This article documents how the changing composition of U.S. publicly traded firms has prompted a decline in the long-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend-price ratio for such changes resolves several issues with respect to the...

In this research paper we have discussed various theories regarding the impact of dividend policy on the performance of the firms. We have also analyzed these theories in the light of the companies that are practically undergoing through the debate of determining the key factors, which play a...

Usage of a random effects panel logit model have shown in this paper that the high propensity to pay dividends by the state-controlled companies quoted on the Warsaw Stock Exchange over the last years was not a result of the tunneling effect but was the maturity effect. The state-controlled...

This paper examines the use of the payout ratio as a predictor of a firm's future earnings growth. Recent evidence rejects the hypothesis that firm which retain a large portion of their earnings have strong future earnings growth. Higher dividend payout ratios instead correspond to higher future...

Optimizing the means of wealth distriubution to shareholders is a fundamental issue for financial managers. Contemporary theory of finance tries to solve the problem of measuring the impact of shareholders' benefits (both cash and non-cash) on the value of the company. From the classical point...

In this paper, we investigate the effects of goodwill accounting under IAS 36 on dividend policy in Italian Listed Companies. The technical areas of discretion in impairment test accounting enable pursuing three typical forms of earnings management: earnings smoothing, earnings increasing and...

Arguments for eliminating the double taxation of dividends apply only to dividends paid by corporations to individuals. The double (and multiple) taxation of dividends paid by one firm to another - intercorporate dividends - was explicitly included in the 1930s as part of a package of tax and...

Dividend policy is widely researched topic in finance but still it remains a debatable issue to decide what factors determine equity dividend. This study is an attempt to empirically analyze the determinants of equity dividend of Indian Information Technology Sector. For this purpose, various...

This paper investigates the relationship between mutual funds' holdings and listed firms' dividend policies in China. We find that mutual funds prefer to hold the shares of listed firms that pay cash or stock dividends. However, mutual funds are not particularly attracted to firms that pay high...