The shareholder wealth consists of dividends and capital gains. former is considered to be risk averse, whereas the latter perceived risky. return trade-off in these two returns drives investor preference. objective a for-profit organization maximize shareholders’ wealth, however, disbursing may not always best interest shareholders. Theoretically, retained earnings increase share pri...

Purpose This study aims to examine cash dividend practices of travel and leisure (T&L) companies listed on the London Stock Exchange (LSE). Design/methodology/approach The uses a panel data set 524 firm-year observations 55 unique publicly UK T&L between 2007 2019. First, it modified version Lintner’s (1956) partial adjustment model for analysis regarding target payout ratio smoothing. ...

Buddhism and Taoism have been deeply rooted in China for generations both of them a profound impact on the local culture social norms. By employing 23,999 firm-year observations between 2008 2018, we examine how religious norms affect corporate cash policies. We provide strong evidence that religiosity significantly reduces level holdings, by mitigating financial constraints earnings management...

This study focuses on the intraday relative timing of same day announcements of earnings and dividends. The price effects of three timing patterns are examined: (a) both earnings and dividends announced after the close of trading, (b) dividends announced before and earnings announced after the close of trading, and (c) earnings announced before and dividends announced after the close of trading...

this paper divulges the long term relationship among earning, investment and dividends from 2000 to 2011. empirical evidence was collected to explore the modigliani and miller theory of dividend irrelevance. data was collected from all the sectors but it was ensured that firms did not have negative data of earnings as it is earnings which are either transformed into investment or dividends. mul...

this world; though all the discussions are focused on the causal relationships in allthe scientific arguments. one of the methods to study the designed causal relationshipsobjectively is granger causality test. this paper aims to investigate the longtermcausal relationship between the stock price and dividends. the statisticalpopulation includes 180 active companies in stock exchange of tehran ...

In this note we value and hedge European options on assets paying discrete stochastic dividends. Our hedging strategy is based only on the underlying asset, risk-free bonds and dividend strips. Our simple strategy is easily seen to be compatible with early results based, among other things, on the existence of a dividend forward contract. Such contracts, however, are not traded in the market pl...

The purpose of this study is to know the effect liquidity, investment opportunity set, free cash flow, and state-owned enterprise on dividend policy bank companies listed Indonesia Stock Exchange (IDX) in 2011-2021. This uses a purposive sampling technique determine research sample. number selected by predetermined sample criteria 8 from 46 IDX sector. In study, an analytical test was conducted...

Dividend has been a matter of concern since the concept limited liability firms came to existence. The uncertainty regarding dividend policy is supposed hunker down unless we move away from whack-a-mole approach long-winded solution problem policy. issue gets exacerbated because inclination towards valuation by people who call shots in firms. This paper explores association with rising NPAs Ind...