Corporate governance and cash flow as determinants of dividend payout

This study investigates the relationship between corporate governance characteristics and operating cash flow, including control variables (leverage and firm size) with dividend payout on the 100 largest companies listed on Bursa Malaysia’s main board. It examines the roles of board size, CEO duali...

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Main Author:	Nor Hasmadila, Mukhtar
Format:	Thesis
Language:	eng eng
Published:	2014
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/4172/1/s812389.pdf https://etd.uum.edu.my/4172/2/s812389_abstract.pdf
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id	my-uum-etd.4172
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Ahmad, Norafifah
topic	HG Finance
spellingShingle	HG Finance Nor Hasmadila, Mukhtar Corporate governance and cash flow as determinants of dividend payout
description	This study investigates the relationship between corporate governance characteristics and operating cash flow, including control variables (leverage and firm size) with dividend payout on the 100 largest companies listed on Bursa Malaysia’s main board. It examines the roles of board size, CEO duality, individual ownership, managerial ownership, operating cash flow, leverage and firm size in influencing dividend payout performance. In general, the study contributed to the literature on dividend payout theory in Malaysia and supported the existing literature. Hence, the study used data of the 100 largest companies from all sectors are available in Bursa Malaysia but excluded financial sector companies and missing data. Furthermore, this study covered the data in the year 2012 within Bursa Malaysia. This study finds a positive relationship between board size, managerial ownership and operating cash flows. Managerial ownership and operating cash flows are significant, means it is strongly influenced dividend payout. Meanwhile, CEO duality, individual ownership and control variables (leverage and firm size) have a negative relationship with a dividend payout. These findings are consistent with previous studies by (Hafza & Mirza 2010; Zabihi & Ghaleb 2013).
format	Thesis
qualification_name	masters
qualification_level	Master's degree
author	Nor Hasmadila, Mukhtar
author_facet	Nor Hasmadila, Mukhtar
author_sort	Nor Hasmadila, Mukhtar
title	Corporate governance and cash flow as determinants of dividend payout
title_short	Corporate governance and cash flow as determinants of dividend payout
title_full	Corporate governance and cash flow as determinants of dividend payout
title_fullStr	Corporate governance and cash flow as determinants of dividend payout
title_full_unstemmed	Corporate governance and cash flow as determinants of dividend payout
title_sort	corporate governance and cash flow as determinants of dividend payout
granting_institution	Universiti Utara Malaysia
granting_department	Othman Yeop Abdullah Graduate School of Business
publishDate	2014
url	https://etd.uum.edu.my/4172/1/s812389.pdf https://etd.uum.edu.my/4172/2/s812389_abstract.pdf
_version_	1747827692995084288
spelling	my-uum-etd.41722022-08-03T03:31:12Z Corporate governance and cash flow as determinants of dividend payout 2014-07 Nor Hasmadila, Mukhtar Ahmad, Norafifah Othman Yeop Abdullah Graduate School of Business Othman Yeop Abdullah Graduates School of Business HG Finance This study investigates the relationship between corporate governance characteristics and operating cash flow, including control variables (leverage and firm size) with dividend payout on the 100 largest companies listed on Bursa Malaysia’s main board. It examines the roles of board size, CEO duality, individual ownership, managerial ownership, operating cash flow, leverage and firm size in influencing dividend payout performance. In general, the study contributed to the literature on dividend payout theory in Malaysia and supported the existing literature. Hence, the study used data of the 100 largest companies from all sectors are available in Bursa Malaysia but excluded financial sector companies and missing data. Furthermore, this study covered the data in the year 2012 within Bursa Malaysia. This study finds a positive relationship between board size, managerial ownership and operating cash flows. Managerial ownership and operating cash flows are significant, means it is strongly influenced dividend payout. Meanwhile, CEO duality, individual ownership and control variables (leverage and firm size) have a negative relationship with a dividend payout. These findings are consistent with previous studies by (Hafza & Mirza 2010; Zabihi & Ghaleb 2013). 2014-07 Thesis https://etd.uum.edu.my/4172/ https://etd.uum.edu.my/4172/1/s812389.pdf text eng public https://etd.uum.edu.my/4172/2/s812389_abstract.pdf text eng public masters masters Universiti Utara Malaysia Abdelsalam, O., El-Masry, A., & Elsegini, S. (2008). Board composition, ownership structure and dividend policies in an emerging market. Managerial Finance, 34(12), 953-964. Abor, J., & Fiador, V. (2013). 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Corporate governance and cash flow as determinants of dividend payout

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