Tobit Regression Model to Determine the Dividend Yield in Iraq
In the model of linear regression, the values of variables are known. The sample is limited by censoring limited restriction point where the approved variable is (Threshold point). Censoring occurs at the observation of the independent variables for the entire sample and the censored regression model is considered adequate when the data has to be censored from left at censored point equal to zero. After this, the Tobit regression model can be applied. In this paper we will identify the determinants of the Distribution of Profits between some competing companies on the Iraq Stock Exchange. The profit distribution in the shareholding companies determines the profits which are distributed to the shareholders and the part that is held. The retained profits are a major source of investment in the companies. Although expansion is desirable, profit distribution is as well. The study examines the determinants of the dividend yield, by using the Tobit regression model. The study will use a data set for some companies that traded on the Iraqi Stock Exchange between 2005 and 2015.The results of the analysis of tables use data on Market capitalization, Earnings per share, Market price to book value ratio and debt-equity ratio affect the distribution of profits paid, in some companies traded by Iraq Stock Exchange.
 Arne H. Estimating Censored Regression Models in R using the censReg Package. R package version 5.05. University of Copenhagen. 2013
 Denis D. J., & Osobov, I. Why do firms pay dividends? International evidence on the determinants of dividend policy. Journal of Financial Economics, 2008. 89(1). pp. 62–82
 Greene W. Econometric analysis. Book. New York University. Seventh Edition. 2007
 Gill A., Biger N., Mand, H. S., & Shah, C. Corporate governance and capital structure of small business service firms in India. International Journal of Economics and Finance, 2012. 4(8). pp. 83–92
 ***. Iraqi Stock Exchange the Directorate General of Statistics and Research, Annual Bulletin. 2005-2015
 Pandey I. M.. Corporate dividend policy and behaviour: The Malaysian evidence. Asian Academy of Management Journal. 2013. 8(1), pp. 17–32
 Renneboog L., & Szilagyi, P. G. Corporate restructuring and bondholder wealth. European Financial Management. 2008. 14(4). pp. 792–819
 Tobin J. "Estimation of Relationships for limited dependent Variables ", in Econometrica. 1958 January 26. pp. 24-36
 Lee H. W., & Ryan P. A. Dividends and earnings revisited: Cause or effect?’ American Business Review, 2002. 20(1). pp. 117–122
Copyright (c) 2018 LUMEN Proceedings
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Selection and peer-review under responsibility of the Organizing Committee of the conference.
This is an Open Access article distributed under the terms of the Creative Commons Attribution-Noncommercial 4.0 Unported License, permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited