Purpose - The purpose of this paper is to contribute to empirical evidence by recognizing the importance of stock markets in the financial system and consequently its causality to economic growth and vice versa. Design/methodology/approach - The study used the autoregressive distribute lag model...

The relationship between financial leverage and dividend pay-out is very crucial to support the stock market development. The most of the literatures concentrated on the relationship between equity and dividend payout. This study aims to investigate the connection between financial leverage and...