Publication:

Dividend payout policy of Shariah compliant firms: evidence from United States

Show simple item record
DC FieldValue
dc.contributor.authorZaheer Anwer
dc.contributor.authorAndrea Paltrinieri
dc.contributor.authorM. Kabir Hassan
dc.contributor.authorShamsher Mohamad Ramadili Mohd
dc.date.accessioned2022-05-29T10:08:03Z
dc.date.available2022-05-29T10:08:03Z
dc.date.issued2021
dc.description.abstractThis paper investigates the effects of religious screening on payout behavior of US firms. Shariah compliant (SC) indices serve as suitable sample as they are emerging as alternative investment class in the last two decades. Through an analysis of a sample of US firms belonging to Dow Jones proprietary database for the period 2006-2018, this study provides evidence that SC firms are more prone to make total payout, cash dividends and repurchases. We use panel logistic regressions with industry and year fixed effects. The findings reveal that the drivers of higher propensity of total payout are higher profitability, higher retained earnings, lower debt capital structure and lower asset growth. The factors that contribute to likelihood of paying higher cash dividends are higher profitability, lower governance levels and lower market/book assets ratio. Moreover, better governance, lower asset growth and lower equity/assets increase the propensity of SC firms to make higher repurchases. These findings are important contribution to the Islamic corporate finance and dividend policy literature.en_US
dc.identifier.citationAnwer, Z., Ramadili Mohd, S. M., Paltrinieri, A., & Hassan, M. K. (2021). Dividend payout policy of Shariah compliant firms: evidence from United States. Pacific-Basin Finance Journal, 69. https://doi.org/10.1016/j.pacfin.2020.101422en_US
dc.identifier.doihttps://doi.org/10.1016/j.pacfin.2020.101422
dc.identifier.issn0927-538X
dc.identifier.urihttps://ikr.inceif.org/handle/INCEIF/3582
dc.languageEnglish
dc.language.isoengen_US
dc.publisherElsevier B.V.en_US
dc.rights2020. Elsevier B.V.
dc.sourceSEDONA
dc.subjectDividend policyen_US
dc.subjectIslamic financeen_US
dc.subjectStock screeningen_US
dc.subjectPortfolio managementen_US
dc.subjectShariah compliant firmsen_US
dc.titleDividend payout policy of Shariah compliant firms: evidence from United Statesen_US
dc.typeJournal Articleen_US
dlc.maintopicIslamic capital marketsen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic capital marketsen_US
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication33b91dde-0170-454c-8f2b-ec4b208837b9
relation.isAuthorOfPublication.latestForDiscovery33b91dde-0170-454c-8f2b-ec4b208837b9
Appears in Collections
Journal Article
Files

Abstract View

2654012

View & Download

168396