The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)

This study examines the determinants of share prices performance of all listed insurance companies in Pakistan Stock Exchange (PSX) from year 2009 to 2016. The insurance companies generate indispensable contributions towards an economic system. However, in the case of insurance companies in the PSX,...

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Main Author:	Khan, Ali Burhan
Format:	Thesis
Language:	eng eng eng
Published:	2020
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/10295/1/permission%20to%20use-NOT%20ALLOWED.pdf https://etd.uum.edu.my/10295/2/s900856_01.pdf https://etd.uum.edu.my/10295/3/references.docx
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id	my-uum-etd.10295
record_format	uketd_dc
spelling	my-uum-etd.102952023-02-09T02:08:42Z The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx) 2020 Khan, Ali Burhan Zainuddin, Zaemah Md. Jadi, Diara School of Economics, Finance & Banking School of Economics, Finance and Banking HG Finance This study examines the determinants of share prices performance of all listed insurance companies in Pakistan Stock Exchange (PSX) from year 2009 to 2016. The insurance companies generate indispensable contributions towards an economic system. However, in the case of insurance companies in the PSX, the insurers have been experiencing a decline in their share prices performance. Subsequently, a significant number of insurance companies are delisted from PSX. Therefore, this study aimed to identify the macroeconomic factors (inflation, interest rate, money supply, exchange rate and market return) and firm-specific factors (leverage, liquidity, firm size, profitability, firm age, market share, dividend payout behaviour and firm efficiency) that affect the share prices performance of insurance companies of PSX. This study also contributes to the existing literature by analyzing the moderating impact of firm efficiency on the relationship between firm-specific variables and insurance companies’ share prices. The empirical analysis encompasses 22 listed insurance companies in PSX from 2009 to 2016 via multiple regression analyses. The results highlight that market return is the only significant macro-economic variable that affects share prices performance. Meanwhile, the analysis also identifies leverage, firm size, profitability, firm age, market share and firm efficiency as the significant firm-specific variables to influence share prices performance. Firm efficiency is a crucial success factor in any organizations. Thus, the management of insurance companies should ensure efficiency in their operations to improve share prices performance. Based on the results, firm efficiency is indeed a significant variable that can moderates the relationship between insurance companies’ size and their share prices. In a nutshell, the findings from this study implied that overall share prices performance of insurance companies in PSX is mostly-affected by firm-specific factors instead of macroeconomic ones. 2020 Thesis https://etd.uum.edu.my/10295/ https://etd.uum.edu.my/10295/1/permission%20to%20use-NOT%20ALLOWED.pdf text eng staffonly https://etd.uum.edu.my/10295/2/s900856_01.pdf text eng staffonly https://etd.uum.edu.my/10295/3/references.docx text eng staffonly phd doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng eng
advisor	Zainuddin, Zaemah Md. Jadi, Diara
topic	HG Finance
spellingShingle	HG Finance Khan, Ali Burhan The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)
description	This study examines the determinants of share prices performance of all listed insurance companies in Pakistan Stock Exchange (PSX) from year 2009 to 2016. The insurance companies generate indispensable contributions towards an economic system. However, in the case of insurance companies in the PSX, the insurers have been experiencing a decline in their share prices performance. Subsequently, a significant number of insurance companies are delisted from PSX. Therefore, this study aimed to identify the macroeconomic factors (inflation, interest rate, money supply, exchange rate and market return) and firm-specific factors (leverage, liquidity, firm size, profitability, firm age, market share, dividend payout behaviour and firm efficiency) that affect the share prices performance of insurance companies of PSX. This study also contributes to the existing literature by analyzing the moderating impact of firm efficiency on the relationship between firm-specific variables and insurance companies’ share prices. The empirical analysis encompasses 22 listed insurance companies in PSX from 2009 to 2016 via multiple regression analyses. The results highlight that market return is the only significant macro-economic variable that affects share prices performance. Meanwhile, the analysis also identifies leverage, firm size, profitability, firm age, market share and firm efficiency as the significant firm-specific variables to influence share prices performance. Firm efficiency is a crucial success factor in any organizations. Thus, the management of insurance companies should ensure efficiency in their operations to improve share prices performance. Based on the results, firm efficiency is indeed a significant variable that can moderates the relationship between insurance companies’ size and their share prices. In a nutshell, the findings from this study implied that overall share prices performance of insurance companies in PSX is mostly-affected by firm-specific factors instead of macroeconomic ones.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Khan, Ali Burhan
author_facet	Khan, Ali Burhan
author_sort	Khan, Ali Burhan
title	The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)
title_short	The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)
title_full	The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)
title_fullStr	The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)
title_full_unstemmed	The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)
title_sort	determinants of share prices performance of insurance companies listed in the pakistan stock exchange (psx)
granting_institution	Universiti Utara Malaysia
granting_department	School of Economics, Finance & Banking
publishDate	2020
url	https://etd.uum.edu.my/10295/1/permission%20to%20use-NOT%20ALLOWED.pdf https://etd.uum.edu.my/10295/2/s900856_01.pdf https://etd.uum.edu.my/10295/3/references.docx
_version_	1776103784291762176

The determinants of share prices performance of insurance companies listed in the Pakistan stock exchange (psx)

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