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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Main Author: Basir Malan, Irfah Najihah
Format: Thesis
Language:English
Published: 2018
Subjects:
Online Access:https://ir.uitm.edu.my/id/eprint/96068/1/96068.pdf
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spelling my-uitm-ir.960682024-05-29T07:51:25Z Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan 2018 Basir Malan, Irfah Najihah Business 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. 2018 Thesis https://ir.uitm.edu.my/id/eprint/96068/ https://ir.uitm.edu.my/id/eprint/96068/1/96068.pdf text en public phd doctoral Universiti Teknologi MARA (UiTM) Faculty of Business and Management Salamudin, Norhana
institution Universiti Teknologi MARA
collection UiTM Institutional Repository
language English
advisor Salamudin, Norhana
topic Business
Malaysia
spellingShingle Business
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.
format Thesis
qualification_name Doctor of Philosophy (PhD.)
qualification_level Doctorate
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
granting_institution Universiti Teknologi MARA (UiTM)
granting_department Faculty of Business and Management
publishDate 2018
url https://ir.uitm.edu.my/id/eprint/96068/1/96068.pdf
_version_ 1804889979270201344