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Dividend Policy and Ownership Structure: Evidence from the Casablanca Stock Exchange

GSTF Journal on Business Review

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Field Value
 
Title Dividend Policy and Ownership Structure: Evidence from the Casablanca Stock Exchange
 
Creator ., Samir Aguenaou
., Omar Farooq
., Hui Di
 
Subject Agency Problems, Dividend Policy, Emerging Markets, Ownership Strcuture.
 
Description This study investigates the effect of the ownershipstructure on dividend policies for firms listed at the Casablancastock exchange. Two aspects of the ownership structure are used,the first is the ownership concentration and the second is theidentity of the largest shareholders. A panel data analysis isperformed to examine the relationship between the dividendpolicy and the ownership structure in this emerging market forthe period between 2004 and 2010. Results show that two formsof ownership identity influence negatively the dividend policy offirms listed. In fact, when the identity of the largest shareholderis either an industrial company or a family, the level ofdistributed dividends is decreased. Furthermore, findings showthat there is no impact of ownership concentration on dividendpolicies for firms listed at the Casablanca Stock Exchange.
 
Publisher GSTF Journal on Business Review (GBR)
 
Contributor —
 
Date 2014-08-20
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://dl6.globalstf.org/index.php/gbr/article/view/187
 
Source GSTF Journal on Business Review (GBR); Vol 2, No 4 (2013): Journal on Business Review (GBR)
ISSN: 2251-2888
2010-4804
 
Language eng
 
Relation http://dl6.globalstf.org/index.php/gbr/article/view/187/187
 
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