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:	Business Malaysia
Online Access:	https://ir.uitm.edu.my/id/eprint/96068/1/96068.pdf
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id	my-uitm-ir.96068
record_format	uketd_dc
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

Pyramidal ownership structure, dividend policy and value relevance of earnings information in Malaysia public listed firms / Irfah Najihah Basir Malan

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