Effect of Dividend Policy on Share Holders Wealth: A Study of Sugar Industry in Pakistan

Mohammad Salman Sarwar
Mohammad Salman Sarwar
University of Gujrat

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Effect of Dividend Policy on Share Holders Wealth: A Study of Sugar Industry in Pakistan

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Abstract

The present paper focuses on the impact of dividend policy on shareholder’s wealth in sugar industries of Pakistan. For this study we have selected the sample of 33 listed companies of sugar industry out of 36 at Karachi Stock Exchange from the food and producers sector. The data is collected for the period of 6 years from the year 2006 to 2011. For this study descriptive statistics and multiple regression analysis is used by taking dividend per share (DPS), earnings per share(EPS), Lagged Market Price Ratio (LMPR), Lagged Price Earnings Ratio (LPER) Price Earnings Ratio (PER) Retained Earnings Ratio (RER) as independent variables and market price per share (MPS) as dependent variable. The R2 shows that 99% variations in MPS are due to the explanatory variables. The p value of the f statistic shows that all the regressors have jointly significant relationship with dependent variable (MPS).

References

16 Cites in Article
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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Mohammad Salman Sarwar. 2013. \u201cEffect of Dividend Policy on Share Holders Wealth: A Study of Sugar Industry in Pakistan\u201d. Global Journal of Management and Business Research - C: Finance GJMBR-C Volume 13 (GJMBR Volume 13 Issue C7).

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Version of record

v1.2

Issue date
July 15, 2013

Language
en
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Effect of Dividend Policy on Share Holders Wealth: A Study of Sugar Industry in Pakistan

Mohammad Salman Sarwar
Mohammad Salman Sarwar <p>University of Gujrat</p>

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