Academic literature on the topic 'Dividend irrelevance theory'

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Journal articles on the topic "Dividend irrelevance theory"

1

Shrestha, Sanjay. "Concept of Dividend Irrelevance Theory." Academic Voices: A Multidisciplinary Journal 3 (March 9, 2014): 46–49. http://dx.doi.org/10.3126/av.v3i1.9988.

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This Article states that dividend policy does not affect the value of the firm. Their argument is that stack holder’s wealth is unaffected whether corporate profits are distributed or retained in the business. Their reasoning is that under an efficient market condition, a firm’s value is determined by its potential earning power and it does not affect the decision on how profits are to be split between dividends and retained earning. Therefore, as per M-M theory a firm’s value is independent of dividend policy.Academic Voices, Vol. 3, No. 1, 2013, Pages 46-49 DOI: http://dx.doi.org/10.3126/av.
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2

M’rabet, Rachid, and Wiame Boujjat. "The Relationship Between Dividend Payments And Firm Performance: A Study Of Listed Companies In Morocco." European Scientific Journal, ESJ 12, no. 4 (2016): 469. http://dx.doi.org/10.19044/esj.2016.v12n4p469.

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Many theories have been documented on the relevance and irrelevance of dividend policy. Authors continue to come up with various conclusions with regard to dividend policy from their empirical studies. This paper sought to examine the relationship between dividend policies and financial performance of selected listed firms in Morocco. Data were sourced through secondary means from the annual reports of the sampled quoted firms and was analyzed using panel data regression model. Two models were developed in an attempt to provide a theoretical explanation on the birds-in-hand dividend relevance
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3

Philomina I, Udobi,, and Iyiegbuniwe, Wilfred I. "A Test of Miller and Modigliani Dividend Policy Irrelevance Theory in Nigerian Stock Market." American Finance & Banking Review 2, no. 2 (2018): 1–13. http://dx.doi.org/10.46281/amfbr.v2i2.132.

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This study empirically tests for the validity of Miller and Modigliani’s dividend irrelevance proposition in the Nigerian Stock Exchange (NSE). Secondary data were obtained from the Nigerian Stock Exchange fact book and firms’ annual audited financial statements for fifteen years (2001-2015). Mediation Analyses, was used to measure the direct and indirect effects of dividend on stock price. Correction of the anomalous use of current dividend and current earnings by the use of naive expectation of dividend and earnings revealed that the direct effect of expected dividend on share price is signi
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4

Seyedimany, Arian. "Stock Price Reactions on NASDAQ Stock Exchange for Special Dividend Announcements." Emerging Science Journal 3, no. 6 (2019): 382–88. http://dx.doi.org/10.28991/esj-2019-01200.

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Announcing dividend pay-out policy by a company will signals market firm’s future prospects and changes its stock prices according to dividend signalling theory. By analysis the effect of special dividend announcements for 5 companies listed in NASDAQ for the period of 2014-2018, this study investigates the stock price reactions to special dividend announcement for 40 days around the event and challenges dividend signalling theory. The empirical results calculated both in discrete and logarithmic forms. Only few disordered significant abnormal returns and average abnormal returns occurred acco
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5

Shah, Ziaullah, Shehzad Khan, and Muhammad Faizan Malik. "The Impact of Dividend Policy on Stock Price Volatility in Pakistan." Global Regional Review IV, no. I (2019): 506–15. http://dx.doi.org/10.31703/grr.2019(iv-i).54.

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The objective of this study is to inspect dividend policy influence on volatility of share prices. For investigation seven Non-financial segment/sectors have been selected. A sample of 137 firms who paid four dividend payments listed at PSX is analysed for the period of 2007-2017.Proxy for policy of dividend are earning per share, Payout ratio, dividend yield, while assets growth and firm size are taken as control variables. OLS regression model has been initially applied on panel data. The outcomes of fixed effect model are focused. Overall outcomes of the study confirmed that prices of stock
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6

Krylov, Sergey. "Company Dividend Policy Modeling: Neutral Approach." International Journal of Financial Research 12, no. 1 (2020): 50. http://dx.doi.org/10.5430/ijfr.v12n1p50.

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The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing t
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7

Krylov, Sergey. "Company Dividend Policy Models: Neutral Approach." New Challenges in Accounting and Finance 3 (August 2020): 40–52. http://dx.doi.org/10.32038/ncaf.2020.03.04.

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The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevant scores models characterizing t
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8

Abramov, A. E., A. D. Radygin, M. I. Chernova, and R. M. Entov. "The “dividend puzzle” and the Russian stock market. Part 1." Voprosy Ekonomiki, no. 1 (January 8, 2020): 66–92. http://dx.doi.org/10.32609/0042-8736-2020-1-66-92.

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This article analyzes the key patterns of the dividend policy and the problem of the “dividend puzzle” in the general context of the development of the stock market in Russia. The article consists of two parts.In the first part we summarize main research trends of dividend policy in modern economic theory (the classical Modigliani—Miller theory of dividend irrelevance, agent and signal hypotheses, the smoothing model, the catering theory, etc.). We emphasize the theoretical analysis of motivation of the largest Russian companies for profit allocation and dividend payout, based on a sample of 2
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9

Alaeto, Emeka Henry. "Impact of Dividend Announcements on Stock Prices of UK Firms Listed in London Stock Exchange." GIS Business 13, no. 4 (2018): 1–10. http://dx.doi.org/10.26643/gis.v13i4.3271.

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The aim of this paper is to explore the possible relationship between dividend announcement and stock price reactions upon announcements by the quoted firms in London Stock Exchange (LSE). For the sake of this study, an event-study methodology was employed to calculate any abnormal or excess returns around dividend announcements for 100 firms listed in the LSE over a period of 5 years (2010-2014). The result of the event study indicates that dividend announcements do not convey information to investors (Khan, 2011). The researcher concludes by saying that dividend announcements do not convey a
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10

Maharani, Ida Ayu Dinda Priyanka. "Pengaruh Rasio Profitabilitas, Leverage dan Kebijakan Dividen Terhadap Nilai Perusahaan Studi Pada Sektor Perbankan Di Bursa Efek Indonesia." Widya Manajemen 3, no. 1 (2021): 27–38. http://dx.doi.org/10.32795/widyamanajemen.v3i1.1101.

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This study discusses the relationship between profitability ratios, leverage and dividend policy on firm value in the banking sector on the Indonesia Stock Exchange. The banking sector was chosen because the banking sector is one of the fastest growing sectors and has promising long-term business prospects. The high value of the company will affect the level of prosperity of shareholders. Several factors affect firm value, namely profitability, leverage, and dividend policy, which are factors that can be controlled by the company. This study uses Dividend Irrelevance Theory and Bird in The Han
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