Title:
THE EFFECTS OF DIVIDEND POLICY ON COMPANY VALUE: EVIDENCE FROM TANZANIA, MULTILEVEL MODELLING APPROACH

Authors:
Gwahula Raphael (Ph.D)

Abstract:
The study investigated the controversy created by researchers and theoreticians about the effect of dividend policy on company value using multilevel approach. Regressing market share price as a measure of company value and dividend pay-out as a measure of dividend policy resulted a positive insignificant effect using data from Dar es Salaam stock exchange for the period of 2013 to 2017. Further investigation suggests that retained earnings has almost no effect on the market share price while return on assets, size, and debt to equity ratio has positive insignificant effects on company value