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Dividend policy: the case of Shariah-compliant firms

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dc.contributor.authorZaheer Anwer
dc.contributor.authorMohamed Eskandar Shah Mohd Rasid
dc.contributor.authorM. Kabir Hassan
dc.contributor.authorAndrea Paltrinieri
dc.contributor.authorShamsher Mohamad Ramadili Mohd
dc.date.accessioned2020-05-12T14:46:09Z
dc.date.available2020-05-12T14:46:09Z
dc.date.issued2019
dc.description.abstractCapital structure serves as an important device for mitigation of agency conflicts and, although firms combine debt and cash dividends to address the agency conflicts, debt is preferred as a bonding device by many managers due to its lower cost as compared to equity (John, Knyazeva & Knyazeva, 2015). However, shariah-compliant firms (SCF) cannot use this device due to prohibition of interest-bearing loans in Islam. In this scenario, the dividend payout policy becomes a highly important tool of corporate governance for shariah-compliant investors. Moreover, the managers of these firms cannot maintain stable dividends by issuing bonds and, therefore, the dividend policy of such firms would be different. This chapter highlights the dividend payout behaviour of SCF by comparing them to conventional firms.en_US
dc.identifier.citationAnwer, Z., Ramadili Mohd, S. M., Mohd Rasid, M. E. S., Hassan, M. K., & Paltrinieri, A. (2019). Dividend policy: the case of Shariah-compliant firms. In M. K. Hassan, M. Rashid & S. Aliyu (Eds.), Islamic corporate finance (pp. 147-170). London: Taylor & Francis.en_US
dc.identifier.isbn9781138480919
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/3217
dc.languageEnglish
dc.language.isoengen_US
dc.publisherTaylor & Francisen_US
dc.rights2019. Taylor & Francis
dc.sourceSEDONA
dc.subjectDividend policyen_US
dc.subjectDivident payout behaviouren_US
dc.subjectShariah-compliant firmsen_US
dc.subjectCorporate governanceen_US
dc.titleDividend policy: the case of Shariah-compliant firmsen_US
dc.typeChapter in Booken_US
dlc.maintopicIslamic capital marketsen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic capital marketsen_US
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relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication.latestForDiscovery33b91dde-0170-454c-8f2b-ec4b208837b9
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