The dividends are the compensation, strewed earnings or the capital stock paid out to the shareholders for risk bearing on the investment. The managers are confronted with the challenge in earning’s management when arriving at the investment and the dividend decisions. Normally, the investment decision is preferred to the dividend one. Due to the wobbly corporate governance and the weak legal system, the growth is not being transformed properly to the investors. As a result the funds are exploited by the management for its own ends. It is an effort to put some light on the dividend paying behavior of the companies in the developing countries particularly in Pakistan.
The objective of research is to delve into the dividend policy in the FMCG sector of Pakistan. In the research an effort is made to find out whether certain variables (Liquidity, Firm Size & Growth) show similar impact in the Pakistani FMCG industry or they show different behavior in Pakistan. Pakistan is emerging as an international retailer and retail market is becoming attractive for new investors. USC (Utility Stores Corporation), Metro cash & carry and Carrefour are planning to open more and more stores in different areas of Pakistan, so it is clear that FMCG sector of Pakistan is worth studying.
Dividends policy and firm's behavior on dividend payments has been a significant area of research in the field of financial economics. Firms have the option either to retain their earnings or distribute them to stockholders in the form of dividends. But retention is comparatively advantageous in that firms can reinvest their earnings in profitable projects. The question arises, as to why firms pay dividends then? This book is an endeavor to find an answer to this question together with assessing the impact of financial reforms of 1990's on the dividend payout behavior of the publicly listed firms of Karachi Stock Exchange of Pakistan.
Secure investment with maximum returns is the major concern for an investor at the time of crises situation present in any economy. Investors in such situation tend to invest in the sectors of different economies in various jurisdictions, where they expect more rewards with safe investment environment. For this decision detail examination of major determines of dividends serve as a major tool. This book is covering the corporate sector of Pakistan for this sake. Pakistan is enjoying an important geographic and strategic position with the capacity of future economic growth. This book is a useful source for different institutions, researchers, investors, students and professionals in the filed of finance and economics. Four sectors (4) and Twenty Five (25) listed corporations of Karachi Stock Exchange (KSE) have been included in this whole study to investigate the relationship of Net and Deferred Taxation, Net and Gross Earnings, Internal Shareholding, Small and Large Shareholdings and Previous Year Dividend to determine the pattern and behavior of dividend payout in the corporate sector of Pakistan.
Dividend policy is one of the most complex aspects in finance. Why shareholders like dividends and reward managers paying regular growing dividends is still unanswered. The finance manager''s goal is to frame a dividend policy to augment the firm''s value. The latter has implications for investors, managers, lenders and stakeholders, expressly the claimholders. This book is an attempt to study the dividend payout patterns, trends, and determinants in rising markets by focusing solely on IT, FMCG and Services sector. It explores the rationale for stable dividend payments by empirically testing the validity of Lintner Model in Indian context. It reviews and identifies the relative value of known determinants and discerns the influence of ownership groups on dividend payout behavior and tries to unfold the liaison amid shareholders'' wealth and dividend payout. The contents aid to policy makers and Finance managers to reframe an apt dividend policy by assisting them to study the effects of varied market frictions on firms and claimholders. The readers will get a firm knowledge about factors constantly affecting firms'' payout decisions and ownership structure beneficial to shareholders.
Curriculum plays a vital role in behavior development of students. The study highlights the content analysis regarding behavior development at primary school level in Pakistan. Urdu, Islamic Studies and Social Studies were analyzed regarding the concept of morality, peace, sympathy, loyalty, brotherhood and truth.The study reflects the perceptions of teachers teaching to 5th class regarding the role of curriculum in behavior development at primary school level in Pakistan.
Challenging behavior in students is a world wide problem.Challenging behavior is a vexed issue in rural areas of Pakistan.There are so many causes behind challenging behavior in students.Poverty and illiteracy of parents are one of the fundamental causes of challenging behavior in the world. The book focuses on the nature and causes of challenging behavior in secondary school students in Pakistan. The book reflects the management strategies to overcome the challenging behavior.The work will be significant for the academicians,researchers,psychologists and parents.
Assets trading for prices that are considerably at variance from fundamental values are a well known phenomenon, commonly referred to as bubbles such as the dot-com bubble that occurred at the turn of the millennium. Since real-life stock markets are too complex to understand the forces behind the price building mechanisms, experimental markets can offer interesting insights into what leads to the occurrence of bubbles. Already the first tests have shown that the theory of an asset trading for its expected future cash flow does not hold even under the most simple circumstances. Several replications and adaptations showed the resistance to institutional changes when it comes to pricing assets correctly. The main part of this book is concerned with structuring the growing field of literature in this area. In the last section simple and commonly available information is used and rearranged to come up with fresh conjectures about the price building forces in those markets. Especially, two new indicators that could help explain the formation of prices are suggested.
Parents have a significant role in behavior development of students.The book reflects the perceptions of parents towards behavior development at secondary school level in urban and rural areas of Punjab province of Pakistan.The study highlights the factors promoting behavior development in secondary school students in Pakistan.The study is significant for parents, secondary school teachers and behaviorists.
Household savings is the key determinant of economic development by inducing domestic savings and ultimately investment. It also leads to high employment, industrial growth, improvement in quality of products; stabilize prices and higher GDP growth rate. The present study is an attempt to examine various factors influencing saving behavior among lower, middle and higher income groups; and Rural and Urban regions. In this study, primary source of data is collected through random sampling technique. Ordinary Least square method is employed and econometric problems are also removed from the estimated models (i.e. Heteroskedasticity, Multicollinearity etc.). This study will really help the graduate students that how to conduct research at primary level, how to solve various problems of survey, how to organize and arrange the results using econometric methods. Moreover, the study shows that how to elaborate survey results at preliminary level using percentages and graphs.
Challenging behavior in students is a worldwide burning issue. parents have a significant role in behavior development of students.The study reflects the perceptions of parents towards challenging behavior in secondary school students. The study highlights the factors promoting challenging behavior in secondary school students in Punjab province of Pakistan.The study is important for the secondary school teacher training programs and behaviorists.
The main objectives of this book are to empirically analyze the impact of leader’s change-promoting behavior on employee’s readiness for change and whether this relationship is mediated by organizational culture in the context of a developing country such as Pakistan. A sample of 205 responses is drawn from managers based in Karachi. With the help of advanced multivariate statistical techniques, the results indicate that leader’s change-promoting behavior has a significant positive impact on change readiness and this relationship is partially mediated by organizational culture in Karachi. The findings may be generalized on a larger population in Pakistan. The study supports the theory of one of the six conceptual formations of change readiness which refers it to as an employee’s capacity to change. Therefore, managers should clearly advocate the desired change with the help of their own change-prompting behavior as well as establishing a trusting culture in their organization. Both limitations and areas for future research in the context of Pakistan are also discussed.
A unique guide that combines the best of traditional value theory with an innovative approach to assessing value in low or non-dividend paying stocks In the 1990s, America's focus on productivity and innovation led to huge gains in technology, communication, and healthcare stocks, and contributed to the transformation of the U.S. stock market from a value (dividend-paying orientation) to a growth (nondividend-paying) bias. During this time, forward thinking value managers began to develop analytical tools for valuing nondividend paying stocks. These tools allowed them to evaluate and identify the best investments in both traditional and nontraditional value sectors. At the forefront of this movement was author Nancy Tengler who, along with Noel DeDora, developed «Relative Value Discipline,» an approach-which combines two proven methods for valuing growth stocks: Relative Dividend Yield and Relative-to-Price Sales. The combination of these approaches allows individuals to invest across the investment universe regardless of dividend policies. New Era Value Investing introduces the proven method known as Relative Value Discipline by combining the excitement of developing a new investment discipline with the lessons learned through the application of this new methodology in the real world. In addition to providing an insider's look at an investment manager's experience in adopting a new investment approach, this book creates a context for understanding the transformation of the U.S. economy, and offers expert insights beyond those of traditional value theory. Nancy Tengler (San Francisco, CA) is President and Chief Investment Officer of Fremont Investment Advisors. She is coauthor of Relative Dividend Yield: Common Stock Investing for Income and Appreciation (Wiley: 0-471-53652-0). She has appeared on numerous financial radio and television programs, including CNN/fn and is frequently quoted in financial publications such as The Wall Street Journal.
Everyone needs to invest, but where do you invest during bear markets? The massive stock declines over the past year have eroded savings, but this doesn't mean you should stuff your money under a mattress. It needs to be put to work getting some return so that it will grow. Smart investors will turn to high dividend paying stocks to get a stable and growing stream of income. Dividend investing-that provides an income beyond any gain in the share price-may be the investor's best weapon. Dividends are safe, largely reliable, and maybe at the their cheapest levels in many years. While the best paying dividend stocks of recent years, such as financials, took a huge beating in 2008, opportunities will abound in 2010 and beyond-if you know where to look. In The Little Book of Big Dividends, dividend stock expert Chuck Carlson presents an action plan for dividend-hungry investors. You'll learn about the pitfalls, how to find the opportunities, and will learn how to construct a portfolio that generates big, safe dividends easily through the BSD (Big, Safe Dividends) formula. If you're a bit adventurous, Carlson has you covered, and will teach you how to find big, safe dividends in foreign stocks, preferred stocks, ETFs, real estate investment trusts, and more. Contains the simple tools, strategies, and recommendations for finding big, safe dividends Helps you put a complete portfolio together that pays dividends every month Show you the top dividend paying stocks with their dividend payment dates It doesn't get any easier than this, and in these turbulent times, you can't afford to ignore the power of dividends. Read The Little Book of Big Dividends and gain a better perspective of how you can protect yourself for the future.
The study under reader’s view is an effort to reveal the inside dynamics for determination of Dividend Payout with reference to Non Financial Firms listed in the KSE100 Index. In light of prior literature, key explanatory variables were identified as Earnings, Firm Size, Growth, Profitability, Corporate Tax & Financial Leverage. Through observation, 53 such companies were identified from the listed non financial firms in the Karachi Stock Exchange that have been paying out dividend consistently for the past 6 years (2005-2010), hence encompassing one complete business cycle. These 53 companies represent 11 sectors. Multivariate Regression Analysis was identified as the most appropriate tool for econometric analysis of the data. Data was tested to fulfill the conditions of OLS. Regression Results revealed that Corporate Tax and Firm’s Size had significant relationship with Dividend Payout. Rest of the four explanatory variables were found to be insignificant in context of Pakistani market. This paper is a must read for Capital Market Students & Investors.