Does dividend affect firm value in emerging market?: evidence from Malaysian firms

This study examines the relationship between dividend and firm value in Malaysian firms. The study uses pooled Ordinary Least Square, panel fixed, and random effect to examine the model. Using a sample from 659 firms across Malaysia from 2005 to 2019, the results reveal that dividend has a positive relationship with firm value proxy by Tobin’s Q. Moreover, the results are robust even after controlling for endogeneity concerns regarding omitted variables bias