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payout</title> <meta name="description" content="Search results for: dividend payout"> <meta name="keywords" content="dividend payout"> <meta name="viewport" content="width=device-width, initial-scale=1, minimum-scale=1, maximum-scale=1, user-scalable=no"> <meta charset="utf-8"> <link href="https://cdn.waset.org/favicon.ico" type="image/x-icon" rel="shortcut icon"> <link href="https://cdn.waset.org/static/plugins/bootstrap-4.2.1/css/bootstrap.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/plugins/fontawesome/css/all.min.css" rel="stylesheet"> <link href="https://cdn.waset.org/static/css/site.css?v=150220211555" rel="stylesheet"> </head> <body> <header> <div class="container"> <nav class="navbar navbar-expand-lg navbar-light"> <a class="navbar-brand" href="https://waset.org"> <img src="https://cdn.waset.org/static/images/wasetc.png" alt="Open Science Research Excellence" title="Open Science Research Excellence" /> </a> <button class="d-block d-lg-none navbar-toggler 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id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="dividend payout"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 52</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: dividend payout</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">52</span> Corporate Social Responsibility and Dividend Policy</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mohammed%20Benlemlih">Mohammed Benlemlih</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Using a sample of 22,839 US firm-year observations over the 1991-2012 period, we find that high CSR firms pay more dividends than low CSR firms. The analysis of individual components of CSR provides strong support for this main finding: five of the six individual dimensions are also associated with high dividend payout. When analyzing the stability of dividend payout, our results show that socially irresponsible firms adjust dividends more rapidly than socially responsible firms do: dividend payout is more stable in high CSR firms. Additional results suggest that firms involved in two controversial activities -the military and alcohol - are associated with low dividend payouts. These findings are robust to alternative assumptions and model specifications, alternative measures of dividend, additional control, and several approaches to address endogeneity. Overall, our results are consistent with the expectation that high CSR firms may use dividend policy to manage the agency problems related to overinvestment in CSR. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20social%20responsibility" title="corporate social responsibility">corporate social responsibility</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title=" dividend policy"> dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=Lintner%20model" title=" Lintner model"> Lintner model</a>, <a href="https://publications.waset.org/abstracts/search?q=agency%20theory" title=" agency theory"> agency theory</a>, <a href="https://publications.waset.org/abstracts/search?q=signaling%20theory" title=" signaling theory"> signaling theory</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20stability" title=" dividend stability"> dividend stability</a> </p> <a href="https://publications.waset.org/abstracts/47675/corporate-social-responsibility-and-dividend-policy" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/47675.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">265</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">51</span> The Relationship Between Cultural Factors and Dividend Payouts of the Banks in Some Middle East Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Benjamin%20Bae">Benjamin Bae</a>, <a href="https://publications.waset.org/abstracts/search?q=Mahdy%20Elhusseiny"> Mahdy Elhusseiny</a>, <a href="https://publications.waset.org/abstracts/search?q=Sherif%20El-Halaby"> Sherif El-Halaby</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study investigates the relationship between some cultural factors and the level of dividend payouts of banks in a number of Muslim countries. We examine whether cultural factors play any role in determining dividend payout policy in banks. The results suggest that banks in high masculinity countries tend to pay higher dividends than low masculinity countries. The results also show that banks in high uncertainty avoidance (UA) countries tend to pay lower dividends than high UA countries. Additionally, the results of this study indicate that banks in high long-term orientation (LTO) countries tend to pay lower dividends than low LTO countries. However, two other cultural factors of power distance (PD) and individualism do not have any incremental explanatory power on the dividend payouts. Overall, this research adds to our understanding of the bank’s dividend payout policies. First, evidence on the relationship between the cultural factors and bank’s level of dividend payouts should be useful to investors. Second, the findings of this study provide financial statement users with useful information about the bank’s dividend payout levels. Third, in general, it also adds to the accounting and finance literature on dividends. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cultural%20factor" title="cultural factor">cultural factor</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20payout" title=" dividend payout"> dividend payout</a>, <a href="https://publications.waset.org/abstracts/search?q=Hofstede%20index" title=" Hofstede index"> Hofstede index</a>, <a href="https://publications.waset.org/abstracts/search?q=bank%20industry" title=" bank industry"> bank industry</a> </p> <a href="https://publications.waset.org/abstracts/159001/the-relationship-between-cultural-factors-and-dividend-payouts-of-the-banks-in-some-middle-east-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/159001.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">108</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">50</span> Effects of Family Ownership and Institutional Ownership on Cash Dividend Policy in Companies Listed at Tehran Stock Exchange</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mahdi%20Azizzadeh">Mahdi Azizzadeh</a>, <a href="https://publications.waset.org/abstracts/search?q=Ali%20Nabizadeh"> Ali Nabizadeh</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper investigates whether ownership structure has significant effects on dividend policy and the percentage of cash dividend payout ratio in Iranian companies listed on the Tehran Stock Exchange. We use a sample of 300 firm-years for 2010-2014. Results indicate that there is no significant relationship between family ownership and/or institutional ownership and dividend policy. Furthermore, there is no significant relationship between dividend policies in family-owned firms with high or low institutional ownership. However, our empirical test shows that family firms with a low level of institutional investors distribute more cash dividends on average than family firms with a high level of institutional ownership. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=family%20ownership" title="family ownership">family ownership</a>, <a href="https://publications.waset.org/abstracts/search?q=institutional%20ownership" title=" institutional ownership"> institutional ownership</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title=" dividend policy"> dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20payout%20ratio" title=" dividend payout ratio"> dividend payout ratio</a> </p> <a href="https://publications.waset.org/abstracts/55428/effects-of-family-ownership-and-institutional-ownership-on-cash-dividend-policy-in-companies-listed-at-tehran-stock-exchange" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/55428.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">303</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">49</span> Dividend Payout and Capital Structure: A Family Firm Perspective</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abhinav%20Kumar%20Rajverma">Abhinav Kumar Rajverma</a>, <a href="https://publications.waset.org/abstracts/search?q=Arun%20Kumar%20Misra"> Arun Kumar Misra</a>, <a href="https://publications.waset.org/abstracts/search?q=Abhijeet%20Chandra"> Abhijeet Chandra</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Family involvement in business is universal across countries, with varying characteristics. Firms of developed economies have diffused ownership structure; however, that of emerging markets have concentrated ownership structure, having resemblance with that of family firms. Optimization of dividend payout and leverage are very crucial for firm’s valuation. This paper studies dividend paying behavior of National Stock Exchange listed Indian firms from financial year 2007 to 2016. The final sample consists of 422 firms and of these more than 49% (207) are family firms. Results reveal that family firms pay lower dividend and are more leveraged compared to non-family firms. This unique data set helps to understand dividend behavior and capital structure of sample firms over a long-time period and across varying family ownership concentration. Using panel regression models, this paper examines factors affecting dividend payout and capital structure and establishes a link between the two using Two-stage Least Squares regression model. Profitability shows a positive impact on dividend and negative impact on leverage, confirming signaling and pecking order theory. Further, findings support bankruptcy theory as firm size has a positive relation with dividend and leverage and volatility shows a negative relation with both dividend and leverage. Findings are also consistent with agency theory, family ownership concentration has negative relation with both dividend payments and leverage. Further, the impact of family ownership control confirms the similar finding. The study further reveals that firms with high family ownership concentration (family control) do have an impact on determining the level of private benefits. Institutional ownership is not significant for dividend payments. However, it shows significant negative relation with leverage for both family and non-family firms. Dividend payout and leverage show mixed association with each other. This paper provides evidence of how varying level of family ownership concentration and ownership control influences the dividend policy and capital structure of firms in an emerging market like India and it can have significant contribution towards understanding and formulating corporate dividend policy decisions and capital structure for emerging economies, where majority of firms exhibit behavior of family firm. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividend" title="dividend">dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=family%20firms" title=" family firms"> family firms</a>, <a href="https://publications.waset.org/abstracts/search?q=leverage" title=" leverage"> leverage</a>, <a href="https://publications.waset.org/abstracts/search?q=ownership%20structure" title=" ownership structure"> ownership structure</a> </p> <a href="https://publications.waset.org/abstracts/79098/dividend-payout-and-capital-structure-a-family-firm-perspective" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/79098.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">280</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">48</span> Dividend Initiations and IPO Long-Run Performance</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nithi%20Sermsiriviboon">Nithi Sermsiriviboon</a>, <a href="https://publications.waset.org/abstracts/search?q=Somchai%20Supattarakul"> Somchai Supattarakul</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Dividend initiations are an economically significant event that has important implications for a firm’s future financial capacity. Given that the market’s expectation of a consistent payout, managers of IPO firms must approach the initial dividend decision cautiously. We compare the long run performance of IPO firms that initiated dividends with those of similarly matched non-payers. We found that firms which initiated dividends perform significantly better up to three years after the initiation date. Moreover, we measure investor reactions by 2-day around dividend announcement date cumulative abnormal return. We evidence no statistically significant differences between cumulative abnormal returns (CAR) of IPO firms and cumulative abnormal returns of Non-IPO firms, indicating that investors do not respond to dividend announcement of IPO firms more than they do to the dividend announcement of Non-IPO firms. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividend" title="dividend">dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=initial%20public%20offerings" title=" initial public offerings"> initial public offerings</a>, <a href="https://publications.waset.org/abstracts/search?q=long-run%20performance" title=" long-run performance"> long-run performance</a>, <a href="https://publications.waset.org/abstracts/search?q=finance" title=" finance"> finance</a> </p> <a href="https://publications.waset.org/abstracts/7499/dividend-initiations-and-ipo-long-run-performance" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/7499.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">236</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">47</span> Evaluation of Key Performance Indicators as Determinants of Dividend Paid on Ordinary Shares in Nigeria Banking Sector</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Oliver%20Ikechukwu%20Inyiama">Oliver Ikechukwu Inyiama</a>, <a href="https://publications.waset.org/abstracts/search?q=Boniface%20Uche%20Ugwuanyi"> Boniface Uche Ugwuanyi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The aim of the research is to evaluate the key financial performance indicators that help both managers and their shareholders of Nigerian Banks to determine the appropriate dividend payout to their ordinary shareholders in an accounting year. Profitability, total asset, and earnings of commercial banks were selected as key performance indicators in Nigeria Banking Sector. They represent the independent variables of the study while dividend per share is the proxy for the dividend paid on ordinary shares which represent the dependent variable. The effect of profitability, total asset and earnings on dividend per share were evaluated through the ordinary least square method of multiple regression analysis. Test for normality of frequency distribution was conducted through descriptive statistics such as Jacque Bera Statistic, skewness and kurtosis. Rate of dividend payout was subsequently applied as an alternate dependent variable to test for robustness of the earlier results. The 64% adjusted R-squared of the pooled data indicates that profitability, total asset, and earnings explain the variation in dividend per share during the period under research while the remaining 36% variation in dividend per share could be explained by changes in other variables not captured by this study as well as the error term. The study concentrated on four leading Nigeria Commercial Banks namely; First Bank of Nigeria Plc, GTBank Plc, United Bank for Africa Plc and Zenith International Bank Plc. Dividend per share was found to be positively affected by total assets and earnings of the commercial banks. However, profitability which was proxied by profit after tax had a negative effect on dividend per share. The implication of the findings is that commercial banks in Nigeria pay more dividend when they are having a dwindling fortune in order to retain the confidence of the shareholders provided their gross earnings and size is on the increase. Therefore, the management and board of directors of Nigeria commercial banks should apply decent marketing strategies to enhance earnings through investment in profitable ventures for an improved dividend payout rate. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=assets" title="assets">assets</a>, <a href="https://publications.waset.org/abstracts/search?q=banks" title=" banks"> banks</a>, <a href="https://publications.waset.org/abstracts/search?q=indicators" title=" indicators"> indicators</a>, <a href="https://publications.waset.org/abstracts/search?q=performance" title=" performance"> performance</a>, <a href="https://publications.waset.org/abstracts/search?q=profitability" title=" profitability"> profitability</a>, <a href="https://publications.waset.org/abstracts/search?q=shares" title=" shares"> shares</a> </p> <a href="https://publications.waset.org/abstracts/107864/evaluation-of-key-performance-indicators-as-determinants-of-dividend-paid-on-ordinary-shares-in-nigeria-banking-sector" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/107864.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">163</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">46</span> Ownership Concentration and Payout Policy: Evidence from France</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Asma%20Bentaifa">Asma Bentaifa</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper investigates the effect of ownership concentration and especially the presence of controlling shareholders on the firm’s payout decisions. Using a sample of 870 French companies during 2007 to 2012, we find that the share of dividends in total payout is negatively correlated with the size of cash flow held by controlling shareholder, and positively related to the divergence between voting rights and cash flow rights of largest shareholders. We also document that controlled firms tend to prefer dividends over repurchases to mitigate conflicts between controlling shareholders and minority shareholders related to the presence of control enhancing devices. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ownership" title="ownership">ownership</a>, <a href="https://publications.waset.org/abstracts/search?q=payout%20policy" title=" payout policy"> payout policy</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend" title=" dividend"> dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=minority%20expropriation" title=" minority expropriation"> minority expropriation</a> </p> <a href="https://publications.waset.org/abstracts/35359/ownership-concentration-and-payout-policy-evidence-from-france" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35359.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">221</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">45</span> Determinants of Dividend Payout Ratio: Evidence form MENA Region</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdul-Nasser%20El-Kassar">Abdul-Nasser El-Kassar</a>, <a href="https://publications.waset.org/abstracts/search?q=Walid%20Elgammal"> Walid Elgammal</a>, <a href="https://publications.waset.org/abstracts/search?q=Hisham%20Jawhar"> Hisham Jawhar</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper studies the determinants of the dividends payout ratio. The factors affecting the dividends payout ratio are to be identified. The study focuses only on the cement and construction industry within the MENA region in an attempt to isolate any incoherent behavior. The factors under consideration are: sales growth, ROE, ROA, ROS, debt to equity ratio, firm size, and free cash flow. Data were collected from official stock exchange markets in addition to annual reports. The study considered all firms that paid dividend in each of the three consecutive years starting from 2010 till 2012. Out of the 123 listed firms that work in cement and construction industry in MENA region, only 19 paid dividends in the three consecutive years 2010-12. Our sample consists of the 19 firms (57 observations) which are selected according to purposive sampling. Moreover, the study uses the homogeneous subcategory within the purposive sampling since only similar firms in the construction industry had been examined. The outcome of the study provides a vital insight into the determinants of dividends payout ratio of companies in MENA region. The results showed that the dividend payout ratio has a strong and positive relationship with return on assets and strong but negative relationship with return on equity. On the other hand, the results detected weak relationships between dividend payout ratio and sale growth, debt to equity ratio, firm size, and free cash flow. The study suggests that board of directors tend to compensate shareholders and minimize the agency cost by distributing a high portion of profits in form of dividends whenever return on equity decreases. Also, when the performance of the firm improves, and hence return on assets increases, boards of directors are more generous in distributing profits. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividends%20payout%20ratio" title="dividends payout ratio">dividends payout ratio</a>, <a href="https://publications.waset.org/abstracts/search?q=profitability%20firm%20size" title=" profitability firm size"> profitability firm size</a>, <a href="https://publications.waset.org/abstracts/search?q=free%20cashflow" title=" free cashflow"> free cashflow</a>, <a href="https://publications.waset.org/abstracts/search?q=debt%20to%20equity%20ratio" title=" debt to equity ratio"> debt to equity ratio</a> </p> <a href="https://publications.waset.org/abstracts/11135/determinants-of-dividend-payout-ratio-evidence-form-mena-region" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/11135.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">364</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">44</span> Managerial Overconfidence, Payout Policy, and Corporate Governance: Evidence from UK Companies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abdullah%20AlGhazali">Abdullah AlGhazali</a>, <a href="https://publications.waset.org/abstracts/search?q=Richard%20Fairchild"> Richard Fairchild</a>, <a href="https://publications.waset.org/abstracts/search?q=Yilmaz%20Guney"> Yilmaz Guney </a> </p> <p class="card-text"><strong>Abstract:</strong></p> We examine the effect of managerial overconfidence on UK firms’ payout policy for the period 2000 to 2012. The analysis incorporates, in addition to common firm-specific factors, a wide range of corporate governance factors and managerial characteristics that have been documented to affect the relationship between overconfidence and payout policy. Our results are robust to several estimation considerations. The findings show that the influence of overconfident CEOs on the amount of, and the propensity to pay, dividends is significant within the UK context. Specifically, we detect that there is a reduction in dividend payments in firms managed by overconfident managers compared to their non-overconfident counterparts. Moreover, we affirm that cash flows, firm size and profitability are positively correlated, while leverage, firm growth and investment are negatively correlated with the amount of and propensity to pay dividends. Interestingly, we demonstrate that firms with the potential for undervaluation reduce dividend payments. Some of the corporate governance factors are shown to motivate firms to pay more dividends while these factors seem to have no influence on the propensity to pay dividends. The results also show that in general higher overconfidence leads to more share repurchases but the lower total payout. Overall, managerial overconfidence should be considered as an important factor influencing payout policy in addition to other known factors. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividends" title="dividends">dividends</a>, <a href="https://publications.waset.org/abstracts/search?q=repurchases" title=" repurchases"> repurchases</a>, <a href="https://publications.waset.org/abstracts/search?q=UK%20firms" title=" UK firms"> UK firms</a>, <a href="https://publications.waset.org/abstracts/search?q=overconfidence" title=" overconfidence"> overconfidence</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title=" corporate governance"> corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=undervaluation" title=" undervaluation"> undervaluation</a> </p> <a href="https://publications.waset.org/abstracts/33666/managerial-overconfidence-payout-policy-and-corporate-governance-evidence-from-uk-companies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33666.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">270</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">43</span> The Life-Cycle Theory of Dividends: Evidence from Indonesia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Vashti%20Carissa">Vashti Carissa</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The main objective of this study is to examine whether the life-cycle theory of dividends could explain the determinant of an optimal dividend policy in Indonesia. The sample that was used consists of 1,420 non-financial and non-trade, services, investment firms listed in Indonesian Stock Exchange during the period of 2005-2014. According to this finding using logistic regression, firm life-cycle measured by retained earnings as a proportion of total equity (RETE) significantly has a positive effect on the propensity of a firm pays dividend. The higher company’s earned surplus portion in its capital structure could reflect firm maturity level which will increase the likelihood of dividend payment in mature firms. This result provides an additional empirical evidence about the existence of life-cycle theory of dividends for dividend payout phenomenon in Indonesia. It can be known that dividends tend to be paid by mature firms while retention is more dominating in growth firms. From the testing results, it can also be known that majority of sample firms are being in the growth phase which proves the fact about infrequent dividend distribution in Indonesia during the ten years observation period. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividend" title="dividend">dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title=" dividend policy"> dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=life-cycle%20theory%20of%20dividends" title=" life-cycle theory of dividends"> life-cycle theory of dividends</a>, <a href="https://publications.waset.org/abstracts/search?q=mix%20of%20earned%20and%20contributed%20capital" title=" mix of earned and contributed capital"> mix of earned and contributed capital</a> </p> <a href="https://publications.waset.org/abstracts/56617/the-life-cycle-theory-of-dividends-evidence-from-indonesia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56617.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">290</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">42</span> Impact of Capital Structure, Dividend Policy and Sustainability on Value of Firm: A Case Study of Spinning Textile Sector of Pakistan</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zahid%20Ahmad">Zahid Ahmad</a>, <a href="https://publications.waset.org/abstracts/search?q=Samia%20Yousaf"> Samia Yousaf</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The main purpose of this study is to evaluate and assess the financial position, operating performance, and recent outlook of the companies. This study investigates the impact of capital structure, dividend policy and sustainability on the value of firms of textile spinning sector of Pakistan which is listed on Pakistan stock exchange. The panel data technique has been applied to this group of textile sector which is textile spinning. This study covers the last ten years of time period. All the data related to the variables have been collected from the annual reports and financial statements of the textile sector firms. There are differently related determinants to measure the capital structure which are fixed assets turnover ratio, debt ratio, equity ratio, debt to equity ratio, assets tangibility, and shareholder’s equity. Dividend policy is being measured by two determinants which are earning per share (EPS) and dividend payout ratio. Sustainability is being measured by three suitable factors which are sales growth, gross profit margin ratio and firm size. These are three independent variables and their determinants of this study. Value of firm is measured through the return on asset (ROA). Capital structure is at the top of the list among all the three variables. According to the results of this research work, somewhere all the three variables generates positive and significant effect on the firm’s performance and its growth. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=capital%20structure" title="capital structure">capital structure</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title=" dividend policy"> dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=panel%20data" title=" panel data"> panel data</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a> </p> <a href="https://publications.waset.org/abstracts/79844/impact-of-capital-structure-dividend-policy-and-sustainability-on-value-of-firm-a-case-study-of-spinning-textile-sector-of-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/79844.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">231</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">41</span> Employability Skills: The Route to Achieve Demographic Dividend in India</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Malathi%20Iyer">Malathi Iyer</a>, <a href="https://publications.waset.org/abstracts/search?q=Jayesh%20Vaidya"> Jayesh Vaidya</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The demographic dividend of India will last for thirty years from now. However, reduction in birth rate, an increase in working population, improvements in medicine and better health practices lead to an ever-expanding elderly population, bringing additional burden to the economy and putting an end to the demographic dividend. To reap the dividend India needs to train the youth for employability. The need of the hour is to improve their life skills which lead the youth to become industrious and have continuous employment. The study will be conducted in perceiving the skill gaps that exist in commerce students for employability. The analysis results indicate the relation between the core study and the right skills for the workforce, with the steps that are taken to open the window for the demographic dividend. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=demographic%20dividend" title="demographic dividend">demographic dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=life%20skills" title=" life skills"> life skills</a>, <a href="https://publications.waset.org/abstracts/search?q=employability" title=" employability"> employability</a>, <a href="https://publications.waset.org/abstracts/search?q=workforce" title=" workforce"> workforce</a> </p> <a href="https://publications.waset.org/abstracts/65649/employability-skills-the-route-to-achieve-demographic-dividend-in-india" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/65649.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">522</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">40</span> The Impact of Corporate Governance Mechanisms on Dividend Policy</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tahar%20Tayachi">Tahar Tayachi</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahlam%20Alrehaili"> Ahlam Alrehaili</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Purpose: The purpose of this paper is to investigate the relationship between the corporate board characteristics and the dividend policy among firms on the Saudi Stock Exchange. Design/Methodology/Approach: This paper uses a sample of 103 nonfinancial firms over a time period of 4 years from 2015 to 2018. To investigate how corporate governance mechanisms such as board independence, the board size, frequency of meetings, and free cash flow impact dividends, the study uses Logit and Tobit models. Findings: This paper finds that board size, board independence, and frequency of board meetings have no influence on a firm’s decision to pay dividends, while board size has a significantly positive impact on the levels of cash dividends paid to investors. This study also finds that the level of free cash flows has a positively significant influence on both the decision to pay dividends and the magnitude of dividend payouts. Research Limitations/Implications: This paper attempts to study the effectiveness of dividend policy among some firms on the Saudi Stock Exchange. Practical Implications: The findings reveal that board characteristics, which represent one of the crucial mechanisms of corporate governance, were found to be complementary to corporate laws and regulations imposed on the Saudi market in 2015. The findings also imply that capital market authorities should revise their corporate regulations and ensure that protection laws are adequate and strong enough to protect the interests of all shareholders. Originality/Value: This paper is among the few studies focusing on dividend policy in Saudi Arabia. Finally, these findings suggest that the improvements in corporate laws in Saudi Arabia led to such an outcome, and it has become prevalent in dividend policy decisions and behaviors of Saudi firms. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=agency%20theory" title="agency theory">agency theory</a>, <a href="https://publications.waset.org/abstracts/search?q=Tobit" title=" Tobit"> Tobit</a>, <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title=" corporate governance"> corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20payout" title=" dividend payout"> dividend payout</a>, <a href="https://publications.waset.org/abstracts/search?q=Logit" title=" Logit"> Logit</a> </p> <a href="https://publications.waset.org/abstracts/132035/the-impact-of-corporate-governance-mechanisms-on-dividend-policy" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/132035.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">204</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">39</span> Factors Influencing Capital Structure: Evidence from the Oil and Gas Industry of Pakistan </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Muhammad%20Tahir">Muhammad Tahir</a>, <a href="https://publications.waset.org/abstracts/search?q=Mushtaq%20Muhammad"> Mushtaq Muhammad</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Capital structure is one of the key decisions taken by the financial managers. This study aims to investigate the factors influencing capital structure decision in Oil and Gas industry of Pakistan using secondary data from published annual reports of listed Oil and Gas Companies of Pakistan. This study covers the time-period from 2008-2014. Capital structure can be affected by profitability, firm size, growth opportunities, dividend payout, liquidity, business risk, and ownership structure. Panel data technique with Ordinary least square (OLS) regression model has been used to find the impact of set of explanatory variables on the capital structure using the Stata. OLS regression results suggest that dividend payout, firm size and government ownership have the most significant impact on financial leverage. Dividend payout and government ownership are found to have significant negative association with financial leverage however firm size indicated positive relationship with financial leverage. Other variables having significant link with financial leverage includes growth opportunities, liquidity and business risk. Results reveal significant positive association between growth opportunities and financial leverage whereas liquidity and business risk are negatively correlated with financial leverage. Profitability and managerial ownership exhibited insignificant relationship with financial leverage. This study contributes to existing Managerial Finance literature with certain managerial implications. Academically, this research study describes the factors affecting capital structure decision of Oil and Gas Companies in Pakistan and adds latest empirical evidence to existing financial literature in Pakistan. Researchers have studies capital structure in Pakistan in general and industry at specific, nevertheless still there is limited literature on this issue. This study will be an attempt to fill this gap in the academic literature. This study has practical implication on both firm level and individual investor/ lenders level. Results of this study can be useful for investors/ lenders in making investment and lending decisions. Further, results of this study can be useful for financial managers to frame optimal capital structure keeping in consideration the factors that can affect capital structure decision as revealed by this study. These results will help financial managers to decide whether to issue stock or issue debt for future investment projects. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=capital%20structure" title="capital structure">capital structure</a>, <a href="https://publications.waset.org/abstracts/search?q=multicollinearity" title=" multicollinearity"> multicollinearity</a>, <a href="https://publications.waset.org/abstracts/search?q=ordinary%20least%20square%20%28OLS%29" title=" ordinary least square (OLS)"> ordinary least square (OLS)</a>, <a href="https://publications.waset.org/abstracts/search?q=panel%20data" title=" panel data"> panel data</a> </p> <a href="https://publications.waset.org/abstracts/56087/factors-influencing-capital-structure-evidence-from-the-oil-and-gas-industry-of-pakistan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56087.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">293</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">38</span> A Comparative Study of Dividend Policy and Share Price across the South Asian Countries</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Anwar%20Hussain">Anwar Hussain</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahmed%20Imran"> Ahmed Imran</a>, <a href="https://publications.waset.org/abstracts/search?q=Farida%20Faisal"> Farida Faisal</a>, <a href="https://publications.waset.org/abstracts/search?q=Fatima%20Sultana"> Fatima Sultana</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The present research evaluates a comparative assessment of dividend policy and share price across the South Asian countries including Pakistan, India and Sri-Lanka over the period of 2010 to 2014. Academic writers found that dividend policy and share price relationship is not same in south Asian market due to different reasons. Moreover, Panel Models used = for the evaluation of current study. In addition, Redundant fixed effect Likelihood and Hausman test used for determine of Common, Fixed and Random effect model. Therefore Indian market dividend policies play a fundamental role and significant impact on Market Share Prices. Although, present research found that different as compared to previous study that dividend policy have no impact on share price in Sri-Lanka and Pakistan. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title="dividend policy">dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=share%20price" title=" share price"> share price</a>, <a href="https://publications.waset.org/abstracts/search?q=South%20Asian%20countries" title=" South Asian countries"> South Asian countries</a>, <a href="https://publications.waset.org/abstracts/search?q=panel%20data%20analysis" title=" panel data analysis"> panel data analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=theories%20and%20parameters%20of%20dividend" title=" theories and parameters of dividend"> theories and parameters of dividend</a> </p> <a href="https://publications.waset.org/abstracts/44156/a-comparative-study-of-dividend-policy-and-share-price-across-the-south-asian-countries" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/44156.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">323</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">37</span> Effects of Dividend Policy on Firm Profitability and Growth in Light of Present Economic Conditions</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Madani%20Chahinaz">Madani Chahinaz</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study aims to shed light on the impact of dividend policy on corporate profitability and its relationship to growth, considering the economic developments taking place. The study was conducted on a sample of seven companies for the period from 2014 to 2020, based on a set of determinants to select variables affecting dividend distribution, where the descriptive analytical approach relied upon using graphical data models. The study concluded that companies that follow a well-studied dividend distribution policy enjoy higher profitability rates, which contributes to enhancing their growth in light of the economic developments taking place. There is also no statistically significant relationship between the variables of total asset growth and fixed asset growth and profitability. The study also concluded that there is statistical significance for the relationship between the sales volume growth variable, the self-financing ratio variable, and dividend distribution at a significance level of 0.05, as the random effects model was able to explain 68% of the changes in dividend distribution policy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividend%20distribution%20policy" title="dividend distribution policy">dividend distribution policy</a>, <a href="https://publications.waset.org/abstracts/search?q=profitability" title=" profitability"> profitability</a>, <a href="https://publications.waset.org/abstracts/search?q=growth" title=" growth"> growth</a>, <a href="https://publications.waset.org/abstracts/search?q=self-financing%20ratio" title=" self-financing ratio"> self-financing ratio</a> </p> <a href="https://publications.waset.org/abstracts/193864/effects-of-dividend-policy-on-firm-profitability-and-growth-in-light-of-present-economic-conditions" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/193864.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">9</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">36</span> The Disruptive Effect of COVID-19 on the Informativeness of Dividend Increases: Some Evidence from Johannesburg Stock Exchange-Listed Companies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Faustina%20Masocha">Faustina Masocha</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study sought to determine if the Covid-19 pandemic played a disruptive role in the signalling effect of dividend increases for the Top 40 companies listed on the Johannesburg Stock Exchange. With the use of Event Study Methodologies, it was found that dividend increases that were announced in the 2018 and 2019 financial years resulted in Cumulative Abnormal Returns (CARs) that were significantly different from zero, as confirmed by a p-value of 0,0300. This resulted in the conclusion that, under normal circumstances, dividend increases follow the precepts outlined in signalling theories which indicate that the announcement of dividend increases sent positive signals about the expected financial performance of a company. To prove the notion that Covid-19 plays a disruptive role on the signalling hypothesis, it was found from both parametric and non-parametric tests of significance that CARs related to dividend increases that were announced during the 2020 and 2021 financial years, when the Covid-19 pandemic was at its peak, were not significantly different from zero. Therefore, although the dividend increases still resulted in some CARs, such CARs were not statistically different from zero to confirm the signalling hypothesis. A p-value of 0.9830 from parametric t-tests and a p-value of 0.8971 from the Wilcoxon signed-rank test were used as a gauge that led to the conclusion that Covid-19 plays a disruptive effect on the signalling process of dividend increases. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=cumulative%20abnormal%20returns" title="cumulative abnormal returns">cumulative abnormal returns</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20increases" title=" dividend increases"> dividend increases</a>, <a href="https://publications.waset.org/abstracts/search?q=event%20study%20methodology" title=" event study methodology"> event study methodology</a>, <a href="https://publications.waset.org/abstracts/search?q=signalling" title=" signalling"> signalling</a> </p> <a href="https://publications.waset.org/abstracts/152301/the-disruptive-effect-of-covid-19-on-the-informativeness-of-dividend-increases-some-evidence-from-johannesburg-stock-exchange-listed-companies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/152301.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">122</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">35</span> Investment Decision among Public Sector Retirees: A Behavioural Finance View </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Bisi%20S.%20Olawoyin">Bisi S. Olawoyin </a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study attempts an exploration into behavioural finance in which the traditional assumptions of expected utility maximization with rational investors in efficient markets are dropped. It reviews prior research and evidence about how psychological biases affect investors behaviour and stock selection. This study examined the relationship between demographic variables and financial behaviour biases among public sector retirees who invested in the Nigerian Stock Exchange prior to their retirement. By using questionnaire survey method, a total of 214 valid convenient samples were collected in order to determine how specific demographic and psychological trait affect stock selection between dividend paying and non-dividend paying stocks. Descriptive statistics and OLS were used to analyse the results. Findings showed that most of the retirees prefer dividend paying stocks in few years preceding their retirement but still hold on to their non-dividend paying stock on retirement. A significant difference also exists between senior and junior retirees in preference for non-dividend paying stocks. These findings are consistent with the clientele theories of dividend. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=behavioural%20finance" title="behavioural finance">behavioural finance</a>, <a href="https://publications.waset.org/abstracts/search?q=clientele%20theories" title=" clientele theories"> clientele theories</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20paying%20stocks" title=" dividend paying stocks"> dividend paying stocks</a>, <a href="https://publications.waset.org/abstracts/search?q=stock%20selection" title=" stock selection"> stock selection</a> </p> <a href="https://publications.waset.org/abstracts/84208/investment-decision-among-public-sector-retirees-a-behavioural-finance-view" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/84208.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">142</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">34</span> The Role of Labour Substitution by Age in the Effect of Fertility on Living Standards: Simulations for Scandinavia</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Ross%20Guest">Ross Guest</a>, <a href="https://publications.waset.org/abstracts/search?q=Bjarne%20Jensen"> Bjarne Jensen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper analyses a potentially new consumption dividend from lower fertility arising from imperfect labour substitution by age. A smaller proportion of young workers relative to older workers raises relative youth wages given imperfect labour substitution by age. Discounted lifetime labour income rises which provides a consumption dividend. Simulation results are reported for the four Scandinavian countries, adopting a simple overlapping generations model. Imperfect labour substitution is modelled using a CRESH functional form of an aggregate labour index. The magnitudes of this new consumption dividend from a Low fertility projection compared with a high fertility projection are found to be approximately 4 percent annually, on average over the Scandinavian countries in the very long run, but somewhat lower in the short term. There is some sensitivity to the interest rate and the degree of consumption smoothing. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=fertility" title="fertility">fertility</a>, <a href="https://publications.waset.org/abstracts/search?q=consumption" title=" consumption"> consumption</a>, <a href="https://publications.waset.org/abstracts/search?q=productivity" title=" productivity"> productivity</a>, <a href="https://publications.waset.org/abstracts/search?q=labour%20substitution" title=" labour substitution"> labour substitution</a> </p> <a href="https://publications.waset.org/abstracts/13514/the-role-of-labour-substitution-by-age-in-the-effect-of-fertility-on-living-standards-simulations-for-scandinavia" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/13514.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">350</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">33</span> Demographic Dividend and Creation of Human and Knowledge Capital in Liberal India: An Endogenous Growth Process</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Arjun%20K.">Arjun K.</a>, <a href="https://publications.waset.org/abstracts/search?q=Arumugam%20Sankaran"> Arumugam Sankaran</a>, <a href="https://publications.waset.org/abstracts/search?q=Sanjay%20Kumar"> Sanjay Kumar</a>, <a href="https://publications.waset.org/abstracts/search?q=Mousumi%20%20Das"> Mousumi Das</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The paper analyses the existence of endogenous growth scenario emanating from the demographic dividend in India during the liberalization period starting from 1980. Demographic dividend creates a fertile ground for the cultivation of human and knowledge capitals contributing to technological progress which can be measured using total factor productivity. The relationship among total factor productivity, human and knowledge capitals are examined in an open endogenous framework for the period 1980-2016. The control variables such as foreign direct investment, trade openness, energy consumption are also employed. The data are sourced from Reserve Bank of India, World Bank, International Energy Agency and The National Science and Technology Management Information System. To understand the dynamic association among variables, ARDL bounds approach to cointegration followed by Toda-Yamamoto causality test are used. The results reveal a short run and long run relationship among the variables supported by the existence of causality. This calls for an integrated policy to build and augment human capital and research and development activities to sustain and pace up growth and development in the nation. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=demographic%20dividend" title="demographic dividend">demographic dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=young%20population" title=" young population"> young population</a>, <a href="https://publications.waset.org/abstracts/search?q=open%20endogenous%20growth%20models" title=" open endogenous growth models"> open endogenous growth models</a>, <a href="https://publications.waset.org/abstracts/search?q=human%20and%20knowledge%20capital" title=" human and knowledge capital"> human and knowledge capital</a> </p> <a href="https://publications.waset.org/abstracts/107591/demographic-dividend-and-creation-of-human-and-knowledge-capital-in-liberal-india-an-endogenous-growth-process" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/107591.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">151</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">32</span> Dividend Policy in Family Controlling Firms from a Governance Perspective: Empirical Evidence in Thailand</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tanapond%20S.">Tanapond S.</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Typically, most of the controlling firms are relate to family firms which are widespread and important for economic growth particularly in Asian Pacific region. The unique characteristics of the controlling families tend to play an important role in determining the corporate policies such as dividend policy. Given the complexity of the family business phenomenon, the empirical evidence has been unclear on how the families behind business groups influence dividend policy in Asian markets with the prevalent existence of cross-shareholdings and pyramidal structure. Dividend policy as one of an important determinant of firm value could also be implemented in order to examine the effect of the controlling families behind business groups on strategic decisions-making in terms of a governance perspective and agency problems. The purpose of this paper is to investigate the impact of ownership structure and concentration which are influential internal corporate governance mechanisms in family firms on dividend decision-making. Using panel data and constructing a unique dataset of family ownership and control through hand-collecting information from the nonfinancial companies listed in Stock Exchange of Thailand (SET) between 2000 and 2015, the study finds that family firms with large stakes distribute higher dividends than family firms with small stakes. Family ownership can mitigate the agency problems and the expropriation of minority investors in family firms. To provide insight into the distinguish between ownership rights and control rights, this study examines specific firm characteristics including the degrees of concentration of controlling shareholders by classifying family ownership in different categories. The results show that controlling families with large deviation between voting rights and cash flow rights have more power and affect lower dividend payment. These situations become worse when second blockholders are families. To the best knowledge of the researcher, this study is the first to examine the association between family firms’ characteristics and dividend policy from the corporate governance perspectives in Thailand with weak investor protection environment and high ownership concentration. This research also underscores the importance of family control especially in a context in which family business groups and pyramidal structure are prevalent. As a result, academics and policy makers can develop markets and corporate policies to eliminate agency problem. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=agency%20theory" title="agency theory">agency theory</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title=" dividend policy"> dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=family%20control" title=" family control"> family control</a>, <a href="https://publications.waset.org/abstracts/search?q=Thailand" title=" Thailand"> Thailand</a> </p> <a href="https://publications.waset.org/abstracts/73520/dividend-policy-in-family-controlling-firms-from-a-governance-perspective-empirical-evidence-in-thailand" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/73520.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">290</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">31</span> Investors' Ratio Analysis and the Profitability of Listed Firms: Evidence from Nigeria</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Abisola%20Akinola">Abisola Akinola</a>, <a href="https://publications.waset.org/abstracts/search?q=Akinsulere%20Femi"> Akinsulere Femi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The stock market has continually been a source of economic development in most developing countries. This study examined the relationship between investors’ ratio analysis and profitability of quoted companies in Nigeria using secondary data obtained from the annual reports of forty-two (42) companies. The study employed the multiple regression technique to analyze the relationship between investors’ ratio analysis (measured by dividend per share and earning per share) and profitability (measured by the return on equity). The results from the analysis show that investors’ ratio analysis, when measured by earnings per share, have a positive and significant impact on profitability. However, the study noted that investors’ ratio analysis, when measured by dividend per share, tend to have a positive impact on profitability but it is statistically insignificant. By implication, investors and other stakeholders that are interested in investing in stocks can predict the earning capacity of listed firms in the stock market. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividend%20per%20share" title="dividend per share">dividend per share</a>, <a href="https://publications.waset.org/abstracts/search?q=earnings%20per%20share" title=" earnings per share"> earnings per share</a>, <a href="https://publications.waset.org/abstracts/search?q=profitability" title=" profitability"> profitability</a>, <a href="https://publications.waset.org/abstracts/search?q=return%20on%20equity" title=" return on equity"> return on equity</a> </p> <a href="https://publications.waset.org/abstracts/109160/investors-ratio-analysis-and-the-profitability-of-listed-firms-evidence-from-nigeria" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/109160.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">137</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">30</span> Lewis Turning Point in China: Interviewing Perceptions of Fertility Policies by Unmarried Female Millennials</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Yunqi%20Wang">Yunqi Wang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Benefiting from the demographic dividend, China has enjoyed export-led economic growth since 1978. While Lewis's model marks the structural transformation from the low-wage 'subsistence' sector to the 'modern sector' as the end of labour surplus, the Chinese government seems eager to extend such benefit by promoting a series of fertility encouragement policies, contrasting to its firm and strict birth control since last century. Based on a Attride-Stirling’s thematic analysis of interviews with unmarried female millennials in China, this paper argues that the young female generation responded to current fertility policies negatively, where the policy ineffectiveness and irresponsiveness have further worsened their marriage and childbirth reluctance. Instead of focusing on changes in wage level, this research contributes a qualitative perspective to the existing theoretical debate on the Lewis turning point, implying an inevitable end of demographic dividend in China. Highlighting the greater focus on female consciousness among the younger generation, it also suggests a policy orientation towards resolving outdated social norms to accommodate the rising female consciousness since millennials will become the childbirth mainstay in forthcoming years. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=lewis%20model" title="lewis model">lewis model</a>, <a href="https://publications.waset.org/abstracts/search?q=fertility%20policy" title=" fertility policy"> fertility policy</a>, <a href="https://publications.waset.org/abstracts/search?q=demographic%20dividend" title=" demographic dividend"> demographic dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=one-child%20policy" title=" one-child policy"> one-child policy</a> </p> <a href="https://publications.waset.org/abstracts/152052/lewis-turning-point-in-china-interviewing-perceptions-of-fertility-policies-by-unmarried-female-millennials" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/152052.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">120</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">29</span> Signaling Theory: An Investigation on the Informativeness of Dividends and Earnings Announcements</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Faustina%20Masocha">Faustina Masocha</a>, <a href="https://publications.waset.org/abstracts/search?q=Vusani%20Moyo"> Vusani Moyo</a> </p> <p class="card-text"><strong>Abstract:</strong></p> For decades, dividend announcements have been presumed to contain important signals about the future prospects of companies. Similarly, the same has been presumed about management earnings announcements. Despite both dividend and earnings announcements being considered informative, a number of researchers questioned their credibility and found both to contain short-term signals. Pertaining to dividend announcements, some authors argued that although they might contain important information that can result in changes in share prices, which consequently results in the accumulation of abnormal returns, their degree of informativeness is less compared to other signaling tools such as earnings announcements. Yet, this claim in favor has been refuted by other researchers who found the effect of earnings to be transitory and of little value to shareholders as indicated by the little abnormal returns earned during the period surrounding earnings announcements. Considering the above, it is apparent that both dividends and earnings have been hypothesized to have a signaling impact. This prompts one to question which between these two signaling tools is more informative. To answer this question, two follow-up questions were asked. The first question sought to determine the event which results in the most effect on share prices, while the second question focused on the event that influenced trading volume the most. To answer the first question and evaluate the effect that each of these events had on share prices, an event study methodology was employed on a sample made up of the top 10 JSE-listed companies for data collected from 2012 to 2019 to determine if shareholders gained abnormal returns (ARs) during announcement dates. The event that resulted in the most persistent and highest amount of ARs was considered to be more informative. Looking at the second follow-up question, an investigation was conducted to determine if either dividends or earnings announcements influenced trading patterns, resulting in abnormal trading volumes (ATV) around announcement time. The event that resulted in the most ATV was considered more informative. Using an estimation period of 20 days and an event window of 21 days, and hypothesis testing, it was found that announcements pertaining to the increase of earnings resulted in the most ARs, Cumulative Abnormal Returns (CARs) and had a lasting effect in comparison to dividend announcements whose effect lasted until day +3. This solidifies some empirical arguments that the signaling effect of dividends has become diminishing. It was also found that when reported earnings declined in comparison to the previous period, there was an increase in trading volume, resulting in ATV. Although dividend announcements did result in abnormal returns, they were lesser than those acquired during earnings announcements which refutes a number of theoretical and empirical arguments that found dividends to be more informative than earnings announcements. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dividend%20signaling" title="dividend signaling">dividend signaling</a>, <a href="https://publications.waset.org/abstracts/search?q=event%20study%20methodology" title=" event study methodology"> event study methodology</a>, <a href="https://publications.waset.org/abstracts/search?q=information%20content%20of%20earnings" title=" information content of earnings"> information content of earnings</a>, <a href="https://publications.waset.org/abstracts/search?q=signaling%20theory" title=" signaling theory"> signaling theory</a> </p> <a href="https://publications.waset.org/abstracts/134548/signaling-theory-an-investigation-on-the-informativeness-of-dividends-and-earnings-announcements" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/134548.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">172</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">28</span> Demographic Dividend Explained by Infrastructure Costs of Population Growth Rate, Distinct from Age Dependency</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jane%20N.%20O%27Sullivan">Jane N. O'Sullivan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Although it is widely believed that fertility decline has benefitted economic advancement, particularly in East and South-East Asian countries, the causal mechanisms for this stimulus are contested. Since the turn of this century, demographic dividend theory has been increasingly recognised, hypothesising that higher proportions of working-age people can contribute to economic expansion if conditions are met to employ them productively. Population growth rate, as a systemic condition distinct from age composition, has not been similar attention since the 1970s and has lacked methodology for quantitative assessment. This paper explores conceptual and empirical quantification of the burden of expanding physical capital to accommodate a growing population. In proof-of-concept analyses of Australia and the United Kingdom, actual expenditure on gross fixed capital formation was compiled over four decades and apportioned to maintenance/turnover or expansion to accommodate population growth, based on lifespan of capital assets and population growth rate. In both countries, capital expansion was estimated to cost 6.5-7.0% of GDP per 1% population growth rate. This opportunity cost impedes the improvement of per capita capacity needed to realise the potential of the working-age population. Economic modelling of demographic scenarios have to date omitted this channel of influence; the implications of its inclusion are discussed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=age%20dependency" title="age dependency">age dependency</a>, <a href="https://publications.waset.org/abstracts/search?q=demographic%20dividend" title=" demographic dividend"> demographic dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=infrastructure" title=" infrastructure"> infrastructure</a>, <a href="https://publications.waset.org/abstracts/search?q=population%20growth%20rate" title=" population growth rate"> population growth rate</a> </p> <a href="https://publications.waset.org/abstracts/106742/demographic-dividend-explained-by-infrastructure-costs-of-population-growth-rate-distinct-from-age-dependency" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/106742.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">143</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">27</span> Dividend Policy, Overconfidence and Moral Hazard</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Richard%20Fairchild">Richard Fairchild</a>, <a href="https://publications.waset.org/abstracts/search?q=Abdullah%20Al-Ghazali"> Abdullah Al-Ghazali</a>, <a href="https://publications.waset.org/abstracts/search?q=Yilmaz%20Guney"> Yilmaz Guney</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This study analyses the relationship between managerial overconfidence, dividends, and firm value by developing theoretical models that examine the condition under which managerial overconfident, dividends, and firm value may be positive or negative. Furthermore, the models incorporate moral hazard, in terms of managerial effort shirking, and the potential for the manager to choose negative NPV projects, due to private benefits. Our models demonstrate that overconfidence can lead to higher dividends (when the manager is overconfident about his current ability) or lower dividends (when the manager is overconfident about his future ability). The models also demonstrate that higher overconfidence may result in an increase or a decrease in firm value. Numerical examples are illustrated for both models which interestingly support the models’ propositions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=behavioural%20corporate%20finance" title="behavioural corporate finance">behavioural corporate finance</a>, <a href="https://publications.waset.org/abstracts/search?q=dividend%20policy" title=" dividend policy"> dividend policy</a>, <a href="https://publications.waset.org/abstracts/search?q=overconfidence" title=" overconfidence"> overconfidence</a>, <a href="https://publications.waset.org/abstracts/search?q=moral%20hazard" title=" moral hazard"> moral hazard</a> </p> <a href="https://publications.waset.org/abstracts/33668/dividend-policy-overconfidence-and-moral-hazard" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/33668.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">339</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">26</span> The Impact of Corporate Governance Attributes on Dividends Payouts Policy: Evidence from the Emerging Capital Market of Jordan </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Amneh%20Alkurdi">Amneh Alkurdi</a>, <a href="https://publications.waset.org/abstracts/search?q=Yasean%20Tahat"> Yasean Tahat</a>, <a href="https://publications.waset.org/abstracts/search?q=Hamzeh%20Almuali"> Hamzeh Almuali</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Purpose: The primary objective of the present paper is to examine the impact of CG attributes, including the board size, independency, separation and managerial ownership) on firm dividend payouts policy; using a sample of 72 Jordanian listed companies for the period of 2007-2013. Methodology: The study does manually review the sample firm’s annual reports for data collection and use OLS regression to carry out this investigation. Findings: The findings indicate that CG attributes have a strong impact on dividend payouts policy. In particular, board size, independency and separation have had significant associations with dividends payouts indicating that such variables matter when determining on dividends which may mitigate the conflicts between stakeholders’ and managers’ interests. The results also indicate that managerial ownership has had no significant impact on the dividends policy suggesting that managers do not use the strength of their position to influence the dividends policy. Finally, the results show that firm size and profitability have had statistically positive associations with dividend payouts, while this was not the case for firm leverage and growth where significant and positive relationships were documented. Originality/implication: The current paper extends the extant literature in this field by investigating the impact of the board composition on dividends and provides some insights for policy makers in emerging markets. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=corporate%20governance" title="corporate governance">corporate governance</a>, <a href="https://publications.waset.org/abstracts/search?q=dividends%20payouts%20policy" title=" dividends payouts policy"> dividends payouts policy</a>, <a href="https://publications.waset.org/abstracts/search?q=jordan" title=" jordan"> jordan</a>, <a href="https://publications.waset.org/abstracts/search?q=accounting" title=" accounting"> accounting</a> </p> <a href="https://publications.waset.org/abstracts/83673/the-impact-of-corporate-governance-attributes-on-dividends-payouts-policy-evidence-from-the-emerging-capital-market-of-jordan" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/83673.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">192</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">25</span> Economical Dependency Evolution and Complexity</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=All%C3%A9%20Dieng">Allé Dieng</a>, <a href="https://publications.waset.org/abstracts/search?q=Mamadou%20Bousso"> Mamadou Bousso</a>, <a href="https://publications.waset.org/abstracts/search?q=Latif%20Dramani"> Latif Dramani</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The purpose of this work is to show the complexity behind economical interrelations in a country and provide a linear dynamic model of economical dependency evolution in a country. The model is based on National Transfer Account which is one of the most robust methodology developed in order to measure a level of demographic dividend captured in a country. It is built upon three major factors: demography, economical dependency and migration. The established mathematical model has been simulated using Netlogo software. The innovation of this study is in describing economical dependency as a complex system and simulating using mathematical equation the evolution of the two populations: the economical dependent and the non-economical dependent as defined in the National Transfer Account methodology. It also allows us to see the interactions and behaviors of both populations. The model can track individual characteristics and look at the effect of birth and death rates on the evolution of these two populations. The developed model is useful to understand how demographic and economic phenomenon are related <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ABM" title="ABM">ABM</a>, <a href="https://publications.waset.org/abstracts/search?q=demographic%20dividend" title=" demographic dividend"> demographic dividend</a>, <a href="https://publications.waset.org/abstracts/search?q=National%20Transfer%20Accounts%20%28NTA%29" title=" National Transfer Accounts (NTA)"> National Transfer Accounts (NTA)</a>, <a href="https://publications.waset.org/abstracts/search?q=ODE" title=" ODE"> ODE</a> </p> <a href="https://publications.waset.org/abstracts/102365/economical-dependency-evolution-and-complexity" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/102365.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">205</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">24</span> Conditional Relation between Migration, Demographic Shift and Human Development in India</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Rakesh%20Mishra">Rakesh Mishra</a>, <a href="https://publications.waset.org/abstracts/search?q=Rajni%20Singh"> Rajni Singh</a>, <a href="https://publications.waset.org/abstracts/search?q=Mukunda%20Upadhyay"> Mukunda Upadhyay</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Since the last few decades, the prima facie of development has shifted towards the working population in India. There has been a paradigm shift in the development approach with the realization that the present demographic dividend has to be harnessed for sustainable development. Rapid urbanization and improved socioeconomic characteristics experienced within its territory has catalyzed various forms of migration into it, resulting in massive transference of workforce between its states. Workforce in any country plays a very crucial role in deciding development of both the places, from where they have out-migrated and the place they are residing currently. In India, people are found to be migrating from relatively less developed states to a well urbanized and developed state for satisfying their neediness. Linking migration to HDI at place of destination, the regression coefficient (β ̂) shows affirmative association between them, because higher the HDI of the place would be, higher would be chance of earning and hence likeliness of the migrants would be more to choose that place as a new destination and vice versa. So the push factor is compromised by the cost of rearing and provides negative impulse on the in migrants letting down their numbers to metro cities or megacities of the states but increasing their mobility to the suburban areas and vice versa. The main objective of the study is to check the role of migration in deciding the dividend of the place of destination as well as people at the place of their usual residence with special focus to highly urban states in India. Idealized scenario of Indian migrants refers to some new theories in making. On analyzing the demographic dividend of the places we got to know that Uttar Pradesh provides maximum dividend to Maharashtra, West Bengal and Delhi, and the demographic divided of migrants are quite comparable to the native’s shares in the demographic dividend in these places. On analyzing the data from National Sample Survey 64th round and Census of India-2001, we have observed that for males in rural areas, the share of unemployed person declined by 9 percentage points (from 45% before migration to 36 % after migration) and for females in rural areas the decline was nearly 12 percentage points (from 79% before migration to 67% after migration. It has been observed that the shares of unemployed males in both rural and urban areas, which were significant before migration, got reduced after migration while the share of unemployed females in the rural as well as in the urban areas remained almost negligible both for before and after migration. So increase in the number of employed after migration provides an indication of changes in the associated cofactors like health and education of the place of destination and arithmetically to the place from where they have migrated out. This paper presents the evidence on the patterns of prevailing migration dynamics and corresponding demographic benefits in India and its states, examines trends and effects, and discusses plausible explanations. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=migration" title="migration">migration</a>, <a href="https://publications.waset.org/abstracts/search?q=demographic%20shift" title=" demographic shift"> demographic shift</a>, <a href="https://publications.waset.org/abstracts/search?q=human%20development%20index" title=" human development index"> human development index</a>, <a href="https://publications.waset.org/abstracts/search?q=multilevel%20analysis" title=" multilevel analysis"> multilevel analysis</a> </p> <a href="https://publications.waset.org/abstracts/35541/conditional-relation-between-migration-demographic-shift-and-human-development-in-india" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35541.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">388</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">23</span> Economics of Conflict: Core Economic Dimensions of the Georgian-South Ossetian Context</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=V.%20Charaia">V. Charaia </a> </p> <p class="card-text"><strong>Abstract:</strong></p> This article presents SWOT analysis for Georgian - South Ossetian conflict. The research analyzes socio-economic aspects and considers future prospects for all sides including neighbor countries and regions. Also it includes the possibilities of positive intervention of neighbor countries to solve the conflict or to mitigate its negative results. The main question of the article is: What will it take to award Georgians and South Ossetians with a peace dividend? <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=conflict%20economics" title="conflict economics">conflict economics</a>, <a href="https://publications.waset.org/abstracts/search?q=investments" title=" investments"> investments</a>, <a href="https://publications.waset.org/abstracts/search?q=trade" title=" trade"> trade</a>, <a href="https://publications.waset.org/abstracts/search?q=remittances" title=" remittances"> remittances</a> </p> <a href="https://publications.waset.org/abstracts/55987/economics-of-conflict-core-economic-dimensions-of-the-georgian-south-ossetian-context" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/55987.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">235</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=dividend%20payout&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=dividend%20payout&page=2" rel="next">&rsaquo;</a></li> </ul> </div> </main> <footer> <div id="infolinks" class="pt-3 pb-2"> <div class="container"> <div style="background-color:#f5f5f5;" class="p-3"> <div class="row"> <div class="col-md-2"> <ul class="list-unstyled"> About <li><a href="https://waset.org/page/support">About Us</a></li> <li><a href="https://waset.org/page/support#legal-information">Legal</a></li> <li><a target="_blank" rel="nofollow" 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