Ownership Structure and Dividend Policy: Evidence from Malaysian Companies

Nathasa Mazna Ramli,

Abstract

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Ownership Structure and Dividend Policy: Evidence from Malaysian Companies

Nathasa Mazna Ramli

Universiti Sains Islam Malaysia (USIM)

February 20, 2010

International Review of Business Research Papers, Vol. 6, No. 1, pp. 170-180, February 2010

Abstract:
The paper investigates the effect of large shareholders and dividend policy of Malaysian companies using panel data from 2002 to 2006. Ownership structure in Malaysia is concentrated, therefore the relevant agency conflicts to analyse are the one that arises from the relationship between large shareholders and minority shareholders. The result shows that companies make higher dividend payout as the shareholding of the largest shareholder increase. The magnitude of dividend payout is also larger when there is a presence of the substantial second largest shareholder in the company.

Number of Pages in PDF File: 11

Keywords: Dividend Policy, Ownership Structure, Agency Theory, Malaysia

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Date posted: February 2, 2011

Suggested Citation

Nathasa Mazna Ramli, , Ownership Structure and Dividend Policy: Evidence from Malaysian Companies (February 20, 2010). International Review of Business Research Papers, Vol. 6, No. 1, pp. 170-180, February 2010. Available at SSRN: http://ssrn.com/abstract=1753390

Contact Information

Nathasa Mazna Ramli (Contact Author)

Universiti Sains Islam Malaysia (USIM) ( email )

Bandar Baru Nilai
Nilai, Negeri Sembilan 71800
Malaysia
606 7986302 (Fax)