文章基本信息

标题：THE IMPACT OF DIVIDEND POLICY ON THE SHARE PRICE VOLATILITY: Malaysian Construction and Material Companies.
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作者：Zuriawati Zakaria ; Joriah Muhammad ; Abdul Hadi Zulkifli 等
期刊名称：International Journal of Economics & Management Sciences
电子版ISSN：2162-6359
出版年度：2012
卷号：2
期号：5
语种：English
出版社：OMICS International
摘要：This study presents the results on the impact of dividend policy on the share price volatility of the Malaysian listed construction and material companies using the least square regression method after controlling for debt, firm size, investment growth and earnings’ volatility. The study found only 43.43 percent of the changes in the share prices are explained by dividend yield (DY), dividend payout ratio(DPR), and investment growth(Growth), size of the firm )FZ), leverage (Lev) and earnings volatility (EV). These companies recorded 94.41 percent share price volatility during 2005 until 2010. Dividend payout ratio significantly influences the changes in share price. The greater the size of the company, the more significant impacts the volatility of share price would be. Dividend yield, investment growth and earnings volatility insignificantly influence the changes in the company’s share prices. Leverage is negatively influence the movement of the share price.
关键词：price volatility