Artikel
Effect of family control on corporate dividend policy of firms in Pakistan
This study examines the impact of family control on the dividend policy of firms in Pakistan, covering the period from 2009 to 2016. It also investigates whether family control moderates the impact of firm-specific factors on the dividend policy. The GMM model for panel data estimation is used. The mean difference univariate analysis shows that family firms differ from nonfamily firms based on financial characteristics. The multivariate analysis shows that family firms pay lower dividends than nonfamily firms. Besides, firm size inversely affects the dividend policy, whereas tangibility positively affects it. Moreover, family control does not moderate the impact of all firm-specific factors on the dividend policy. Overall, family control, size, and tangibility are found to be the main determinants of the dividend policy in Pakistan.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Financial Innovation ; ISSN: 2199-4730 ; Volume: 5 ; Year: 2019 ; Issue: 1 ; Pages: 1-13 ; Heidelberg: Springer
- Klassifikation
-
Management
- Thema
-
Family firm
Family ownership
Dividend
Minority shareholder
Expropriation
Agency conflicts
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Yousaf, Imran
Ali, Shoaib
Hassan, Arshad
- Ereignis
-
Veröffentlichung
- (wer)
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Springer
- (wo)
-
Heidelberg
- (wann)
-
2019
- DOI
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doi:10.1186/s40854-019-0158-9
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Yousaf, Imran
- Ali, Shoaib
- Hassan, Arshad
- Springer
Entstanden
- 2019
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