Jitmaneeroj, Boonlert - In: Review of Accounting and Finance 16 (2017) 1, pp. 125-140
Purpose This paper aims to examine the conditional and nonlinear relationship between price-earnings (P/E) ratio and payout ratio. A common finding of previous studies using linear regression model is that the P/E ratio is positively related to the dividend payout ratio. However, none of them...