Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan

Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan

This study provides empirical evidence on the pyramidal ownership structure, dividend policy as governance mechanism on agency problem and value relevance of earnings information in Malaysia public listed firms. For determinants of pyramid structure, all variables with exception to financial institu...

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Bibliographic Details
Main Author: Basir Malan, Irfah Najihah
Format: Book Section
Language:English
Published: Institute of Graduate Studies, UiTM 2018
Subjects:
Economics
Malaysia
Online Access:http://ir.uitm.edu.my/id/eprint/22053/
http://ir.uitm.edu.my/id/eprint/22053/1/ABS_IRFAH%20NAJIHAH%20BASIR%20MALAN%20TDRA%20VOL%2014%20IGS%2018.pdf
id uitm-22053
recordtype eprints
spelling uitm-220532018-11-12T06:13:30Z http://ir.uitm.edu.my/id/eprint/22053/ Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan Basir Malan, Irfah Najihah Economics Malaysia This study provides empirical evidence on the pyramidal ownership structure, dividend policy as governance mechanism on agency problem and value relevance of earnings information in Malaysia public listed firms. For determinants of pyramid structure, all variables with exception to financial institution holding are significant at 1% significance level. The other variables such as cash and dividend payout ratio are insignificant. Meanwhile, the variables such as pyramid structure, risk, size, capital expenditure, debt, dividend payout ratio and liquidity are among the factors that significantly affect the corporate value as well as the dilution of minority interest at 1% and 5% significance level respectively. The effect of pyramid firms on corporate value is more pronounced when the pyramid firms are segregated into high cash flow right (CFR) ratio firms and low CFR ratio firms. For high CFR ratio firms, only four variables are significant which are capital expenditure, duality, stock liquidity and size. For low CFR ratio firms, the variables such as pyramid firm, size, capital expenditure, debt ratio, dividend payout ratio, duality and stock liquidity posit significant relationship with corporate value. The other three variables such as risk, cash and financial institution holding as second largest shareholders are insignificant… Institute of Graduate Studies, UiTM 2018 Book Section PeerReviewed text en http://ir.uitm.edu.my/id/eprint/22053/1/ABS_IRFAH%20NAJIHAH%20BASIR%20MALAN%20TDRA%20VOL%2014%20IGS%2018.pdf Basir Malan, Irfah Najihah (2018) Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan. In: The Doctoral Research Abstracts. IGS Biannual Publication, 14 . Institute of Graduate Studies, UiTM, Shah Alam.
repository_type Digital Repository
institution_category Local University
institution Universiti Teknologi MARA
building UiTM Institutional Repository
collection Online Access
language English
topic Economics
Malaysia
spellingShingle Economics
Malaysia
Basir Malan, Irfah Najihah
Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan
description This study provides empirical evidence on the pyramidal ownership structure, dividend policy as governance mechanism on agency problem and value relevance of earnings information in Malaysia public listed firms. For determinants of pyramid structure, all variables with exception to financial institution holding are significant at 1% significance level. The other variables such as cash and dividend payout ratio are insignificant. Meanwhile, the variables such as pyramid structure, risk, size, capital expenditure, debt, dividend payout ratio and liquidity are among the factors that significantly affect the corporate value as well as the dilution of minority interest at 1% and 5% significance level respectively. The effect of pyramid firms on corporate value is more pronounced when the pyramid firms are segregated into high cash flow right (CFR) ratio firms and low CFR ratio firms. For high CFR ratio firms, only four variables are significant which are capital expenditure, duality, stock liquidity and size. For low CFR ratio firms, the variables such as pyramid firm, size, capital expenditure, debt ratio, dividend payout ratio, duality and stock liquidity posit significant relationship with corporate value. The other three variables such as risk, cash and financial institution holding as second largest shareholders are insignificant…
format Book Section
author Basir Malan, Irfah Najihah
author_facet Basir Malan, Irfah Najihah
author_sort Basir Malan, Irfah Najihah
title Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan
title_short Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan
title_full Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan
title_fullStr Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan
title_full_unstemmed Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan
title_sort pyramidal ownership structure, dividend policy and value relevance of earnings information in malaysia public listed firms / irfah najihah basir malan
publisher Institute of Graduate Studies, UiTM
publishDate 2018
url http://ir.uitm.edu.my/id/eprint/22053/
http://ir.uitm.edu.my/id/eprint/22053/1/ABS_IRFAH%20NAJIHAH%20BASIR%20MALAN%20TDRA%20VOL%2014%20IGS%2018.pdf
first_indexed 2023-09-18T23:07:49Z
last_indexed 2023-09-18T23:07:49Z
_version_ 1777418601259597824

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