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dc.contributor.authorAbdelsalam, O
dc.contributor.authorEl‐Masry, A
dc.contributor.authorElsegini, S
dc.contributor.editorEl‐Masry A
dc.date.accessioned2017-02-06T20:20:50Z
dc.date.available2017-02-06T20:20:50Z
dc.date.issued2008-10-17
dc.identifier.issn0307-4358
dc.identifier.urihttp://hdl.handle.net/10026.1/8369
dc.description.abstract

<jats:sec><jats:title content-type="abstract-heading">Purpose</jats:title><jats:p>The purpose of this study is to examine dividend policies in an emerging capital market, in a country undergoing a transitional period.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Design/methodology/approach</jats:title><jats:p>Using pooled cross‐sectional observations from the top 50 listed Egyptian firms between 2003 and 2005, this study examines the effect of board of directors' composition and ownership structure on dividend policies in Egypt.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Findings</jats:title><jats:p>It is found that there is a significant positive association between institutional ownership and firm performance, and both dividend decision and payout ratio. The results confirm that firms with a higher return on equity and a higher institutional ownership distribute higher levels of dividend. No significant association was found between board composition and dividend decisions or ratios.</jats:p></jats:sec><jats:sec><jats:title content-type="abstract-heading">Originality/value</jats:title><jats:p>This study provides additional evidence of the applicability of the signalling model in the emerging market of Egypt. It was found that despite the high institutional ownership and the closely held nature of the firms, which imply lower agency costs, the payment of higher dividend was considered necessary to attract capital during this transitional period.</jats:p></jats:sec>

dc.format.extent953-964
dc.languageen
dc.language.isoen
dc.publisherEmerald
dc.titleBoard composition, ownership structure and dividend policies in an emerging market
dc.typejournal-article
plymouth.issue12
plymouth.volume34
plymouth.publisher-urlhttp://dx.doi.org/10.1108/03074350810915879
plymouth.publication-statusPublished
plymouth.journalManagerial Finance
dc.identifier.doi10.1108/03074350810915879
plymouth.organisational-group/Plymouth
plymouth.organisational-group/Plymouth/REF 2021 Researchers by UoA
plymouth.organisational-group/Plymouth/REF 2021 Researchers by UoA/UoA17 Business and Management Studies
dc.rights.embargoperiodNot known
rioxxterms.versionofrecord10.1108/03074350810915879
rioxxterms.licenseref.urihttp://www.rioxx.net/licenses/all-rights-reserved
rioxxterms.typeJournal Article/Review


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