References
- Ali, A., Jan, F. A., & Sharif, I. (2015). EFFECT OF DIVIDEND POLICY ON STOCK PRICES. Business & Management Studies: An International Journal, 3(1). https://doi.org/10.15295/bmij.v3i1.101
- Allen, D. E., & Rachim, V. S. (1996). Dividend policy and stock price volatility: Australian evidence. Applied Financial Economics, 6(2), 175–188. https://doi.org/10.1080/096031096334402
- Baker, H. K. (1998). Do Changes in Dividends Signal the Future or the Past? CFA Digest, 28(1), 45–47. https://doi.org/10.2469/dig.v28.n1.219
- Baker, H. K., Powell, G. E., & Veit, E. T. (2002). Revisiting managerial perspectives on dividend policy. Journal of Economics and Finance, 26(3), 267–283. https://doi.org/10.1007/bf02759711
- Ball, R., Brown, P., Finn, F. J., & Officer, R. R. (1979). Dividends and the Value of the Firm: Evidence from the Australian Equity Market. Australian Journal of Management, 4(1), 13–26. https://doi.org/10.1177/031289627900400102
- Baskin, J. (1989). Dividend policy and the volatility of common stocks. The Journal of Portfolio Management, 15(3), 19–25. https://doi.org/10.3905/jpm.1989.409203
- Bhattacharya, S. (1979). Imperfect Information, Dividend Policy, and “The Bird in the Hand†Fallacy. The Bell Journal of Economics, 10(1), 259–270. https://doi.org/10.2307/3003330
- Black, F., & Scholes, M. (1974). The effects of dividend yield and dividend policy on common stock prices and returns. Journal of Financial Economics, 1(1), 1–22. https://doi.org/10.1016/0304-405x(74)90006-3
- Brennan, M. (1971). A Note on Dividend Irrelevance and the Gordon Valuation Model. The Journal of Finance, 26(5), 1115. https://doi.org/10.2307/2326087
- Campbell, J. Y., & Shiller, R. J. (1988). Stock Prices, Earnings, and Expected Dividends. The Journal of Finance, 43(3), 661. https://doi.org/10.2307/2328190
- Conroy, R. M., Eades, K. M., & Harris, R. S. (2000). A Test of the Relative Pricing Effects of Dividends and Earnings: Evidence from Simultaneous Announcements in Japan. The Journal of Finance, 55(3), 1199–1227. https://doi.org/10.1111/0022-1082.00245
- DeAngelo, H., & DeAngelo, L. (2005). The Irrelevance of the MM Dividend Irrelevance Theorem. SSRN Electronic Journal , 79(2), 293−316. https://doi.org/10.2139/ssrn.680855
- Fama, E. F. (1991). Efficient Capital Markets: II. The Journal of Finance, 46(5), 1575–1617. https://doi.org/10.2307/2328565
- Fama, E. F., & French, K. R. (1988). Dividend yields and expected stock returns. Journal of Financial Economics, 22(1), 3–25. https://doi.org/10.1016/0304-405x(88)90020-7
- Friend, I., & Puckett, M. (1964). Dividends and Stock Prices. The American Economic Review, 54(5), 656–682. http://www.jstor.org/stable/1818565
- Gaver, J. J., & Gaver, K. M. (1993). Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Accounting and Economics, 16(1-3), 125–160. https://doi.org/10.1016/0165-4101(93)90007-3
- Gordon, M. J. (1963). Optimal Investment and Financing Policy. The Journal of Finance, 18(2), 264–272. https://doi.org/10.2307/2977907
- Hakansson, N. H. (1982). To Pay or Not to Pay Dividend. The Journal of Finance, 37(2), 415– 428. https://doi.org/10.2307/2327345
- Harkavy, O. (1953). The Relation between Retained Earnings and Common Stock Prices for Large, Listed Corporations. The Journal of Finance, 8(3), 283–297. https://doi.org/10.1111/j.1540-6261.1953.tb01170.x
- Ho, H. (2003). Dividend policies in Australia and Japan. International Advances in Economic Research, 9(2), 91–100. https://doi.org/10.1007/bf02295710
- Holder, M. E., Langrehr, F. W., & Hexter, J. L. (1998). Dividend Policy Determinants: An Investigation of the Influences of Stakeholder Theory. Financial Management, 27(3), 73. https://doi.org/10.2307/3666276
- Hunjra, A. I., Ijaz, M. S, Chani, M. I., Hassan, S. & Mustafa, U. (2014). Impact of Dividend Policy, Earning per Share, Return on Equity, Profit after Tax on Stock Prices. International Journal of Economics and Empirical Research, 2(3), 109-115. https://ssrn.com/abstract=3229692
- Hussain, D. (2021, July 12). Dividend or profit retention? DAWN.COM. https://www.dawn.com/news/1634625
- Hussainey, K., Mgbame, C. O., & Chijoke-Mgbame, A. M. (2011). Dividend policy and share price volatility: UK evidence. The Journal of Risk Finance, 12(1), 57–68. https://doi.org/10.1108/15265941111100076
- Imran, K. (2011). Determinants of Dividend Payout Policy: A Case of Pakistan Engineering Sector. The Romanian Economic Journal, XIV (41), 47- 60. http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2011-09-01/2069/je41imran.pdf
- Khan, K. I. (2012). Effect of Dividends on Stock Prices– A Case of Chemical and Pharmaceutical Industry of Pakistan. Management, 2(5), 141–148. https://doi.org/10.5923/j.mm.20120205.02
- Lintner, J. (1956). Distribution of Incomes of Corporations Among Dividends, Retained Earnings, and Taxes. The American Economic Review, 46(2), 97–113. http://www.jstor.org/stable/1910664
- Ohlson, J. A. (1995). Earnings, Book Values, and Dividends in Equity Valuation. Contemporary Accounting Research, 11(2), 661–687. https://doi.org/10.1111/j.1911-3846.1995.tb00461.x
- Osobov, I. V., & Denis, D. J. (2007). Why Do Firms Pay Dividends? International Evidence on the Determinants of Dividend Policy. SSRN Electronic Journal, 89(1), 62–82. https://doi.org/10.2139/ssrn.887643
- Sadka, G. (2007). Understanding Stock Price Volatility: The Role of Earnings. Journal of Accounting Research, 45(1), 199–228. https://doi.org/10.1111/j.1475-679x.2007.00230.x
- Ullah, H., Saqib, S. e, & Usman, H. (2016). The Impact of Dividend Policy on Stock Price Volatility: A Case Study of Selected Firms from Textile Industry in Pakistan. International Journal of Academic Research in Economics and Management Sciences, 4(4). https://doi.org/10.6007/ijarems/v4-i4/2033
- Ali, A., Jan, F. A., & Sharif, I. (2015). EFFECT OF DIVIDEND POLICY ON STOCK PRICES. Business & Management Studies: An International Journal, 3(1). https://doi.org/10.15295/bmij.v3i1.101
- Allen, D. E., & Rachim, V. S. (1996). Dividend policy and stock price volatility: Australian evidence. Applied Financial Economics, 6(2), 175–188. https://doi.org/10.1080/096031096334402
- Baker, H. K. (1998). Do Changes in Dividends Signal the Future or the Past? CFA Digest, 28(1), 45–47. https://doi.org/10.2469/dig.v28.n1.219
- Baker, H. K., Powell, G. E., & Veit, E. T. (2002). Revisiting managerial perspectives on dividend policy. Journal of Economics and Finance, 26(3), 267–283. https://doi.org/10.1007/bf02759711
- Ball, R., Brown, P., Finn, F. J., & Officer, R. R. (1979). Dividends and the Value of the Firm: Evidence from the Australian Equity Market. Australian Journal of Management, 4(1), 13–26. https://doi.org/10.1177/031289627900400102
- Baskin, J. (1989). Dividend policy and the volatility of common stocks. The Journal of Portfolio Management, 15(3), 19–25. https://doi.org/10.3905/jpm.1989.409203
- Bhattacharya, S. (1979). Imperfect Information, Dividend Policy, and “The Bird in the Hand†Fallacy. The Bell Journal of Economics, 10(1), 259–270. https://doi.org/10.2307/3003330
- Black, F., & Scholes, M. (1974). The effects of dividend yield and dividend policy on common stock prices and returns. Journal of Financial Economics, 1(1), 1–22. https://doi.org/10.1016/0304-405x(74)90006-3
- Brennan, M. (1971). A Note on Dividend Irrelevance and the Gordon Valuation Model. The Journal of Finance, 26(5), 1115. https://doi.org/10.2307/2326087
- Campbell, J. Y., & Shiller, R. J. (1988). Stock Prices, Earnings, and Expected Dividends. The Journal of Finance, 43(3), 661. https://doi.org/10.2307/2328190
- Conroy, R. M., Eades, K. M., & Harris, R. S. (2000). A Test of the Relative Pricing Effects of Dividends and Earnings: Evidence from Simultaneous Announcements in Japan. The Journal of Finance, 55(3), 1199–1227. https://doi.org/10.1111/0022-1082.00245
- DeAngelo, H., & DeAngelo, L. (2005). The Irrelevance of the MM Dividend Irrelevance Theorem. SSRN Electronic Journal , 79(2), 293−316. https://doi.org/10.2139/ssrn.680855
- Fama, E. F. (1991). Efficient Capital Markets: II. The Journal of Finance, 46(5), 1575–1617. https://doi.org/10.2307/2328565
- Fama, E. F., & French, K. R. (1988). Dividend yields and expected stock returns. Journal of Financial Economics, 22(1), 3–25. https://doi.org/10.1016/0304-405x(88)90020-7
- Friend, I., & Puckett, M. (1964). Dividends and Stock Prices. The American Economic Review, 54(5), 656–682. http://www.jstor.org/stable/1818565
- Gaver, J. J., & Gaver, K. M. (1993). Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies. Journal of Accounting and Economics, 16(1-3), 125–160. https://doi.org/10.1016/0165-4101(93)90007-3
- Gordon, M. J. (1963). Optimal Investment and Financing Policy. The Journal of Finance, 18(2), 264–272. https://doi.org/10.2307/2977907
- Hakansson, N. H. (1982). To Pay or Not to Pay Dividend. The Journal of Finance, 37(2), 415– 428. https://doi.org/10.2307/2327345
- Harkavy, O. (1953). The Relation between Retained Earnings and Common Stock Prices for Large, Listed Corporations. The Journal of Finance, 8(3), 283–297. https://doi.org/10.1111/j.1540-6261.1953.tb01170.x
- Ho, H. (2003). Dividend policies in Australia and Japan. International Advances in Economic Research, 9(2), 91–100. https://doi.org/10.1007/bf02295710
- Holder, M. E., Langrehr, F. W., & Hexter, J. L. (1998). Dividend Policy Determinants: An Investigation of the Influences of Stakeholder Theory. Financial Management, 27(3), 73. https://doi.org/10.2307/3666276
- Hunjra, A. I., Ijaz, M. S, Chani, M. I., Hassan, S. & Mustafa, U. (2014). Impact of Dividend Policy, Earning per Share, Return on Equity, Profit after Tax on Stock Prices. International Journal of Economics and Empirical Research, 2(3), 109-115. https://ssrn.com/abstract=3229692
- Hussain, D. (2021, July 12). Dividend or profit retention? DAWN.COM. https://www.dawn.com/news/1634625
- Hussainey, K., Mgbame, C. O., & Chijoke-Mgbame, A. M. (2011). Dividend policy and share price volatility: UK evidence. The Journal of Risk Finance, 12(1), 57–68. https://doi.org/10.1108/15265941111100076
- Imran, K. (2011). Determinants of Dividend Payout Policy: A Case of Pakistan Engineering Sector. The Romanian Economic Journal, XIV (41), 47- 60. http://www.rejournal.eu/sites/rejournal.versatech.ro/files/articole/2011-09-01/2069/je41imran.pdf
- Khan, K. I. (2012). Effect of Dividends on Stock Prices– A Case of Chemical and Pharmaceutical Industry of Pakistan. Management, 2(5), 141–148. https://doi.org/10.5923/j.mm.20120205.02
- Lintner, J. (1956). Distribution of Incomes of Corporations Among Dividends, Retained Earnings, and Taxes. The American Economic Review, 46(2), 97–113. http://www.jstor.org/stable/1910664
- Ohlson, J. A. (1995). Earnings, Book Values, and Dividends in Equity Valuation. Contemporary Accounting Research, 11(2), 661–687. https://doi.org/10.1111/j.1911-3846.1995.tb00461.x
- Osobov, I. V., & Denis, D. J. (2007). Why Do Firms Pay Dividends? International Evidence on the Determinants of Dividend Policy. SSRN Electronic Journal, 89(1), 62–82. https://doi.org/10.2139/ssrn.887643
- Sadka, G. (2007). Understanding Stock Price Volatility: The Role of Earnings. Journal of Accounting Research, 45(1), 199–228. https://doi.org/10.1111/j.1475-679x.2007.00230.x
- Ullah, H., Saqib, S. e, & Usman, H. (2016). The Impact of Dividend Policy on Stock Price Volatility: A Case Study of Selected Firms from Textile Industry in Pakistan. International Journal of Academic Research in Economics and Management Sciences, 4(4). https://doi.org/10.6007/ijarems/v4-i4/2033
Cite this article
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APA : Tahir, M., Ali, S. A., & Chiragh, S. (2023). Legal Impact of Distribution of Dividend Policy on Share Price in Pakistan. Global Legal Studies Review, VIII(I), 44-53. https://doi.org/10.31703/glsr.2023(VIII-I).05
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CHICAGO : Tahir, Muhammad, Shaista Azmat Ali, and Sehrish Chiragh. 2023. "Legal Impact of Distribution of Dividend Policy on Share Price in Pakistan." Global Legal Studies Review, VIII (I): 44-53 doi: 10.31703/glsr.2023(VIII-I).05
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HARVARD : TAHIR, M., ALI, S. A. & CHIRAGH, S. 2023. Legal Impact of Distribution of Dividend Policy on Share Price in Pakistan. Global Legal Studies Review, VIII, 44-53.
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MHRA : Tahir, Muhammad, Shaista Azmat Ali, and Sehrish Chiragh. 2023. "Legal Impact of Distribution of Dividend Policy on Share Price in Pakistan." Global Legal Studies Review, VIII: 44-53
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MLA : Tahir, Muhammad, Shaista Azmat Ali, and Sehrish Chiragh. "Legal Impact of Distribution of Dividend Policy on Share Price in Pakistan." Global Legal Studies Review, VIII.I (2023): 44-53 Print.
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OXFORD : Tahir, Muhammad, Ali, Shaista Azmat, and Chiragh, Sehrish (2023), "Legal Impact of Distribution of Dividend Policy on Share Price in Pakistan", Global Legal Studies Review, VIII (I), 44-53
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TURABIAN : Tahir, Muhammad, Shaista Azmat Ali, and Sehrish Chiragh. "Legal Impact of Distribution of Dividend Policy on Share Price in Pakistan." Global Legal Studies Review VIII, no. I (2023): 44-53. https://doi.org/10.31703/glsr.2023(VIII-I).05