Do Emerging Market Firms Follow Different Dividend Policies? Empirical Investigation on the Pre and Post Reform Dividend Policy and Behaviour of Dhaka Stock Exchange Listed Firms

Studies in Economics and Finance, Vol. 28(2), pp. 118-135.

25 Pages Posted: 31 Aug 2009 Last revised: 14 Jun 2014

See all articles by Sabur Mollah

Sabur Mollah

Sheffield University Management School, University of Sheffield; Swansea Management School, Swansea University; Hull University Business School; Hull University Business School

Date Written: August 26, 2009

Abstract

This study investigates the behaviour of pay-out policy of Dhaka Stock Exchange (DSE) listed firms preceding and following financial crisis to see whether dividend policy appears as significant measure to protect the general shareholders’ interest after the crisis in 1998. OLS models are tested on DSE data preceding (1988-1997) and following financial crisis (1999-2003), on which no other study has been conducted yet. The empirical results fail to trace noticeable improvements in pay-out policy after the market crisis and dividend policy does not appear as a significant measure to protect the shareholders’ interest in the emerging market of Bangladesh.

Keywords: Pay-out Policy, Emerging Markets

JEL Classification: G12, G14, G35

Suggested Citation

Mollah, Sabur, Do Emerging Market Firms Follow Different Dividend Policies? Empirical Investigation on the Pre and Post Reform Dividend Policy and Behaviour of Dhaka Stock Exchange Listed Firms (August 26, 2009). Studies in Economics and Finance, Vol. 28(2), pp. 118-135.. Available at SSRN: https://ssrn.com/abstract=1462099 or http://dx.doi.org/10.2139/ssrn.1462099

Sabur Mollah (Contact Author)

Sheffield University Management School, University of Sheffield ( email )

Conduit Road
Sheffield, Sheffield S10 1FL
United Kingdom

Swansea Management School, Swansea University ( email )

Singleton Park
Swansea, Wales SA2 8PP
United Kingdom

Hull University Business School ( email )

Cottingham Road
Hull, Great Britain HU6 7RX
United Kingdom

Hull University Business School ( email )

Cottingham Road
Hull, Hull HU6 7RX
United Kingdom

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