JOURNAL PAPER

Examining Volatility in Bank Stock Prices: A Comparative Exploration of Dividend Policies, Macroeconomic Influences, and Company-Specific Factors, Jahangirnagar University Journal of Business Research (JUJBR, Vol. 23, No. 02, December, 2023, pp.123-146, 2023. doi: https://doi.org/10.53461/jujbr.v23i2

This study aims to ascertain and compare factors influencing stock price volatility in terms of dividend policy,  macroeconomic and company specific aspects for selected subset of listed banks in Bangladesh. Eleven years of secondary data (from 2011 to 2021) for fifteen commercial banks (representing 61.5% market capitalization of the banking sector) was acquired  from  diverse  sources.  The  dependent  variable  chosen  is  stock price  volatility,  whereas  the  dividend  policy  is  initially  represented  by dividend payout ratio (PRt & PRt-1), dividend yield (DYt & DYt-1). Several firm  and  country-specific  macroeconomic  indicators  are  used  as  control variables. A methodical approach followed by panel data analysis has been employed to   identify   a   suitable   model   that   can   yield   more   accurate estimators.  Consequently,  some  diagnostic  tests  are  also  performed  to account    for    diagnosed    problems:    contemporaneous    cross-sectional correlation,  group-wise  heteroskedasticity  and  autocorrelation; Driscoll-Kraay  standard  error  regression  model  is  finally  applied.  The  study  not only  found  significant  negative  impact  of  dividend  payout  ratio  but  also spotted a significant influence of inflation, EPS, and firm size on stock price volatility.  Price  volatility  influenced  by “No  dividend  policy”  can  be reinvestigated   from   the   aspect   of   behavioral   finance   in   the   future. Furthermore, this study also sheds light on to what extent firm-specific and macroeconomic  influence  impact  stock  price  volatility  in  Bangladesh's banking sector.

The Relationship between CEO Compensation and Firm Performance in the Banking Sector of Bangladesh, 13, 1, pp.20-43, 2017.

To study the pay-performance relationship, 24 commercial banks listed with DSE have been selected for 2004-15. Total annual compensation paid to CEO represents the CEO compensation (CEOCOM) and return on assets (ROA), net interest margin (NIM), capital adequacy ratio (CAR), loandeposit ratio (LDR), classified loan ratio (CLR), and price per share (PPS) are used as the performance indicators. CEOCOM has shown an increasing trend over the years with average YOY growth of 12.92% and CAGR of 12.73%. A strong positive correlation of CAR and a strong negative correlation of PPS are observed with CEOCOM. Besides, ROA, NIM, and LDR have a weak positive and CLR have a weak negative correlation with CEOCOM. Regression result shows a strong correlation and high explanatory power of the independent variables against CEOCOM. The model is also found statistically significant and free of multicollinearity. In addition, ROA, CLR, and PPS have shown negative and NIM, CAR and LDR have illustrated positive coefficients with CEOCOM. Except LDR (significant at 86.1%), all the variables are significant at 95% confidence level. Therefore, this research concludes a significant relationship between CEO compensation and firm performance.

Financing and Developing the Agricultural Sector Through Cash Waqf: An Analysis of Cash Waqf Using the Mudarabah Approach, South East Asia Journal of Contemporary Business, Economics and Law, 6, 1, 2014.

This research examines the viability of using cash waqf to develop the agricultural (poultry) sector based on a mudarabah approach. Collecting data for this research consisted of distributing questionnaires to 125 respondents in the International Islamic University Malaysia IIUM. Demographic and descriptive analyses (using Crosstabs) were used to analyse the collected data. The study found that the majority of respondents were aware of the meaning and use of cash waqf. According to the results, the majority of respondents support the incorporation of cash waqf into a mudarabah contract in order to provide employment opportunities for the needy. Furthermore, they support the use of cash waqf in the development of waqf land.

Relationship between Islamic stock prices and macroeconomic variables: Evidence from Jakarta stock exchange Islamic index, Global Review of Islamic Economics and Business, 1, 1, 2015.

This paper attempts to analyze the relationship between Jakarta Stock Exchange Islamic Index (JII) and selected macroeconomic variables namely exchange rate, industrial production, inflation rate, and money supply.

Identifying Financial distress firms: a case study of Malaysia’s government linked companies (GLC), International Journal of Economics, Finance and Management , 3, 3, 2014.

The unhealthy financial state can be a massive and can cause long term distress which can result to restrictions of investments activities, capital flows and performance of firms. Thus it is vital for organizations to identify the reasoning that may lead to a corporate failure and take measures accordingly to refrain from such condition. Thus, this present study addresses the financial distress measurement among 30 GLC’s listed companies in Bursa Malaysia over the period of five years (2008 until 2012). This paper asses the financial distress determinant measured by Z score statistics model. Further on, determinant such as current ratio and debt ratio were identified. Results show that there is significant relationship between both variables and Z–Scores that determine financial distressed of the GLC.

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CONFERENCE PAPER

The Role of Financial Services Authority in Enhancing Islamic Capital Market: A Case Study on Malaysia Islamic Capital Market , 7th International Workshops, Bulletin of Monetary Economic and Banking, Bank Indonesia.,
Relationship between Islamic Stock Prices and Macroeconomic Variables; Evidence from Jakarta Stock Exchange Islamic Index , Malaysia-Indonesia International Conference on Economics, Management and Accounting (MIICEMA), ASEAN ECONOMIC COMMUNITY 2015: Issues & Challenges, Indonesia,

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