Do Firms in Emerging Markets Follow Different Dividend Policies From U.S. Firms? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Do Firms in Emerging Markets Follow Different Dividend Policies From U.S. Firms? write by Varouj A. Aivazian. This book was released on 2003. Do Firms in Emerging Markets Follow Different Dividend Policies From U.S. Firms? available in PDF, EPUB and Kindle. 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.
Dividend Policy and Behavior in Emerging Markets
Dividend Policy and Behavior in Emerging Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dividend Policy and Behavior in Emerging Markets write by Jack D. Glen. This book was released on 1995. Dividend Policy and Behavior in Emerging Markets available in PDF, EPUB and Kindle.
Corporate Payout Policy
Corporate Payout Policy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Corporate Payout Policy write by Harry DeAngelo. This book was released on 2009. Corporate Payout Policy available in PDF, EPUB and Kindle. Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over the life of the enterprise, (ii) the time profile of a firm's payouts across periods, and (iii) the form of those payouts. The authors conclude that today's theory does a good job of explaining the general features of corporate payout policies, but some important gaps remain. So while our emphasis is to clarify "what we know" about payout policy, the authors also identify a number of interesting unresolved questions for future research. Corporate Payout Policy discusses potential influences on corporate payout policy including managerial use of payouts to signal future earnings to outside investors, individuals' behavioral biases that lead to sentiment-based demands for distributions, the desire of large block stockholders to maintain corporate control, and personal tax incentives to defer payouts. The authors highlight four important "carry-away" points: the literature's focus on whether repurchases will (or should) drive out dividends is misplaced because it implicitly assumes that a single payout vehicle is optimal; extant empirical evidence is strongly incompatible with the notion that the primary purpose of dividends is to signal managers' views of future earnings to outside investors; over-confidence on the part of managers is potentially a first-order determinant of payout policy because it induces them to over-retain resources to invest in dubious projects and so behavioral biases may, in fact, turn out to be more important than agency costs in explaining why investors pressure firms to accelerate payouts; the influence of controlling stockholders on payout policy --- particularly in non-U.S. firms, where controlling stockholders are common --- is a promising area for future research. Corporate Payout Policy is required reading for both researchers and practitioners interested in understanding this central topic in corporate finance and governance.
Instability in the Dividend Policy of the Istanbul Stock Exchange (Ise) Corporations
Instability in the Dividend Policy of the Istanbul Stock Exchange (Ise) Corporations - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Instability in the Dividend Policy of the Istanbul Stock Exchange (Ise) Corporations write by Cahit Adaoglu. This book was released on 2000. Instability in the Dividend Policy of the Istanbul Stock Exchange (Ise) Corporations available in PDF, EPUB and Kindle. 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.
Dividend policy and behavior in emerging markets : to pay or not to pay
Dividend policy and behavior in emerging markets : to pay or not to pay - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Dividend policy and behavior in emerging markets : to pay or not to pay write by Jack Glen. This book was released on 1995. Dividend policy and behavior in emerging markets : to pay or not to pay available in PDF, EPUB and Kindle.
