaysia main market. A sample of 274 Shariah compliance companies and 129 non-Shariah compliance companies listed on Bursa Malaysia for the period of 2004 to 2013 has been selected for this study. The results are obtained through two-way fixed-effect Generalized Least Squares (GLS) regression for Shariah compliance companies and random-effect GLS regression for non-Shariah compliance companies. The identified determinants are dividend per share (DPS), retained earnings per share (REPS), return on equity (ROE), lagged price earnings ratio (PER,_|), financial leverage (DTE) and firm’s size (InTA). The results indicates that the measurements for dividend policy (DPS and REPS) are significant determinants of shareholders’ wealth for both Shariah and non-Shariah compliance companies. On the other hand, it is revealed that financial leverage is an influential determinant of shareholders’ wealth for Shariah compliance companies but not for non-Shariah companies.
format Student Project
author Mohd Akit, Farazida
Hamzah, Nor Haliza
spellingShingle Mohd Akit, Farazida
Hamzah, Nor Haliza
Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah
author_facet Mohd Akit, Farazida
Hamzah, Nor Haliza
author_sort Mohd Akit, Farazida
title Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah
title_short Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah
title_full Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah
title_fullStr Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah
title_full_unstemmed Impact of dividend policy on the shareholders’ wealth: Shariah vs non-Shariah companies listed in Bursa Malaysia / Farazida Mohd Akit and Nor Haliza Hamzah
title_sort impact of dividend policy on the shareholders’ wealth: shariah vs non-shariah companies listed in bursa malaysia / farazida mohd akit and nor haliza hamzah
publisher Arshad Ayub Graduate Business School
publishDate 2014
url http://ir.uitm.edu.my/id/eprint/18252/2/PPm_FARAZIDA%20MOHD%20AKIT%20AAG%2014_5.pdf
http://ir.uitm.edu.my/id/eprint/18252/
_version_ 1685649056773177344
score 13.211869

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