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Title Investigation Relationship between Dividend Policy and Stock Prices: An Analysis of Pakistani Banking Sector

Author(s) Muhammad Iqbal

Abstract ABSTRACT Title: Effect of Financial Reporting Quality on Investment Efficiency: Evidence from Listed Textile Sector Firms on Pakistan Stock Exchange. This study examines the effect of financial reporting quality on investment efficiency on the textile sector firms in Pakistan. The textile sector companies listed at Pakistan Stock Exchange were taken as population of the study. The size of the sample comprises 100 firms listed on Pakistan stock exchange were selected on the basis of Simple Random Sampling techniques. Investment efficiency was taken as dependent variable whereas financial reporting quality used as independent variable and return on assets, annual cash holding and assets tangibility taken as control variables. Panel data were used to examine the relationship of financial reporting quality with investment efficiency. The findings of this study indicated: 1) Investigations reveal that there is positive significant relationship between financial reporting quality and investment efficiency 2) Financial reporting quality can enhance investment efficiency with regard to two ways: reducing asymmetry of information between the investors and company, and therefore, reducing the financing costs, and reducing asymmetries of information between managers and investors, and therefore, reducing the monitoring costs and enhancing project selection. Keywords: Financial reporting quality, Investment efficiency, Return on assets, Cash holding, Assets tangibility.

Type Thesis/Dissertation MS

Faculty Management Sciences

Department Management Sciences

Language English

Publication Date 2018-09-05

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Rights NUML Peshawar Campus