Training programs are an important tool of human resource management, especially in case of technological and organizational changes inside a company. According to the human capital theory, trainings generally lead to increased post-training wages. Having this into consideration, this paper aims...

Dividend policy is still a largely discussed issue in corporate finance literature. One of the main indicators used in analysing the dividend policy is the dividend payout ratio. Using a database consisting of 12,085 companies operating in 73 countries, for the period 2008–2014, the authors...