Dividend payment policy is a significant issue of neoclassical theories of finance. One of the concepts which poses a … challenge to the neoclassical approach to dividend payment policy is behavioural finance, including a catering theory of … empirical verification of research hypothesis stipulating that the number of dividend payers increases if the dividend payers …

This paper explores investors' preference for capital gain and dividend payment. The questionnaire results show that … overall, most investors prefer capital gain over cash dividend. The results from the regression also demonstrate that all … positively related to an investors tendency to prefer dividend payment, with investment income and age having the strongest …