Determinants of Dividend Pay-Out Policy of Listed Non-financial Firms in Malaysia

Hussain Tahir, Ridzuan Masri, Mahfuzur Rahman


This research paper scrutinizes to recognize the determinants of dividend pay-out. A total of 203 Malaysian non-financial firms representing from various industries were scrutinized over a period of fourteen financial years covering 2005 to 2018. The panel data form specified the time series and cross-sectional nature used for this research paper. Fixed effect and random effects description techniques were used for investigation. The outcomes reveal a statistically significant and positive association between corporate board size, ROA and dividend pay-out. However, financial leverage has a negative and significant relationship with dividend policies. But the study reveals a statistically insignificant and positive relationship between board diversity and dividend pay-out. This paper suggestions insight to policy-makers of emerging economies interested in the development of the financial structure mechanism. This study guides companies in the structure and employment of dividend pay-out.

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This work is licensed under a Creative Commons Attribution 4.0 International License.

This journal is licensed under a Creative Commons Attribution 4.0 License.

International Journal of Financial Research
ISSN 1923-4023(Print)ISSN 1923-4031(Online)


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