The relationship between dividend policy and bank size: Evidence from Jordan

Pakistan’s capital market and economy have significant features for examining the dynamics of the dividend policy. The agency conflicts between the management and the investors of the firms are main barriers to the success of the firm. The shareholder is generally taking away all the rights and similarly has a control on the decision concerning the dividend policy. The dividends are conveying better information than any other source regarding the firm’s prospects. The aim of this research is to identify and analyze the influence of shareholder preference and dividend signaling on the dividend policy of the corporations in Pakistan. The respective study presents the analysis of top financial management beliefs by taking eighty listed corporations on Pakistani stock exchanges during 2017–2018. Pearson correlation and multiple regressions are applied on responses to explore whether there is an influence regarding the shareholder preferences and the signaling mechanism on the dividend policy of the listed firms in Pakistan. Through statistical techniques the findings proved that shareholder preferences and dividend signaling have a positive and significant relationship with the dividend policy of listed corporations. Dividend policy is the response of investor preferences and signaling aspect of dividends.

Making intellectual capital the strategic resource of an innovation-oriented organization under post-industrial economy formation requires improving the decision-making quality while choosing its development strategies. To a large extent, the effectiveness of strategic intellectual capital management depends on its methodological principles development, which determines the relevance of the subject chosen.
The purpose of the article is to form a methodical tool for substantiating the strategies of intellectual capital development in a research organization based on multi-criteria analysis.
As a methodological platform, the following methods for conducting research were chosen: an aggregated structural approach, in particular, the method of audit-evaluation by Brooking, to evaluate intellectual capital; SWOT analysis – to determine the strategic position of the company regarding its intellectual capital. To confirm the expert opinions consistency within the empirical studies framework, the concordance coefficient, estimated on the Pearson criterion, was calculated. The key to research is the multi-criteria analysis (SAW, TOPSIS, COPRAS) methods for evaluating, ranking and selecting strategic alternatives for the intellectual capital development of the research company.
Thus, the article takes a new view of using the scenario approach to the formation of an intellectual capital strategy. The strategy development stages are outlined, and the peculiarities of their methodological support are determined. In particular, the necessity to include into the test program for intellectual capital the estimation of its management efficiency is proved. The authors present an example of adapting SAW, TOPSIS, COPRAS methods for the evaluation and ranking of strategic alternatives to human, structural and market capital development.
Consequently, the results allowed to mathematically formalize the rating task and to form the optimal strategies portfolio of human, structural, market capital of organization, as well as to combine factors of the internal and external environment. Thus, the suggested methodological approach can be used by the heads of research organizations to develop and substantiate strategic management decisions to optimize their intellectual capital development.

Private equity (PE) stands out significantly in the world as one of the main development tools of the capital market in emerging economies and alternative sources of finance for companies. Particularly, the increase in fund value and continuous returns are objects of intense study in Brazil. The paper aims to find determinants to Brazilian private equity returns, regarding three relevant variables funds characteristics and GDP to a macroeconomic view. A sample of 1,112 PE funds registered at the Brazilian Securities and Exchange Commission (CVM) was used and analyzed by three main variables: period of establishment, equity size, and exclusivity as possible determinants of funds’ performance using multiple regression model and fourth variable GDP is applied as a descriptive variable. The results indicate that older funds had a return premium of 1.5% monthly over young funds, smaller funds had a return premium of 1.4% over larger funds, and exclusivity does not influence the funds’ performance. Thus, the paper provides a basis for the relevant factors that an investor should verify in Brazil’s private equity fund before allocating the resources.