The Impact of Ownership Structure on Dividend Policy of Listed Companies in Srilanka: With Special Reference to the Banks Finance and Insurance Sector

Sinthuja Sinnarajah

The Impact of Ownership Structure on Dividend Policy of Listed Companies in Srilanka: With Special Reference to the Banks Finance and Insurance Sector

Sinthuja Sinnarajah *

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The Impact of Ownership Structure on Dividend Policy of Listed Companies in Srilanka: With Special Reference to the Banks Finance and Insurance Sector

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Abstract

This paper aims at providing the reader with a comprehensive understanding of the relationship between the ownership structure and dividend policy. For the purpose of this research, sample consists of a panel of 30 Bank Finance and Insurance companies listed in Colombo stock exchange and period of 5 years, from 2011 to 2015. To analyze the impact of the different ownership structure on dividend payout policies of Sri Lankan listed companies, a multiple regression model is performed. The regression results indicate that only two hypotheses are supported, while two hypotheses are accepted. The research’s findings indicate a significant negative relationship between the institutional ownership and dividend per share and significant positive relationship between foreign ownership and the dividend per share, while insignificant positive relationship between the concentrated ownership and dividend per share Control variable ROE, Firm size, and FGO indicate an insignificant association with DPS.

References

18 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

Sinthuja Sinnarajah. 2020. "The Impact of Ownership Structure on Dividend Policy of Listed Companies in Srilanka: With Special Reference to the Banks Finance and Insurance Sector". Global Journal of Management and Business Research, Global Journal of Management and Business Research - F: Real estate, Event, Tourism Management & Transporting GJMBR-F Volume 20 (GJMBR Volume 20 Issue F3).

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GJMBR Volume 20 Issue F3

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-F Classification JEL Code: L85

Submission ReceivedDecember 13, 2019
Peer Review Double Blind
Handling Editor
Accepted January 3, 2020
Published January 15, 2020

Version of record

v1.2

Issue date

December 12, 2020

Language

English

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