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Ownership Concentration, Dividend Payout and Firm Performance: The Case of Malaysia

Irene, Wei Kiong Ting and Kweh, Qian Long and Kausalyaa, Somosundaram (2017) Ownership Concentration, Dividend Payout and Firm Performance: The Case of Malaysia. Malaysian Journal of Economic Studies, 54 (2). pp. 269-280. ISSN 1511-4554

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Abstract

This study examines how ownership concentration affects dividend payout, and ultimately firm performance. Regression analyses are performed on a dataset spanning 11 years (2005-2015) among Malaysian publicly listed firms. The results show that shareholders with concentrated ownership play an important role in determining dividend payout and driving firm performance. Specifically, ownership concentration is associated with low dividend payout, but it improves firm performance. Overall, this study suggests that ownership concentration may also be an effective monitoring mechanism.

Item Type: Article
Uncontrolled Keywords: Agency theory, dividend payout, firm performance, ownership concentration JEL classification: G32, L25
Subjects: H Social Sciences > HD Industries. Land use. Labor
Faculty/Division: Faculty of Industrial Management
Depositing User: Noorul Farina Arifin
Date Deposited: 27 Dec 2017 07:07
Last Modified: 10 Apr 2018 03:24
URI: http://umpir.ump.edu.my/id/eprint/19706
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