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Full-Text Articles in Corporate Finance
Gender, Behavioral Finance And The Investment Decision, Bimal Jaiswal, Naela Kamil
Gender, Behavioral Finance And The Investment Decision, Bimal Jaiswal, Naela Kamil
Business Review
As per classical economic theory, humans are completely rational decision makers who carefully evaluate all facts and evidences before taking decisions that aim at maximizing outcomes. However it has been found that in real life humans are not totally rational, rather they are influenced by various behavioural factors while making decisions. Behavioural Finance has thus emerged as an emerging field that studies the influence of psychology on financial decisions. However, it still remains to be investigated whether the impact of behavioural factors is homogenous on all individuals or whether the demographic and psychographic characteristics of the individuals in any way …
Financial Reforms And Corporate Finance In Emerging Markets: An Analysis Of Dividend Policy Among Public Listed Firms In Pakistan, Mohammed Nishat, Wali Ullah
Financial Reforms And Corporate Finance In Emerging Markets: An Analysis Of Dividend Policy Among Public Listed Firms In Pakistan, Mohammed Nishat, Wali Ullah
Business Review
This paper analyzes the dividend behavior of 535 Pakistani listed companies during 1988 to 2005 using the Probit regression model. The findings validate the theoretical prediction for positive and significant impact of last year dividend on the current year dividend decision. More profitable and liquid firms have a higher probability to declare the dividends. Furthermore, firm size, ownership, equity and tax are positively related to the dividend declaration decision. The firms' dividend behavior differs significantly across Industries. The secondary market development has a significant effect on dividend decision and financial liberalization has been associated with shift of firms from debt …