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There is a significant relationship between EPS with ROE and ROA.

For PER, there is an insignificant relationship with ROE but it has a significant relationship with ROA. This means that when a firm's PER increases, there is no direct impact on ROE.

However, DPR has an insignificant relationship with ROE and ROA. This result does not align with the theory I have learned.

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Independent variables are tested to analyze the impact of earnings per share, dividend payout ratio, and price-earnings ratio on the performance of public listed companies in Malaysia.

Assumptions in this study are realistic and reasonable. In addition, on this basis, can also combine empirical and theoretical analysis and elaboration.

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The sample contains 15 manufacturing companies in the year 2014 to 2017.

Time Series Data were calculated from the financial statement of the selected manufacturing firms.

Data Analysis Techniques:

1. Multiple Regressions Analysis

2. Correlation Analysis

3. Descriptive Analysis

There are altogether 3 methods used in this paper. I think these methods can well prove that the results obtained are more reliable and understandable.

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Table 2

It shows the results of descriptive analysis.

The researcher used mean, maximum, minimum, and standard deviation check for the impact of dividend policy on firm performance.

Table 3

It shows the results of correlation analysis.

This result can verify hypothesis 1 and that there is a relationship between dividend policy and firm performance.

The results of ROA significantly correlate with the dividend payout ratio(DPOR), earning per share(EPS), and price-earnings ratio(PER).

Table 4

It shows the results of multiple regression analysis.

The results show that there is a positive relationship between return on asset, dividend payout ratio, earnings per share, and price-earnings ratio.

The result of Table 4 shows that the dividend payout ratio has a positive effect on return on assets.

- The results obtained are consistent with the theory I have learned, and the results shown are logical.

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In conclusion, I try to expand my knowledge to better understand why EPS has a strong impact on company performance.

Based on the results of this paper, I think I can get more accurate results by reading and consulting papers involving more departments and other countries.

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In conclusion, in order to obtain more detailed and accurate results, it is recommended to conduct a larger sample size and a longer period of time.

I think I need to review more research articles with analyses across different sectors and countries. In addition, I think I need to learn more about this and other things and be aware of other possibilities.

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The writing in the paper on a scale of 5(great). This is because the whole process of this paper is very neat and logical, so it is easy to understand when reading, and there is no need to re-read the relevant contents again. It is also rich in content, especially in the findings section, which explains in detail the processes and results.

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The writing in the paper on a scale of 2(dissatisfied). This is because there is a lack of effective information in the content, especially in the findings section, which is not explained and described in detail. In addition, although the organization and logical process of this paper are acceptable, the use of vocabulary, especially in the literature review, still needs to be strengthened. The description of the literature review is a little messy and vague, so I need to read it again to understand its meaning.

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Rate the significance of the paper on a scale of 4 (significant contribution). This is because this research assisted the Malaysian business in performing successfully by making sound decisions based on internal and external variables. In addition, the results brings more advantages for investor and policy maker in Malaysia.

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Rate the significance of the paper on a scale of 3 (modest contribution). This is because this research has no special or huge breakthrough, mainly to prove that the previous research is more accurate.

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Return on asset (ROA) and return on equity (ROE) were used as dependent variables which are used to measure the firm performance.

Dividend payout ratio (DPOR), earnings per share (EPS), and price earnings ratio (PER) were used as independent variables which are used to measure the dividend policy.

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1. Data availability -  some of the firm's annual report does not provide details about the dividend.

2. Total periods of the study - the year data might not be enough to obtain more accurate results.

3. The sector of the study- this research is limited to one sector which is the consumer product and services sector.

4. Country of the study - this study only focuses on Malaysia, so this study might not be suitable for all of the industries.

5. Data analysis techniques - the techniques employed to conduct the research would also cause the findings of this study to be different from those of previous scholars.

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1. The sample size of the research is too small.

2. The year data used is insufficient to obtain more accurate results.

3. Use only the manufacturing sector for research.

4. Use multiple methods in spite of the regression method.

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The study provides Malaysian investors and policymakers with a deeper knowledge of the relationship between dividend policy and firm performance in the consumer product and service sector.

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The main contribution of paper 1 is that it proves that all the independent variables have a positive relationship with dependent variables.

That means the dividend payout ratio (DPOR), earnings per share(EPS), as well as price-earnings ratio(PER) have a positive impact on return on investments.

Therefore, for business, firms should maintain a consistent dividend policy in order to improve the return on assets.

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The main purpose of the research is to investigate the relationship between dividend policy and firm performance in Public listed company in Malaysia.

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The sample has been selected through the 25 firms from 1 main sector which is the consumer product and services sector with 200 observations in this study.

The secondary data used in this study is gathered from the official website of Bursa Malaysia Securities Berhad and other related sources for the years 2011 until 2018.

The study examined the firm's historical data using panel data analysis and cross-sectional time-series data.

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H1: There is any relation between dividend policy and firm performance.

H2: There is a positive relation between EPS and dividend policy.

H3: Return on the asset has any relation to dividend policy and firm profitability.

The assumptions listed are realistic and easy. However, I think it would be better to add more assumptions.

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Dependent Variables:

Return On Asset (ROA)

Return On Equity (ROE)

- Dependent Variables are to measure the firm performance.

Independent Variables:

Dividend Payout Ratio (DPOR)

Earning Per Share (EPS)

Price Earnings Ratio (PER)

- Independent Variables are to measure the dividend policy.

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The main purpose of this research is to investigate the impact of dividend policy on the firm’s performance of manufacturing firms in Pakistan stock exchange (PSE).

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ARTICLE 1: Impact of Dividend Policy on Firm Performance                                                                  ARTICLE 2: The Impact of Dividend Policy on Firm Performance in Public Listed Company in Malaysia

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ARTICLE 1: Impact of Dividend Policy on Firm Performance                                                                  ARTICLE 2: The Impact of Dividend Policy on Firm Performance in Public Listed Company in Malaysia