Yazar "Khan, Ajab" seçeneğine göre listele

Listeleniyor 1 - 6 / 6
  • Küçük Resim
    Yayın
    Does board demographic diversity affect the dividend payout policy in Turkey?
    (Emerald Publishing, 2022) Yılmaz, Mustafa Kemal; Khan, Ajab; Aksoy, Mine; Yönetim Bilimleri Fakültesi, İşletme Bölümü
    Purpose – The purpose of this study is to investigate the impact of board demographic diversity on the dividend payout policy in Turkish capital markets. Design/methodology/approach –Using a sample of 67 non-financial companies listed on Borsa Istanbul 100 index from 2013 to 2018, this study examines the influence of board demographic diversity on dividend payout policies in Turkish capital markets. The authors also create a Demographic Board Diversity Index (DBDI) to estimate the composite cognitive diversity. The authors use dividend payment probability, dividend payout ratio, and dividend yield to measure the dividend policy and employ panel logit and tobit regression models. Findings – The results indicate that diversity in nationality, experience and educational background play an influential role in encouraging companies to pay high dividends, while gender, tenure and age diversity are insignificant in affecting dividend payments. The findings also suggest that the DBDI positively affects the companies in formulating the dividend payout policies. Finally, the findings show that the family-owned companies with diverse board members have a negative influence on dividend payment intensity. Originality/value – The results offer valuable insights for companies and policymakers in emerging markets to develop a more refined governance structure accommodating board demographic diversity attributes to mitigate agency conflicts between controlling and minority shareholders through setting up effective dividend payout policies.
  • Küçük Resim
    Yayın
    Moderating role of corporate governance and ownership structure on the relationship of corporate sustainability performance and dividend policy
    (Taylor & Francis, 2022) Yılmaz, Mustafa Kemal; Aksoy, Mine; Khan, Ajab; Yönetim Bilimleri Fakültesi, İşletme Bölümü
    The aim of this study is to investigate the influence of corporate governance and ownership structure on the relationship of corporate sustainability performance and dividend policy by using a panel dataset of 79 non-financial companies listed on Borsa Istanbul 100 Index for the years 2014–2020. We employed the panel logit, probit and tobit regression models for the analysis. The results indicate that corporate governance and family ownership significantly and positively moderate the relationship between corporate sustainability performance and dividend policy, while concentrated ownership and institutional ownership do not play a significant moderating role on this relationship. The findings also show that firm-level corporate governance is associated with high dividend payments, suggesting that this institutional mechanism helps reduce agency problems and lead companies to allocate capital more efficiently. The findings provide valuable insights for companies in structuring sustainability activities and shaping dividend policies with regard to ownership structure. It also offers policy prescriptions in emerging markets in the area of corporate financing policies.
  • Küçük Resim
    Yayın
    Nexus between discount rate and industrial performance
    (SAGE, 2021) Khan, Ajab; Lisansüstü Eğitim Enstitüsü, İşletme Ana Bilim Dalı
    This study investigates the short-run responses and long-run performances of seven industries’ stock indices with discount rate changes in the firms listed in the Pakistan Stock Exchange (PSE) between 2009 and 2018. The results indicate that short-run returns react positively to discount rate reduction, excluding the oil industry and vice versa. Therefore, long-term performance responds favourably with a reduction in the discount rate. Discount rate changes affect the apparel industry the most, while the oil industry is the least on the list. This study serves potential investors for their returns against investment among these industries. Furthermore, it works as a guideline for regulators and policymakers to manage fluctuations for a stable capital market.
  • [ N/A ]
    Yayın
    Nexus between liquid ity risk and credit risk: Evidence from the South Asian region
    (Henry Stewart Publications, 2022) Yılmaz, Mustafa Kemal; Khan, Ajab; Yönetim Bilimleri Fakültesi, İşletme Bölümü
    This study investigates the reciprocal relationship between liquidity risk and credit risk and their individual and joint impact on the stability of commercial banks in the South Asian countries, ie Pakistan, Bangladesh and India, from 2004 to 2016. The results reveal that liquidity risk and credit risk have a significantly positive reciprocal and economically meaningful relation-ship. Each risk type individually and jointly negatively affects banking stability. This impact has been more observable during the global financial crisis. The findings provide valuable insights for bank managers and regulatory authorities. Banks should be more concerned about mitigating their liquidity and credit risks by managing more qualified loan port folios and investing in less risky liquid assets.
  • Küçük Resim
    Yayın
    Ownership structure, board characteristics and dividend policy: Evidence from Turkey
    (Emerald Publishing, 2021) Khan, Ajab; Lisansüstü Eğitim Enstitüsü, İşletme Ana Bilim Dalı
    Purpose This study aims to investigate the impact of ownership structure and board characteristics on dividend policy in the listed Turkish firms between 2013 and 2019. Design/methodology/approach This study uses the probability of paying dividends, dividend payout ratio and dividend yield measures. The suitable regression procedures (logit, probit and Tobit models) are used to examine the research hypotheses by focusing on a panel data set drawn from the Borsa Istanbul (BIST) 100 index, excluding financial and utility firms. Findings The empirical findings indicate that institutional and concentrated ownerships are significant and positively associated with dividend payouts, whereas family ownership does not influence dividend policy. On the other end, board size is positive, while chief executive officer duality is negatively related to dividend policy. Additionally, the female directors and board independence are insignificant in influencing firms to pay high dividends. Research limitations/implications Future researchers can validate this paper's findings by considering the stock dividends as well. Additionally, future researchers may investigate the relationship between these constructs by extending the sample size of firms listed on BIST or in other emerging markets. Practical implications This study's findings may serve policymakers, regulators, investors and academic researchers to get valuable guidance from relevant literature. The Turkish firms may improve dividend policy by implementing the regulatory framework introduced by the Capital Markets Law in 2012 for effective monitoring and protecting the minority shareholders' rights. The controlling shareholders may alleviate principal-principal conflicts by ensuring the independence of directors and increasing the number of female directors according to the critical mass of at least 30% of board members. Originality/value This study contributes to agency theory and signaling theory by considering ownership structure and board attributes among Turkish firms related to dividend payments.
  • Küçük Resim
    Yayın
    The relationship between demographic board diversity and dividend policy: Empirical evidence from Turkey
    (İbn Haldun Üniversitesi, Lisansüstü Eğitim Enstitüsü, 2021) Khan, Ajab; Yılmaz, Mustafa Kemal
    This study investigates the impact of demographic board diversity attributes, i.e., gender, nationality, experience, educational level, tenure, and age, on dividend policy of 67 non-financial companies listed on Borsa Istanbul 100 index from 2013 to 2018. It also assumes the composite of all diversity attributes to create a demographic board diversity index (DBDI) for cognitive diversity. The study uses alternative dividend policy measures to conduct the analysis, i.e., the probability of paying dividends, dividend payout, and dividend yield through logit, probit, and Tobit regression models. The findings indicate that diversity in experience, educational background, and tenure among the board members play a critical role in encouraging companies to pay a high dividend. In contrast, diversity in gender, nationality, and age is insignificant in influencing dividend payments. Furthermore, the DBDI positively affects the companies in formulating their dividend policies. These results offer valuable insights for companies and policymakers to develop a governance structure accommodating demographic board diversity attributes among board members to mitigate conflicts between controlling and minority shareholders through effective dividend policies and sustainable corporate performance.