TY  - JOUR
AB  - This paper examines the determinants of corporate dividend policy in Jordan. The study uses a firm‐level panel data set of all publicly traded firms on the Amman Stock Exchange between 1989 and 2000. The study develops eight research hypotheses, which are used to represent the main theories of corporate dividends. A general‐to‐specific modeling approach is used to choose between the competing hypotheses. The study examines the determinants of the amount of dividends using Tobit specifications. The results suggest that the proportion of stocks held by insiders and state ownership significantly affect the amount of dividends paid. Size, age, and profitability of the firm seem to be determinant factors of corporate dividend policy in Jordan. The findings provide strong support for the agency costs hypothesis and are broadly consistent with the pecking order hypothesis. The results provide no support for the signaling hypothesis.
VL  - 23
IS  - 2
SN  - 1026-4116
DO  - 10.1108/10264116200700007
UR  - https://doi.org/10.1108/10264116200700007
AU  - Nizar Al‐Malkawi Husam‐Aldin
PY  - 2007
Y1  - 2007/01/01
TI  - Determinants of Corporate Dividend Policy in Jordan: An Application of the Tobit Model
T2  - Journal of Economic and Administrative Sciences
PB  - Emerald Group Publishing Limited
SP  - 44
EP  - 70
Y2  - 2024/04/19
ER  -