Dividend Policy and Behavior in Emerging Markets PDF Download
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Author: Jack D. Glen
Publisher: World Bank Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
Author: Jack D. Glen
Publisher: World Bank Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
Get Book Here
Book Description
Author: Jack Glen
Publisher:
ISBN:
Category : Dividendos - Paises en desarrollo
Languages : en
Pages : 25
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Book Description
Author: Sabur Mollah
Publisher: LAP Lambert Academic Publishing
ISBN: 9783838337319
Category :
Languages : en
Pages : 308
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Book Description
'The harder we look at the dividend picture, the more it seems like a puzzle, with pieces that just don't fit together' (Black 1976, p. 5). A number of researchers provide insights, theoretical as well as empirical, into the dividend policy puzzle. The issue as to why firms pay dividends is as yet unresolved. There is no unanimity among researchers but everyone agrees that the issue is important, as dividend payment is one of the most commonly observed phenomenon in corporations world-wide. The empirical results identify leverage, size, insider ownership, and collateralizable assets as the major determinants of dividend policy. The empirical results document that dividend decision is primarily governed by cash flow for measuring the capacity of the companies to pay dividends and dividends paid in the previous years. The empirical results also identify Brittain's (1966) partial adjusted model as the best-fit dividend behavioural model. As insiders trade in the market, information used to be adjusted with the share prices before announcement, therefore, dividend announcement does not convey any new information to the emerging market.
Author: Varouj A. Aivazian
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
We find that emerging market firms exhibit similar dividend behavior to U.S. firms in the sense that dividends are explained by profitability, debt, and the market to book ratio. However, empirical dividend policy equations are structurally different, indicating different sensitivities to these variables.Additionally, emerging market firms seem to be more affected by asset mix, which seems to be due to their greater reliance on bank debt. Overall, country factors are as important in dividend policies as previous studies have found them to be in capital structure decisions.
Author: Cahit Adaoglu
Publisher:
ISBN:
Category :
Languages : en
Pages : 35
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Book Description
Dividend policy behaviour of corporations operating in emerging markets is significantly different from the widely accepted dividend policy behaviour of corporations operating in developed markets. This study provides evidence from the Istanbul Stock Exchange (ISE), an emerging European stock market, and analyses empirically whether the ISE corporations follow stable cash dividend policies in a regulatory environment that imposed mandatory dividend policies. Unlike the empirical results supporting the stable dividend policy behaviour of corporations operating in developed markets, the empirical results show that the ISE corporations follow unstable cash dividend policies and the main factor that determines the amount of cash dividends is the earnings of the corporation in that year.
Author: H. Kent Baker
Publisher: John Wiley & Sons
ISBN: 0470455802
Category : Business & Economics
Languages : en
Pages : 552
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Book Description
Dividends And Dividend Policy As part of the Robert W. Kolb Series in Finance, Dividends and Dividend Policy aims to be the essential guide to dividends and their impact on shareholder value. Issues concerning dividends and dividend policy have always posed challenges to both academics and professionals. While all the pieces to the dividend puzzle may not be in place yet, the information found here can help you gain a firm understanding of this dynamic discipline. Comprising twenty-eight chapters—contributed by both top academics and financial experts in the field—this well-rounded resource discusses everything from corporate dividend decisions to the role behavioral finance plays in dividend policy. Along the way, you'll gain valuable insights into the history, trends, and determinants of dividends and dividend policy, and discover the different approaches firms are taking when it comes to dividends. Whether you're a seasoned financial professional or just beginning your journey in the world of finance, having a firm understanding of the issues surrounding dividends and dividend policy is now more important than ever. With this book as your guide, you'll be prepared to make the most informed dividend-related decisions possible—even in the most challenging economic conditions. The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals.
Author: Quoc Trung Tran
Publisher: Emerald Group Publishing
ISBN: 1837979871
Category : Business & Economics
Languages : en
Pages : 161
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Book Description
The research explores the critical role of the business environment in shaping corporate decisions, with a specific focus on dividend policy. Written with a finance and treasury readership in mind, this work will appeal to students, educators, researchers, managers, and policymakers alike.
Author: Alev Dilek Aydin
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659784293
Category :
Languages : en
Pages : 228
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Book Description
Dividend policy is one of the most frequently researched areas in the field of finance and dividend payout decision is an important element of corporate policy. The effect of ownership structure on the dividend policies of the non-financial firms attracts as much attention as has never before since the beginning of 1980s. Until this time, academicians and researchers have concentrated their efforts mostly on developed nations. However, as the world has become more globalized and as the emerging countries have received a higher proportion from the global equity investments, investors have also started to pay more attention to the dividend policies of emerging markets. This book aims to analyze the impact of various ownership structures on dividend policies of the selected non-financial corporations. Additionally, another aim is to investigate the dividend policies of emerging market economies. Finally, corporate governance has also a significant influence on dividend policy because companies with better governance mechanisms exhibit a stronger propensity to pay dividends in the form of larger dividends. From a different perspective, dividends are the result of good governance.
Author: George Frankfurter
Publisher: Elsevier
ISBN: 0080488730
Category : Business & Economics
Languages : en
Pages : 249
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Book Description
Dividend Policy provides a comprehensive study of dividend policy. It explores the puzzle presented by dividends: irrational and subject to fashion, yet popular and desirable, they remain a priority among managers, even while perceived as largely symbolic. After exploring the history of dividend payments, from the emergence of the modern corporation to current perspectives, it traces the evolution of academic models on dividend policy. Here the authors review models of symmetric and asymmetric information before analyzing academia's accomplishments in solving the dividend puzzle. Related subjects, such as valuation and wealth distribution, round out the authors' presentation about new ways to think about one of the most intriguing subjects in financial economics. The book is recommended for professors and students in departments of finance and business, corporate finance staff, and financial regulators. The only comprehensive study of dividend policy Covers the historical evolution of dividends and academic research on dividend policy Presents new ways of thinking about dividends and dividend policy
Author: Lawrence Bouton
Publisher: World Bank Publications
ISBN: 9780821347850
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
This discussion paper examines in its first part, the role of private investment in economic growth. While theoretical growth models developed in the economics literature, make no distinction between private, and public components of investment, there is an emerging appreciation that private investment is more efficient, and productive tan public investment. Results from the recent empirical literature, updated here with the recent data on private investment, suggest that private investment has a stronger association with long run economic growth than public investment. The second part shows trends in private, and public fixed investment in fifty developing countries. On average, the ratio of private investment to GDP continued its upward trend, reaching record levels in 1998, the most recent year for which comparable data exist. That year, average private investment reached 14.3 percent of GDP, but public investment, fell to only 7.0 percent of GDP, its lowest level since 1974.
