Different levels of family ownership and dividend payout in the presence of growth opportunities

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dc.contributor.authorTing, Irene Wei Kiong
dc.contributor.authorKweh, Qian Long
dc.contributor.authorAhmad, Norazlin
dc.contributor.authorParamanantham, Neshaleni S.
dc.date.accessioned2022-02-16T15:41:27Z
dc.date.available2022-02-16T15:41:27Z
dc.date.copyright© 2021
dc.date.issued2021
dc.descriptionThis article is not available at CUD collection. The version of scholarly record of this article is published in Afro-Asian Journal of Finance and Accounting (2021), available online at: https://doi.org/10.1504/AAJFA.2021.120445en_US
dc.description.abstractThis study examines the family ownership, growth opportunities, and dividend payout of a sample consisting of 200 of the largest publicly listed companies in Malaysia from 2011-2016. Three main results emerge after controlling for firm and board characteristics as well as industry and year effects in various robustness checks. First, despite their positive impacts on dividend payout, family firms exhibit a lower dividend payout relative to net income. Second, growth opportunities increase the positive impacts of family ownership on dividend payout. A positive association between growth opportunities and dividend payout is also found. Third, the moderating effect of growth opportunities on the relationship between family ownership and dividend payout is present only in firms with family shareholdings, particularly those with high and medium ownership. These findings indicate varying dividend payout in the presence of growth opportunities for the different levels of family ownership. Copyright © 2021 Inderscience Enterprises Ltd.en_US
dc.identifier.citationTing, I. W. K., Kweh, Q. L., Ahmad, N., & Paramanantham, N. S. (2021). Different levels of family ownership and dividend payout in the presence of growth opportunities. Afro-Asian Journal of Finance and Accounting, 11(6), 787-807. https://doi.org/10.1504/AAJFA.2021.120445en_US
dc.identifier.issn17516447
dc.identifier.urihttps://doi.org/10.1504/AAJFA.2021.120445
dc.identifier.urihttp://hdl.handle.net/20.500.12519/515
dc.language.isoenen_US
dc.publisherInderscience Publishersen_US
dc.relationAuthors Affiliations : Ting, I.W.K., Benchmarking Research Group, Faculty of Accounting, Ton Duc Thang University, Ho Chi Minh City, Viet Nam; Kweh, Q.L., Faculty of Management, Canadian University Dubai, P.O. Box 117781, 1st Interchange, Sheikh Zayed Road, Dubai, United Arab Emirates; Ahmad, N., Faculty of Industrial Management, Universiti Malaysia Pahang, Gambang, Pahang26300, Malaysia; Paramanantham, N.S., Faculty of Industrial Management, Universiti Malaysia Pahang, Gambang, Pahang26300, Malaysia
dc.relation.ispartofseriesAfro-Asian Journal of Finance and Accounting;Volume 11, Issue 6
dc.rightsPermission to reuse abstract has been secured from Inderscience Publishers
dc.rights.holderCopyright : © 2021 Inderscience Enterprises Ltd.
dc.subjectDividend payouten_US
dc.subjectFamily ownershipen_US
dc.subjectGrowth opportunitiesen_US
dc.subjectModerating effecten_US
dc.titleDifferent levels of family ownership and dividend payout in the presence of growth opportunitiesen_US
dc.typeArticleen_US

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