ICARE 2018

Permanent URI for this collectionhttp://repository.kln.ac.lk/handle/123456789/19607

Browse

Filter results by typing the first few letters
Now showing 1 - 3 of 3
  • Thumbnail Image
    Item
    The Effect of Dividend Payment and Retained Earnings on Market Price of Equity Shares: A Study of Manufacturing Companies in Sri Lanka
    (4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Girihagama, T.D.K.; Abeywardhana, D.K.Y.
    Price of publicly trading share is determined by supply and demand in the share market. If there is a high demand for a share due to favorable factors, the price would increase. It is important to identify that factors which have significant effect on share price. According to previous researchers; such factors that have effect on share price could be either firm specific internal factors such as; retained earnings, dividend, size of the firm etc. or external factors such as; interest rate, government regulations, foreign exchange rate etc. This study is an attempt to identify the effect of two internal factors: dividend payment and retained earnings on share price. The study has been carried out for period of 10 years (2008-2018) with a focus on 35 manufacturing companies listed in Colombo Stock Exchange. The relationship between share price and two main variables were examined by multiple regression model. The primary regression model was expanded by adding control variables: firm size, earning per share (EPS) and dividend yield. The findings of this study shows that dividend payment and retained earnings have a significant impact on share price. It also revealed that DPS and EPS are having a significant positive relationship with share price while dividend yield and retained earnings are having significant negative relationship with share price. Size of the firm shows insignificant effect on share price
  • Thumbnail Image
    Item
    The Impact of Dividend Policy on Shareholders’ Wealth and Business Performance of Listed Manufacturing Companies in Sri Lanka
    (4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Dilshani, L.D.C.; Abeywardhana, D.K.Y.
    The dividend policy plays a major role in current business as most important financial policy not only from the viewpoint of the company, but also from that of the shareholders, the consumers, employees, regulatory bodies and the Government. The study aims to identify how the dividend policy influences to the shareholders ‘wealth and the business performance of listed manufacturing companies in Sri Lanka. Dividend per share (DPS) and Dividend payout (DPO) were used as Dividend policy indicators while Return on Equity (ROE) used as business performance indicator and earning per share (EPS) and Market share price (MSP) used as shareholders’ wealth indicator. The study used secondary data of 41 manufacturing companies covering the period of 2012 to 2017. Data were analyzed using regression analysis and EViews package.The result reveals that dividend policy has positively significance impact on shareholders’ wealth and the business performance of listed manufacturing companies in Sri Lanka
  • Thumbnail Image
    Item
    The Impact of Dividend Policy on Shareholders’ Wealth and Business Performance of Listed Manufacturing Companies in Sri Lanka
    (4th International Conference for Accounting Researchers and Educators, Department of Accountancy, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2018) Dilshani, L.D.C.; Abeywardhana, D.K.Y.
    The Dividend policy play a major role in current business as most important financial policy not only from the viewpoint of the company, but also from that of the shareholders, the consumers, employees, regulatory bodies and the government. The study aims to identify how the dividend policy influences the shareholders ‘wealth and the business performance of listed manufacturing companies in Sri Lanka. Dividend per share (DPS) and Dividend yield (DY) use as Dividend policy indicators while Return on Equity (ROE) use as business performance indicator and earning per share (EPS) and Market share price (MSP) use as shareholders’ wealth indicator. The study use secondary data of 30 manufacturing companies covering the period of 2012 to 2017. Data analyze using regression analysis. The result reveals that dividend policy has significant positive impact on shareholders’ wealth and the business performance of listed manufacturing companies in Sri Lanka. The previous empirical studies provide evidences that dividend policy has significant positive impact on shareholders’ wealth and the business performance