Welcome to the Uniglobe Library
From this page you can:
Home |
Search results
4 result(s) search for keyword(s) 'payouts'
Refine your search Generate the RSS feed of the search Apply to external sources
Determinants of dividend payout of commercial banks in Nepal / Maushmi Vaidhya
Title : Determinants of dividend payout of commercial banks in Nepal Material Type: printed text Authors: Maushmi Vaidhya, Author Publication Date: 2013 Pagination: 117p. Size: GRP/Thesis Accompanying material: 1/B General note: Including bibliography Languages : English Descriptors: Banks
Banks and banking
Capital market
Commercial banks
Dividend policy
Dividends
Maushmi Vaidhya
PayoutsKeywords: 'dividends dividend policy payouts commercial banks banks Nepal management capital market' Class number: 332.632 Abstract: Despite of several empirical evidences, the dividend policy issues are still puzzling and unresolved. Identification of the factors shaping the dividend payouts decisions is crucial for the corporate managers and it is even more crucial in banking sector especially in case of Nepal because most of the investors in the capital market invest in the shares of the banks. So, the empirical relationship between the dividend payouts and its determinants are stated as the research questions followed by the development of the hypotheses. The major objective of this study is to analyze the factors affecting the dividend payout decisions of the commercial bank along with the examination of empirical relationship between them.
The review of literatures has shown relationship between various factors such as net profit, size of the firm, ownership structure, tax structure, lag dividends, cash flows, market to book value ratio, leverage ratio, investment opportunities etc. as and the dividend payouts in case of both developed and emerging countries. In addition, net profit, cash flows, leverage ratio, ownership structure, taxes are some of the variables that are found to have significant association with dividend payouts in various context. Based on the reviews, this study has proposed the conceptual framework identifying net profit, cash flows, market to book ratio, size, debt to equity ratio, number of major shareholders and slack as the most important factors affecting the dividend payout ratio of the commercial banks in Nepal.
For the purpose of study 18 listed commercial banks dividend into two strata is taken as sample and required data such as dividend payout ratios and other independent variables are collected from various secondary sources for period of 8 years i.e. 2005 to 2012. Stratified sampling method is used to select the sample commercial banks. Primary questionnaire survey is also conducted in order to assess the opinions of bank’s manager on dividend issues. Multiple regression analysis and correlation analysis are used to examine the connection between the dividend payout ratios and the determinants of the dividends. Likewise, portfolio sorted on one way sorts of seven independent variables is also employed to see if the relationship shown by regression and correlation analysis really exists.
The results of secondary data analysis shows that net profit, cash flows and size of the banks have strong and significant positive impact on dividend payouts while number of major shareholders significantly affects the dividend payout ratio in negative manner. Likewise, market to book value ratio is negligible in explaining dividends; however, these variables have significant positive impact. In contrast, the study documents that leverage ratio and the slack as insignificant in explaining the variations in dividend payout ratios of commercial banks. In line with the findings of the secondary data, the primary survey reveals net profit and the cash flows as the most important determinants of the dividend payout ratios followed by the number of major shareholders and the size of the banks.
The major limitations of this study lies in the fact that this study has excluded some firm specific and macro economic variables that might have influence on dividends. Despite the limitations, the findings may have significant degree of implications for both investors and the bank’s management. So, both groups of these stakeholders are recommended to take account of the determinants identified by this study and their relationship with dividend payout ratios. There is wide scope for future studies in same topic. Future studies can increases the sample size including different class of financial institutions to make the results applicable for the entire banking industry of Nepal.
Determinants of dividend payout of commercial banks in Nepal [printed text] / Maushmi Vaidhya, Author . - 2013 . - 117p. ; GRP/Thesis + 1/B.
Including bibliography
Languages : English
Descriptors: Banks
Banks and banking
Capital market
Commercial banks
Dividend policy
Dividends
Maushmi Vaidhya
PayoutsKeywords: 'dividends dividend policy payouts commercial banks banks Nepal management capital market' Class number: 332.632 Abstract: Despite of several empirical evidences, the dividend policy issues are still puzzling and unresolved. Identification of the factors shaping the dividend payouts decisions is crucial for the corporate managers and it is even more crucial in banking sector especially in case of Nepal because most of the investors in the capital market invest in the shares of the banks. So, the empirical relationship between the dividend payouts and its determinants are stated as the research questions followed by the development of the hypotheses. The major objective of this study is to analyze the factors affecting the dividend payout decisions of the commercial bank along with the examination of empirical relationship between them.
The review of literatures has shown relationship between various factors such as net profit, size of the firm, ownership structure, tax structure, lag dividends, cash flows, market to book value ratio, leverage ratio, investment opportunities etc. as and the dividend payouts in case of both developed and emerging countries. In addition, net profit, cash flows, leverage ratio, ownership structure, taxes are some of the variables that are found to have significant association with dividend payouts in various context. Based on the reviews, this study has proposed the conceptual framework identifying net profit, cash flows, market to book ratio, size, debt to equity ratio, number of major shareholders and slack as the most important factors affecting the dividend payout ratio of the commercial banks in Nepal.
For the purpose of study 18 listed commercial banks dividend into two strata is taken as sample and required data such as dividend payout ratios and other independent variables are collected from various secondary sources for period of 8 years i.e. 2005 to 2012. Stratified sampling method is used to select the sample commercial banks. Primary questionnaire survey is also conducted in order to assess the opinions of bank’s manager on dividend issues. Multiple regression analysis and correlation analysis are used to examine the connection between the dividend payout ratios and the determinants of the dividends. Likewise, portfolio sorted on one way sorts of seven independent variables is also employed to see if the relationship shown by regression and correlation analysis really exists.
The results of secondary data analysis shows that net profit, cash flows and size of the banks have strong and significant positive impact on dividend payouts while number of major shareholders significantly affects the dividend payout ratio in negative manner. Likewise, market to book value ratio is negligible in explaining dividends; however, these variables have significant positive impact. In contrast, the study documents that leverage ratio and the slack as insignificant in explaining the variations in dividend payout ratios of commercial banks. In line with the findings of the secondary data, the primary survey reveals net profit and the cash flows as the most important determinants of the dividend payout ratios followed by the number of major shareholders and the size of the banks.
The major limitations of this study lies in the fact that this study has excluded some firm specific and macro economic variables that might have influence on dividends. Despite the limitations, the findings may have significant degree of implications for both investors and the bank’s management. So, both groups of these stakeholders are recommended to take account of the determinants identified by this study and their relationship with dividend payout ratios. There is wide scope for future studies in same topic. Future studies can increases the sample size including different class of financial institutions to make the results applicable for the entire banking industry of Nepal.
Hold
Place a hold on this item
Copies
Barcode Call number Media type Location Section Status 3/D 332.632 VAI Thesis/Dissertation Uniglobe Library Social Sciences Not for loan Factors affecting dividend policy of banking and non-banking enterprises: a case of Nepal / Mohan K . Shrestha
Title : Factors affecting dividend policy of banking and non-banking enterprises: a case of Nepal Material Type: printed text Authors: Mohan K . Shrestha, Author Publication Date: 2015 Pagination: 137p. Size: GRP/Thesis Accompanying material: 5/B General note: Including bibilography Languages : English Keywords: 'dividends dividend policy payouts commercial banks dividend per share dividend yield return on assets return on equity' Class number: 332.632 Abstract: Despite of several empirical evidences, the dividend policy issues are still unresolved. Identification of the factors shaping the dividend payouts decision is crucial for the corporate managers and it is even more crucial in banking sectors especially in case of Nepal because most of the investors in the capital market invest in the shares of the banks. So, the empirical relationship between the dividend payouts and its determinants are stated as the research questions followed by the development of the hypotheses. The major objective of this study is to analyze the factors affecting the dividend decisions of the banks and non-banks along with the examination of empirical relationship between them.
The review of literatures has shown relationship between various factors such as earnings per share, profitability, firm’s risk, investment opportunities, leverage, size, liquidity, dividend per share, ownership structure etc. as and the dividend payout in case of both developed and emerging countries. In addition, profitability, earnings per share, firm’s risk, investment opportunities, leverage, size and liquidity are some of the variables that are found to have significant association with dividend payouts in various context. Based on the reviews, this study has proposed the conceptual framework identifying earnings per share, profitability, firm’s risk, investment opportunities, leverage, size and liquidity as the most important factors affecting the dividend decision of banks and non-banks enterprises.
For the purpose of the study 14 banks and 18 listed non-banks divided are taken as sample and required data such as dividend per share, dividend yield and market price per share and the independent variables are collected from official website of concern organization, Nepal Stock Exchange Limited (NEPSE), Security Board of Nepal (SEBON), Nepal Rastra Bank (NRB) and annual reports from respective organizations. This study collected data of sampled organizations atleast for five years to ten years. (i.e. 2003/04 to 2012/13). The data were extracted from balance sheet, income statement, cash flow statement of respective organizations. Earnings per share, price earnings ratio, total assets, leverage, profitability, liquidity and investment opportunities has been used as independent variables and dividend per share is also considered as independent variables of market price per share where as dividend per share, dividend yield and market price per share used as dependent variables. Stratified sampling method is used to select the sample of banks and non bank’s. Descriptive statistics and correlation analysis has been used as method of analysis along with different statistical test of significance for validation of model such as t-test, F-test, direction of autocorrelation and multi-colinearity and stepwise linear regression analysis.
After the data analysis, the result was found that the earnings per share, profitability, size and liquidity effect positively to dividend payout. The presence of other independent variables showed no direction of relationship. Thus, the study concludes that to increase dividend payout, firms need to increase earnings per share, profitability, size and liquidity.
Recommendation discussed includes:
To increase dividend per share of firm, firm need to increase earnings per share, price earnings ratio, profitability, total assets and cash flows.
To increase dividend yield dividend yield of firm, firm need to increase profitability and total assets.
Firm need to decrease investment opportunities to increase dividend yield.
Firm need to increase dividend per share to increase market price per share.
The report also investigates the fact that the analysis conducted has limitations. Finance companies and development banks has not been used in study, only 14 commercial banks and 18 non-banks has been used as sample due to availability of data and the study has assumed the linear relationship between dependent and independent variables.
Factors affecting dividend policy of banking and non-banking enterprises: a case of Nepal [printed text] / Mohan K . Shrestha, Author . - 2015 . - 137p. ; GRP/Thesis + 5/B.
Including bibilography
Languages : English
Keywords: 'dividends dividend policy payouts commercial banks dividend per share dividend yield return on assets return on equity' Class number: 332.632 Abstract: Despite of several empirical evidences, the dividend policy issues are still unresolved. Identification of the factors shaping the dividend payouts decision is crucial for the corporate managers and it is even more crucial in banking sectors especially in case of Nepal because most of the investors in the capital market invest in the shares of the banks. So, the empirical relationship between the dividend payouts and its determinants are stated as the research questions followed by the development of the hypotheses. The major objective of this study is to analyze the factors affecting the dividend decisions of the banks and non-banks along with the examination of empirical relationship between them.
The review of literatures has shown relationship between various factors such as earnings per share, profitability, firm’s risk, investment opportunities, leverage, size, liquidity, dividend per share, ownership structure etc. as and the dividend payout in case of both developed and emerging countries. In addition, profitability, earnings per share, firm’s risk, investment opportunities, leverage, size and liquidity are some of the variables that are found to have significant association with dividend payouts in various context. Based on the reviews, this study has proposed the conceptual framework identifying earnings per share, profitability, firm’s risk, investment opportunities, leverage, size and liquidity as the most important factors affecting the dividend decision of banks and non-banks enterprises.
For the purpose of the study 14 banks and 18 listed non-banks divided are taken as sample and required data such as dividend per share, dividend yield and market price per share and the independent variables are collected from official website of concern organization, Nepal Stock Exchange Limited (NEPSE), Security Board of Nepal (SEBON), Nepal Rastra Bank (NRB) and annual reports from respective organizations. This study collected data of sampled organizations atleast for five years to ten years. (i.e. 2003/04 to 2012/13). The data were extracted from balance sheet, income statement, cash flow statement of respective organizations. Earnings per share, price earnings ratio, total assets, leverage, profitability, liquidity and investment opportunities has been used as independent variables and dividend per share is also considered as independent variables of market price per share where as dividend per share, dividend yield and market price per share used as dependent variables. Stratified sampling method is used to select the sample of banks and non bank’s. Descriptive statistics and correlation analysis has been used as method of analysis along with different statistical test of significance for validation of model such as t-test, F-test, direction of autocorrelation and multi-colinearity and stepwise linear regression analysis.
After the data analysis, the result was found that the earnings per share, profitability, size and liquidity effect positively to dividend payout. The presence of other independent variables showed no direction of relationship. Thus, the study concludes that to increase dividend payout, firms need to increase earnings per share, profitability, size and liquidity.
Recommendation discussed includes:
To increase dividend per share of firm, firm need to increase earnings per share, price earnings ratio, profitability, total assets and cash flows.
To increase dividend yield dividend yield of firm, firm need to increase profitability and total assets.
Firm need to decrease investment opportunities to increase dividend yield.
Firm need to increase dividend per share to increase market price per share.
The report also investigates the fact that the analysis conducted has limitations. Finance companies and development banks has not been used in study, only 14 commercial banks and 18 non-banks has been used as sample due to availability of data and the study has assumed the linear relationship between dependent and independent variables.
Hold
Place a hold on this item
Copies
Barcode Call number Media type Location Section Status 96/D 332.632 SHR Thesis/Dissertation Uniglobe Library Social Sciences Available Determinants of dividend policy of commercial banks in Nepal / Anup Mool
Title : Determinants of dividend policy of commercial banks in Nepal Material Type: printed text Authors: Anup Mool, Author Publication Date: 2015 Pagination: 66p. Size: GRP/Thesis Accompanying material: 5/B General note: Including bibilography Languages : English Descriptors: Banks
Banks and banking
Dividend policy
DividendsKeywords: dividends dividend policy payouts commercial banks banks Nepal management capital market' Class number: 332.632 Determinants of dividend policy of commercial banks in Nepal [printed text] / Anup Mool, Author . - 2015 . - 66p. ; GRP/Thesis + 5/B.
Including bibilography
Languages : English
Descriptors: Banks
Banks and banking
Dividend policy
DividendsKeywords: dividends dividend policy payouts commercial banks banks Nepal management capital market' Class number: 332.632 Hold
Place a hold on this item
Copies
Barcode Call number Media type Location Section Status 133/D 332.632 MOO Thesis/Dissertation Uniglobe Library Social Sciences Available The effect of taxation of dividend Policy: a case of Nepalese commercial banks / Subash Neupane
Title : The effect of taxation of dividend Policy: a case of Nepalese commercial banks Material Type: printed text Authors: Subash Neupane, Author Publication Date: 2015 Pagination: 96p. Size: GRP/Thesis Accompanying material: 5/B General note: Including bibilography Languages : English Descriptors: Banks
Banks and banking
Dividend policy
DividendsKeywords: 'dividends dividend policy payouts commercial banks banks Nepal management capital market' Class number: 332.632 The effect of taxation of dividend Policy: a case of Nepalese commercial banks [printed text] / Subash Neupane, Author . - 2015 . - 96p. ; GRP/Thesis + 5/B.
Including bibilography
Languages : English
Descriptors: Banks
Banks and banking
Dividend policy
DividendsKeywords: 'dividends dividend policy payouts commercial banks banks Nepal management capital market' Class number: 332.632 Hold
Place a hold on this item
Copies
Barcode Call number Media type Location Section Status 98/D 332.632 NEU Thesis/Dissertation Uniglobe Library Social Sciences Available