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paper tries to answer the question as to whether the increased dividend payments observed in Poland can be a symptom of … companies quoted in the years 1992–2014 on the Warsaw Stock Exchange tend towards the conclusion that the increase of dividend … dividend policy of the companies quoted on the WSE show similar tendencies to those of the developed equity markets, this may …
Persistent link: https://www.econbiz.de/10011617033
sophisticated approach to implementation.A paradigmatic example of regulatory dualism is offered by Brazil's “New Market” (Novo … regulatory dualism as a strategy for capital market reform is not unique to Brazil, nor is it suited just to developing countries …
Persistent link: https://www.econbiz.de/10009506961
In the last dozen years, economists have produced a considerable body of research suggesting that the historical origin of a country’s laws is highly correlated with a broad range of its legal rules and regulations, as well as with economic outcomes. Much of this research has dealt with rules...
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in favor of agency considerations. Studies centered on the May 2003 dividend tax cut confirm that differences in the …
Persistent link: https://www.econbiz.de/10010371307
Textbook theory assumes that firm managers maximize the net present value of future cash flows. But when you ask them, real-world firm managers consistently say that they are maximizing something else entirely: earnings per share (EPS). Perhaps this is a mistake. No matter. We take firm managers...
Persistent link: https://www.econbiz.de/10014250143
This paper surveys the literature on payout policy. We start out by discussing several stylized facts that are important to the development of any comprehensive payout policy framework. We then describe the Miller and Modigliani (1961) payout irrelevance proposition, and consider the effect of...
Persistent link: https://www.econbiz.de/10014023869