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...

Full description

Bibliographic Details
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/ http://ir.uitm.edu.my/id/eprint/18252/2/PPm_FARAZIDA%20MOHD%20AKIT%20AAG%2014_5.pdf

id	uitm-18252
recordtype	eprints
spelling	uitm-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)
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
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/ http://ir.uitm.edu.my/id/eprint/18252/2/PPm_FARAZIDA%20MOHD%20AKIT%20AAG%2014_5.pdf
first_indexed	2023-09-18T23:00:06Z
last_indexed	2023-09-18T23:00:06Z
_version_	1777418115682926592

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

Similar Items