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Journal articles on the topic 'Dividend payment'

Author: Grafiati

Published: 4 June 2021

Last updated: 26 July 2025

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1

Tedja, Imelia Carolina, Tarsisius Renald Suganda, and Fitri Oktariani. "Permintaan Investor dan Karakteristik Keuangan terhadap Keputusan Pembayaran Dividen." Jurnal Akuntansi 12, no. 2 (2020): 327–36. http://dx.doi.org/10.28932/jam.v12i2.2528.

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Dividend payment decision is an essential policy of companies to provide investors’ expectation of investment returns. This research is aimed to prove the catering theory of dividend and financial characteristics affecting corporate decisions in dividend payments. The study was conducted on a manufacturing company published on the Indonesia Stock Exchange (IDX). Analyzing the prediction of catering theory and financial analysis of companies in making dividend payments is conducted using the logistic regression method. This research is a quantitative research and moreover manufacturing companie

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2

Antonius Siahaan, Yosman Bustaman, and Indah Larisa Sari. "Ownership Concentration, Corporate Liquidity, and Dividend Payment Policy: Evidence from Indonesian Financial Industries." International Journal of Business and Society 21, no. 3 (2021): 1310–21. http://dx.doi.org/10.33736/ijbs.3351.2020.

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The main objective of this research is to analyze the effect of ownership concentration and corporate liquidity on dividend payment policy in the Indonesian financial industry. Dividend payment is measured using dividend pay-out ratio on measuring dividend payment. Corporate ownership concentration is measured using the number of shares held by legal individual investors and large block shareholders. Ownership concentration is divided into three categories, which are inside shareholders, stable shareholders, and market shareholders. Corporate liquidity is measured by corporate profit, defined

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3

Fauziah, Fenty, Sri Wahyuni Jamal, and Umi Kartini Rashid. "The Dividend Payment Puzzle." EKOMABIS: Jurnal Ekonomi Manajemen Bisnis 5, no. 02 (2024): 207–20. http://dx.doi.org/10.37366/ekomabis.v5i02.1442.

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This study's objective is to ascertain and identify influencing the decision to pay dividends. Dividend data were subjected to fixed effects model. Panel regression analysis taken from annual reports issued by manufacturing companies listed on the BEI above 2016-2022 period. The affect dividends are ROA, DER, Size and TR. The company must pay attention to the overall factor that used, so that policies can be taken appropriately. Dividend payments are concentrated in large companies. Managers can use the empirical findings to make dividend payment decisions. The government learn from the impact

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4

Adi Wibowo, Seto Sulaksono, and Agung Bana. "FACTORS AFFECTING DIVIDEND PAYMENT POLICY." AFEBI Management and Business Review 5, no. 1 (2020): 69. http://dx.doi.org/10.47312/ambr.v5i1.296.

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<p><strong><em>Dividend payments are a routine activity that is usually done by the company once a year. Before dividend payments are made many factors are considered before the company pays the dividends. This study aims to determine what factors affect the payment of dividends. The sample used in this study is all non-financial sector companies that pay dividends for 3 consecutive years 2016 to 2018. This study uses the Eviews test tool and uses multiple regression tests. The results of this study indicate that profitability, life cycle and company size have positive effect

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Bana, Agung. "FACTORS AFFECTING DIVIDEND PAYMENT POLICY." AFEBI Management and Business Review 5, no. 01 (2020): 69. http://dx.doi.org/10.47312/ambr.v5i01.296.

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<p><strong><em>Dividend payments are a routine activity that is usually done by the company once a year. Before dividend payments are made many factors are considered before the company pays the dividends. This study aims to determine what factors affect the payment of dividends. The sample used in this study is all non-financial sector companies that pay dividends for 3 consecutive years 2016 to 2018. This study uses the Eviews test tool and uses multiple regression tests. The results of this study indicate that profitability, life cycle and company size have positive effect

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6

Putri, Pavita Bayu, and Arief Yulianto. "Government Ownership and Dividend Payment Policy." Management Analysis Journal 9, no. 2 (2020): 179–86. http://dx.doi.org/10.15294/maj.v9i2.37344.

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The purpose of this study to examine and analyze differences in the average policy of dividend payments with government ownership in companies listed on the Indonesia Stock Exchange in period 2008-2017. Previous research still shows differences in research results or inconsistent results between one study and another. The results showed that the average dividend payment policy carried out by the government was higher than companies that did not have government ownership. This is considered as government ownership, so the amount of dividends distributed will increase. Based on the results of th

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Yavorska, Oleksandra S., Pylyp D. Pylypenko, Svitlana M. Synchuk, Iryna I. Shpuhanych, and Yustuna Y. Samagalska. "Legal Aspects of Dividend Payment in a Limited Liability Company." Cuestiones Políticas 39, no. 70 (2021): 119–38. http://dx.doi.org/10.46398/cuestpol.3970.07.

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The objective of the study was to identify forms, main objectives and regulatory measures that can improve the development of the legal regulation of dividend payments in a limited liability company. The study involved three methods: direct observation, comparison, and analysis of the content of documents that provide legal regulation of dividend payments at the state and interstate levels. Eight important factors influencing dividend policy are presented. The success of business activity depends directly on the regularity of profits and the amount of capital of the company, while it is invers

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Tan, Yi, Xiaoli Wang, and Xiaoyu Fu. "Venture Capital and Dividend Policy." International Journal of Financial Studies 12, no. 1 (2024): 27. http://dx.doi.org/10.3390/ijfs12010027.

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In this paper, we empirically examine the impact of venture capital investment on the dividend policy of the invested companies using a sample of list companies from China’s ChiNext market during the period 2014 to 2019. Our empirical results show that different types of VC investments have different impacts on the dividend policies of the invested companies. To be specific, we found independent venture capital companies (IVCs) promote the company’s dividend payment and increase the level of dividend payments while corporate venture capital (CVC) inhibits the company’s dividend payment. The jo

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9

KISELEVA, Tat'yana Yu. "Current trends in the formation of the dividend policy of Russian companies." Financial Analytics: Science and Experience 17, no. 3 (2024): 279–92. http://dx.doi.org/10.24891/fa.17.3.279.

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Subject. The article discusses the dividend policy of companies, its adaptation to risks and realities of the Russian economy. Objectives. Based on the analysis of conditions for the dividend policy formation in Russian corporations in the last decade, the study aims to unveil trends in dividend policy implementation, reasons for resumption of dividend payments in 2023, forecasts regarding the continuing dividend payment trends. Methods. The study employs historical and systems approaches, methods of analysis, synthesis, comparative analysis, generalization, and others. Results. The formation

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Sunday, David, Chinyere Joan anafa, and Christian Ogochukwu Nduokafor. "Nexus between Dividend Payment and Earnings Quality of Quoted Manufacturing Firms in Nigeria." Journal of Accounting and Financial Management 9, no. 8 (2023): 59–80. http://dx.doi.org/10.56201/jafm.v9.no8.2023.pg59.80.

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The objective of this study is to ascertain the nexus between dividend payment and earnings quality of quoted manufacturing firms in Nigeria. The study adopted the ex-post facto research design. It covered a period of ten years spanning from 2012 to 2021. The population of the study was44 quoted manufacturing firms out which 32 were selected as sample size using purposive sampling techniques. The data were collected from financial statement of the selected firms listed on the Nigeria Exchange Group as at 31 st December, 2021. The data were analyzed using Ordinary Least Square and operated by E

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11

Sidelnikova, Svetlana Yu. "Dividends: Payment and Restrictions." Zakon 22, no. 5 (2025): 120–29. https://doi.org/10.37239/0869-4400-2025-22-5-120-129.

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The work offered to the reader’s attention is devoted to certain issues of dividend payment: the form of payment, restrictions on payment to a certain circle of persons formed by modern situational regulation and the latest legislative changes. For more than twenty years of experience in the field of corporate law, the author has not encountered cases of payment of dividends in non-monetary funds mainly in public companies, but she had to study the issue and prepare conclusions on it for consideration of such decisions by the owners of business. Scientific papers also analyse this issue from t

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Rosario, Shireen, and Chandra Sen Mazumdar. "Impact of competition & economic policy uncertainty on payout policy of the Indian pharmaceutical industry." Global Journal of Economics and Business 9, no. 3 (2020): 660–68. http://dx.doi.org/10.31559/gjeb2020.9.3.13.

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Extant literature shows that competition and Economic Policy Uncertainty (EPU) have a bearing on the economic growth, investments and payout policies. However, studies in this area have been limited in India. The objective of this paper is to examine the influence of competition and EPU on the Dividend Payments of Indian Pharmaceutical Industry and whether the dividend payment was affected by the Financial Crisis of 2008/09. The study is conducted on 12-year data i.e. from 1.4.2007 to 31.3.2019. Herfindahl-Hirschman Index (HHI) is used to check the market concentration and EPU is measured by t

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13

Melching, Konstantin, and Tristan Nguyen. "On the Impact of Dividend Payments on Stock Prices - an Empirical Analysis of the German Stock Market." Studies in Business and Economics 16, no. 1 (2021): 255–69. http://dx.doi.org/10.2478/sbe-2021-0020.

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Abstract This paper examines the relation between dividend payments and stock prices of all firms in the German prime standard DAX 30 in the time period from 2012 to 2019. The irrelevance theory introduced by Miller and Modigliani states that dividend payments must not have an impact on stock prices in a perfect market. In contrast, the signaling theory and the dividend puzzle indicate that dividend payments are likely to have a profound impact on the stock price. According to our findings the ex-dividend decrease of stock prices was significantly smaller than the dividend payment. Nevertheles

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Coetzee, Me Stéfani, and Johannes de Wet. "Dividend tax, dividend payments and share values: a South African perspective." Corporate Ownership and Control 11, no. 3 (2014): 242–52. http://dx.doi.org/10.22495/cocv11i3c2p3.

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The study investigates the impact of changes in dividend taxes on dividend payment policies and in turn, the impact of dividend payments on share prices. An event study approach is used to analyse the share price movements before, on and after dividend announcement dates. The results for companies of which the dividend paid resulted in an increase in the dividend payout ratio were that share prices responded positively to the announcement on the announcement date and for the few days thereafter. The findings again underline the paradoxical nature of dividends and although a better understandin

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15

Dickson, D. C. M., and S. Drekic. "Optimal Dividends Under a Ruin Probability Constraint." Annals of Actuarial Science 1, no. 2 (2006): 291–306. http://dx.doi.org/10.1017/s1748499500000166.

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ABSTRACTWe consider a classical surplus process modified by the payment of dividends when the insurer's surplus exceeds a threshold. We use a probabilistic argument to obtain general expressions for the expected present value of dividend payments, and show how these expressions can be applied for certain individual claim amount distributions. We then consider the question of maximising the expected present value of dividend payments subject to a constraint on the insurer's ruin probability.

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16

Kambeu, Edson. "Significance of a change in dividend payment frequency." International Journal of Finance & Banking Studies (2147-4486) 6, no. 1 (2017): 134–40. http://dx.doi.org/10.20525/ijfbs.v6i1.663.

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The objective of this paper is to analyse the significance of a change in dividend payment frequency. We initially argue that a change in dividend payment frequency is significant and relevant in the same manner as a change in dividend policy. We analyse the subject using an event study of Sechaba Holdings, a firm listed on the Botswana Exchange` that decided to change its dividend payment frequency from quarterly to bi-annual payment to examine the subject. We specifically used an event study methodology that analyses the significance of abnormal returns that occurred during the event period.

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17

Xu, Ran, and Jae-Kyung Woo. "Optimal dividend and capital injection strategy with a penalty payment at ruin: Restricted dividend payments." Insurance: Mathematics and Economics 92 (May 2020): 1–16. http://dx.doi.org/10.1016/j.insmatheco.2020.02.008.

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Li, Tong, and Nengsheng Luo. "Dividend Payments and Persistence of Firms’ Green Innovation: Evidence from China." Sustainability 16, no. 18 (2024): 7975. http://dx.doi.org/10.3390/su16187975.

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Green innovation is an important driver for the sustainable development of the real economy and the realization of a green transformation. Previous studies have paid less attention to the relationship between dividend payments and the persistence of green innovation and neglected the mechanism of knowledge management on the relationship between the two. Using Chinese listed non-financial companies from 2007 to 2022, this paper empirically investigates the effect and mechanism of dividend payment on corporate green innovation persistence based on two perspectives: principal–agent theory and inc

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Sirait, Febriela, and Sylvia Veronica Siregar. "Dividend payment and earnings quality: evidence from Indonesia." International Journal of Accounting and Information Management 22, no. 2 (2014): 103–17. http://dx.doi.org/10.1108/ijaim-04-2013-0034.

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Purpose – This research aims to examine the relationship between dividend payment and earnings quality. Design/methodology/approach – The authors examine four dividend features: dividend-paying status, dividend size, dividend changes, and dividend persistence. The samples consist of 90 firms from the manufacturing industry in the years 2005-2009. Multiple regression is used for testing hypotheses. Findings – The results show that dividend-paying status, dividend increase, and persistence in dividend payment have significant positive association with earnings quality. However, the authors do no

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Zhu, Jinxia. "Dividend optimization for general diffusions with restricted dividend payment rates." Scandinavian Actuarial Journal 2015, no. 7 (2014): 592–615. http://dx.doi.org/10.1080/03461238.2013.872174.

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21

Dr., Siti Rahmi Utami, Dorothy Tobing Stacia, and Agnes Longkutoy Anglia. "The Influence of Profitability and Growth Opportunity on Dividend Payment of the Firms in the Miscellaneous Industry Sector in Indonesia Stock Exchange." International Journal of Management Sciences and Business Research 4, no. 9 (2015): 26–31. https://doi.org/10.5281/zenodo.3461467.

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The objectives of our research are to examine the impact of profitability and growth opportunity on dividend payment. After analyzing the data of firms in Indonesia over the sample period 2009-2013, by using regression and correlation analysis, for testing hypotheses 1 and 2 to investigate the impact of profitability and growth opportunity on dividend payment, we made the conclusion. For hypothesis 1, we find that there is a positive insignificant effect of profitability on dividend payment, while for hypothesis 2 we conclude that growth opportunity has a positive and significant effect on div

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Hipp, Christian. "Optimal Dividend Payment in De Finetti Models: Survey and New Results and Strategies." Risks 8, no. 3 (2020): 96. http://dx.doi.org/10.3390/risks8030096.

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We consider optimal dividend payment under the constraint that the with-dividend ruin probability does not exceed a given value α. This is done in most simple discrete De Finetti models. We characterize the value function V(s,α) for initial surplus s of this problem, characterize the corresponding optimal dividend strategies, and present an algorithm for its computation. In an earlier solution to this problem, a Hamilton-Jacobi-Bellman equation for V(s,α) can be found which leads to its representation as the limit of a monotone iteration scheme. However, this scheme is too complex for numerica

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Khan, Muhammad Nadeem, and Moona Shamim. "A Sectoral Analysis of Dividend Payment Behavior." SAGE Open 7, no. 1 (2017): 215824401668229. http://dx.doi.org/10.1177/2158244016682291.

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This study analyzes the sector-wise dividend payment behavior of Karachi Stock Exchange (KSE) for the period 2009 through 2013. First, the trend of dividend payment of 5 years with respect to all 32 sectors is assessed through descriptive analysis. Second, the unit root test for panel data and pooled ordinary lest square (POLS) test were used on 15 non-financial sectors. Results show that the earning per share has a positive impact on dividend payment in eight sectors including beverages, travel and leisure, fixed-line telecommunication, food processors, household goods, personal goods, automo

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MOLOI, Tankiso, Tatenda NHARO, and Modi HLOBO. "Relationship between Board Characteristics and Dividend Payment Policies." Journal of Academic Finance 12, no. 1 (2021): 30–52. http://dx.doi.org/10.59051/joaf.v12i1.439.

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Objective: To investigate the relationship between corporate governance board characteristics and dividend pay-out (e.g. dividend pay-out ratio). Method: A panel regression analysis was undertaken to investigate the relationship between corporate governance board characteristics and dividend pay-out (e.g. dividend pay-out ratio). Data was collected from a sample of 29 firms in the top-40 of the Johannesburg Stock Exchange (JSE). Data collected spanned for a period of five years from 2013 – 2018 Results: Obtained result demonstrate that there is a significant relationship between bo

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Letaifa, Wissal Ben. "What Tells the Timing of Dividend Payment to Shareholders? The Case of French Companies." International Journal of Accounting and Financial Reporting 9, no. 1 (2019): 183. http://dx.doi.org/10.5296/ijafr.v9i1.14338.

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Purpose: This paper aims to extend and contributes to prior French research on the determinants of the timing of dividend payment. It seeks to investigate the impact of ownership structure, duality of the manager as chairman and president of the board, liquidity, size and growth opportunities, profitability, variation of the amount of dividend on the real timing of dividend payment.Design/methodology/approach: Using a panel of French listed firms from 2003 to 2008, the paper uses a cox regression to investigate the relationship between the corporate determinants and the timing of dividend paym

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Michelle and Petrus Ridaryanto. "DETERMINAN KEBIJAKAN PEMBAYARAN DIVIDEN." Prosiding Working Papers Series In Management 13, no. 2 (2021): 463–75. http://dx.doi.org/10.25170/wpm.v13i2.4532.

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This research aims to analyze the influence of corporate governance, tax avoidance, and leverage on companies' dividend payout policies. In this study, corporate governance is measured by the scoring method; tax avoidance measured by the current ETR; leverage used by the debt to asset ratio is used, and the dividend payout ratio is used to measure dividend payments. Using all companies listed on the Indonesia Stock Exchange and have a dividend payment policy for 2014-2018, this research Eviews version 11 as data analytic. The results show that there are a significant negative influence of tax

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Keppo, Jussi, A. Max Reppen, and H. Mete Soner. "Discrete Dividend Payments in Continuous Time." Mathematics of Operations Research 46, no. 3 (2021): 895–911. http://dx.doi.org/10.1287/moor.2020.1081.

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We propose a model in which dividend payments occur at regular, deterministic intervals in an otherwise continuous model. This contrasts traditional models where either the payment of continuous dividends is controlled or the dynamics are given by discrete time processes. Moreover, between two dividend payments, the structure allows for other types of control; we consider the possibility of equity issuance at any point in time. The value is characterized as the fixed point of an optimal control problem with periodic initial and terminal conditions. We prove the regularity and uniqueness of the

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Reyka Nafara Hilsya, Noopya Lestari, Qoriana Dewi, and Henny Setyo Lestari. "Pengaruh Pembayaran Dividen Terhadap Kinerja Keuangan Perusahaan Manufaktur." Jurnal Ekonomi 27, no. 2 (2022): 242–60. http://dx.doi.org/10.24912/je.v27i2.1065.

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This The purpose of this study is to analyze the effect of Dividend Payment on Firm Financial Performance of manufacturing companies listed on the IDX for the 2016-2020 period. The dependent variable is firm financial performance, the independent variable in this study is Dividend Payout Ratio and Decision of Dividend Payment, and the control variable is ROA and Tobins'q. The number of samples in this study were 29 manufacturing companies. The sampling technique used is purposive sampling technique. The results of panel data regression show that the results of the Dividend Payout Ratio and Dec

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Basuki, Hardo. "The Response of Corporate Dividend Policy to The Abolition of Tax Credit in the United Kingdom (U.K.)." Gadjah Mada International Journal of Business 9, no. 2 (2007): 217. http://dx.doi.org/10.22146/gamaijb.5600.

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By abolishing the tax credit on dividends received by tax-exempt financial institutions in 1997, the effective rate of tax for share-holders such as pension funds increases significantly, and the tax preference for dividends is significantly reduced. The tax-exempt shareholders mainly consist of pension funds and insurance companies with respect to their pension business. This tax-exempt community is the most influential shareholders in many U.K. companies, and their tax preference for dividends may have an important impact on corporate dividend policy.The objective of this study is to examine

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Farida, Farida, Nur Wahyuni, Venus F. Firdaus, Mery Wanialisa, Rahayu Endang Suryani, and Nursina Nursina. "Does Dividend Payment Generate a Market Signal to Investors?" Proceeding of the International Conference on Multidisciplinary Research for Sustainable Innovation 1 (August 12, 2024): 295–99. http://dx.doi.org/10.31098/icmrsi.v1i.810.

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In perfect market theory, the information will provide signals that are reflected in stock price movements. In the context of dividend payments, these theories are still debatable. Dividend payments will please shareholders as prosperity increases. But not sharing profits can also give a positive signal. The purpose of this study is to see if dividend payment able to give a positive signal on rising stock prices. The research will also look at whether profitability, leverage, asset growth, and interest rates also signal rising stock prices. Logistic regression analysis is applied to answer the

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Lyimo, Gregory Dominick. "Dividend Policy and Share Price Valuation of Listed Commercial Banks in Tanzania." Accountancy and Business Review 16, no. 2 (2024): 86–98. http://dx.doi.org/10.59645/abr.v16i2.233.

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Dividend payment signals good news to investors. Thus, it influences firm share price valuation. Over time, two contradicting theories have propounded the relevance and irrelevance of dividend policies to influence firm share price valuation. Despite the existence of the irrelevance theory, dividend payment has remained a key financial decision of corporate managers that has impacted firm’s share price valuation over time. Therefore, this study aimed at examining the effect of dividend policy on share price valuation of commercial banks in Tanzania. Specifically, the study examined the influen

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Wrońska-Bukalska, Elżbieta. "Power of an overconfident CEO and dividend payment." Journal of Management and Financial Sciences, no. 35 (July 27, 2019): 61–80. http://dx.doi.org/10.33119/jmfs.2018.35.4.

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The aim of the paper is to identify the relation between managerial overconfidence, managerial power and dividend decisions. We have implemented the survey to detect managerial overconfidence. We collected 145 answers with financial data covering 2010–2015. We employed the managerial share in ownership as a proxy for managerial power.We found that managerial power enhances to reveal the overconfidence in dividend decisions. We also found the pattern of behaviour of an overconfident manager having more power: more frequent dividends are paid out, but if dividend is paid out, the level and ratio

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Zhu, Jinxia. "OPTIMAL FINANCING AND DIVIDEND DISTRIBUTION WITH TRANSACTION COSTS IN THE CASE OF RESTRICTED DIVIDEND RATES." ASTIN Bulletin 47, no. 1 (2016): 239–68. http://dx.doi.org/10.1017/asb.2016.29.

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AbstractWe consider the optimal financing (capital injections) and dividend payment problem for a Brownian motion model in the case of restricted dividend rates. The company has no obligation to inject capitals and therefore, the bankruptcy risk is present. Capital injections, if any, will incur both fixed and proportional transaction costs and dividend payments incur proportional transaction costs. The aim is to find the optimal strategy to maximize the expected present value of dividend payments minus the total cost of capital injections up to the time of bankruptcy. The problem is formulate

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Ruzhanskaya, L., and S. Lukyanov. "Dividend Policy of Russian Companies and the Investors Interests." Voprosy Ekonomiki, no. 3 (March 20, 2010): 132–46. http://dx.doi.org/10.32609/0042-8736-2010-3-132-146.

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The paper concentrates on revealing basiс factors causing parameters of dividend policy. Analyzing practice of the Russian corporations, the authors conclude that, despite irregularity and in most cases refusal of payments by joint-stock companies, it is possible to determine similar features with the companies from the developed countries: concentration of dividends and circulation of the buy-back. Specific characteristics of dividend policy have become a consequence of poor quality of institutions leading to significant agency costs in firms: debt is not an essential restriction for payments

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Silvy, Mellyza, I. Made Narsa, Windijarto, and Priest Pujiantoro. "The Life Cycle And Dividend Premium Toward Dividend-Paying Behavior In Manufacturing Sector Companies." Strategic Financial Reviews 1, no. 1 (2024): 10–20. http://dx.doi.org/10.59762/sfr794324261120240118154216.

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This study aims to determine the independent variables that are able to predict dividend payment behavior and prove the occurrence of dividend catering theory in manufacturing companies that are in the growth phase. In determining the research sample, the researcher used purposive sampling. The number of samples in this study were 7 manufacturing companies with a total of 92 observations during 2015 – 2019. This study uses multinomial logistic regression analysis on SPSS 25. The results show that the dividend premium and profitability variables get positive and significant values in the high d

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Charitou, Andreas, Neophytos Lambertides, and Giorgos Theodoulou. "Dividend Increases and Initiations and Default Risk in Equity Returns." Journal of Financial and Quantitative Analysis 46, no. 5 (2011): 1521–43. http://dx.doi.org/10.1017/s0022109011000305.

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AbstractThis study extends the Grullon, Michaely, and Swaminathan (2002) analysis by incorporating default risk. Using data for firms that either increased or initiated cash dividend payments during the 23-year period 1986–2008, we find reduction in default risk. This reduction is shown to be a priced risk factor beyond the Fama and French (1993) risk measures, and it explains the dividend payment decision and the positive market reaction around dividend increases and initiations. Further analysis reveals that the reduction in default risk is a significant factor in explaining the 3-year exces

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Eka, I. Wayan Agus. "THE IMPACT OF THE 2009 INDONESIA’S DIVIDEND TAX CUT ON DIVIDEND PAYMENT." JURNAL PAJAK INDONESIA (Indonesian Tax Review) 2, no. 2 (2019): 1–5. http://dx.doi.org/10.31092/jpi.v2i2.228.

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On January 1, 2009 the effective tax rate for individual-recipient dividend fell significantly from 35% to 10%. This paper investigated the impact of the dividend tax cut policy on dividend payment in three aspects i.e. extensive margin, intensive margin and dividend per share amount, an adoption from Chetty and Saez (2004) approach. I used publicly available data provided by The Indonesian Stock Exchange and The Indonesian Central Securities Depository. I found that one year after the tax cut policy, the fraction of the firms paying dividend increase and reach its peak in 2011. From intensive

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Consler, John, Greg Lepak, and Susan Havranek. "Firm Characteristics Over Time by Dividend Payment Pattern and Firm Size." Journal of Finance Issues 14, no. 2 (2015): 47–63. http://dx.doi.org/10.58886/jfi.v14i2.2284.

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This paper examines relationships between four dividend payment patterns and firm size using seven relevant financial variables from prior studies. Growth rates on the means of these variables are obtained from CRSP using large sample (quarterly) data in the time span 2000 to 2012. The four dividend payment pattern groups represent traditional dividend theory, dividend irrelevance theory, dividend initiators, and a residual/catering theory approach. Results indicate that small firms following a traditional or a residual/catering payment pattern have been most attractive for investment purposes

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De Freitas Konrad, Júlio Henrique, Sérgio Jurandyr Machado, Mathas Schneid Tessmann, and Alexandre Vasconcelos Lima. "The Impact of Dividend Payments on Stock Price: Empirical Evidence From Companies Listed on the Brazilian Stock Exchange." International Journal of Accounting and Financial Reporting 14, no. 3 (2024): 57. http://dx.doi.org/10.5296/ijafr.v14i3.22279.

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This paper studies the impact of the dividend distribution policy on the valuation of stocks listed on Ibovespa (B3), the main Brazilian stock index. The results of an empirical analysis of the behavior of asset prices are presented for periods from 1 to 90 days after the dividend payment date, ex-dividend date, about the expected normal returns for the period. The sample, consisting of 40 events, includes stocks that paid dividends in 2018 and without overlapping events in the 90 days before or after the ex-date. A direct relationship was found between the dividend yield and the abnormal retu

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Grier, Nicholas. "Repaying an Unlawfully Paid Dividend." Business Law Review 44, Issue 4 (2023): 146–49. http://dx.doi.org/10.54648/bula2023017.

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It is well settled that directors are jointly and severally liable for an unlawfully paid dividend, being one that is not paid out of distributable profits. Strict rules apply to the meaning of distributable profits and the authorization of the payment of a dividend. What is not so clear is when a member may retain an unlawfully paid dividend. Section 847 of the Companies Act 2006 (CA 2006) indicates that a member must repay it if he knows that it is unlawfully paid, though it is not clear what constitutes ‘knowing’ in this content, or what the position should be if a member does not immediate

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Hoque, Ariful. "Impulse of Dividend Payment Decision: Evidence from Pharmaceutical Industry in Bangladesh." International Journal of Financial Research 9, no. 1 (2017): 219. http://dx.doi.org/10.5430/ijfr.v9n1p219.

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The dividend is the reward of shareholders of an organization in exchange for time and risk. For maximizing shareholder’s wealth, optimum dividend payout ratio is essential. The prime objective of this paper is to identify impulse of dividend payment decision of listed pharmaceutical companies in Dhaka Stock Exchange of Bangladesh. Dividend payment decision is the dependent variable and profitability, firm’s size, financial leverage, growth, and agency costs are taken as explanatory variables in this study. Collected secondary data are analyzed by econometrics software Eviews 8 through least s

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Letaifa, Wissal Ben. "Study of dividend policies in periods pre and post-merger." Corporate Ownership and Control 13, no. 2 (2016): 615–18. http://dx.doi.org/10.22495/cocv13i2c3p10.

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This study examines the policies of pre- and post- merger dividends. The emphasis here is on the timing of payment of dividends and its signal role when the merger is considered successful. Our analysis is purely descriptive and involves the merger of CVS and Caremark listed on the NY Stock Exchange and conducted in 2006. The findings indicate the relevance of dividend payment timing as the merger of success signal since acquiring company tries to improve its payment timing and the amount to be paid. This proves the existence of complementarities between the signaling hypothesis by the amount

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Zheng, Lina, and YongGang Yao. "Impact of Venture Capital on the Dividend Policy of Listed Companies and Management Platform Design." Scientific Programming 2022 (June 6, 2022): 1–17. http://dx.doi.org/10.1155/2022/9869636.

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This paper uses the data of Chinese A-share listed companies from 2003 to 2019 to study the impact of venture capital holdings on the dividend policy of listed companies. The research findings show that venture capital holdings increase the willingness to pay cash dividends and the payment level. This conclusion still stands after using the PSM matching method and other robustness methods, indicating that there is causality between venture capital holdings and the dividend policy of listed companies. Further research finds that the course of action for venture capital holdings to increase the

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Kamran, Khan, Houda Chakir Chakir Lamrani, and Shah Khalid. "The impact of dividend policy on firm performance: A case study of the industrial sector." Risk Governance and Control: Financial Markets and Institutions 9, no. 3 (2019): 23–31. http://dx.doi.org/10.22495/rgcv9i3p2.

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A dividend is a part of the profit that is distributed among the shareholders. When there is more profit, it increases the dividends which, in turn, increase the stock price of the firm and vice versa, when there is less profit it decreases the dividend payment and the stock price. In Pakistan the companies have no standard policy, therefore, they are open to decide about the dividend payment. The main objectives of the research are aimed at analyzing and investigating factors which affect firm performance such as dividend policy, capital structure short and long term, firm size and firm growt

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Zhu, Dan, Cuixia Chen, and Bing Liu. "Optimal Debt Ratio and Dividend Payment Policies for Insurers with Ambiguity." Mathematics 12, no. 1 (2023): 40. http://dx.doi.org/10.3390/math12010040.

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This study considers the optimal debt ratio and dividend payment policies for an insurer concerned about model misspecification. We assume that the insurer can invest all of its asset to the financial market and the ambiguity may exist in the risky asset. Taking into account the ambiguous situation, the insurer aims to maximize the expected utility of a discounted dividend payment until it ruins. Under some assumption, we prove that there exists classical solutions of the optimal debt ratio, dividend payment policies, and value functions that show that the existence of ambiguity can affect the

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NKEKI, CHARLES I. "OPTIMAL INVESTMENT STRATEGY WITH DIVIDEND PAYING AND PROPORTIONAL TRANSACTION COSTS." Annals of Financial Economics 13, no. 01 (2018): 1850001. http://dx.doi.org/10.1142/s201049521850001x.

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A Markowitz’s mean-variance investment strategy is studied in a market with a stock, a bond, dividend payment and proportional transaction costs. Two control variables, portfolio strategy and dividend are considered in this paper. The control variables are inherent with a finite time horizon. This paper aims at minimizing the investment portfolio risk and maximizing the dividend process of the investment over time subject to portfolio allocation strategy, expected net wealth and investment costs over time. The method of Lagrangian multiplier was adopted. As a result, the optimal portfolio and

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Yousef, Ibrahim, Sailesh Tanna, and Sudip Patra. "Testing dividend life-cycle theory in the Islamic and conventional banking sectors of GCC countries." Journal of Islamic Accounting and Business Research 12, no. 2 (2021): 276–300. http://dx.doi.org/10.1108/jiabr-04-2020-0115.

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Purpose This paper aims to present a comparative evaluation of the determinants affecting the likelihood of dividend payouts by Islamic and conventional banks in the Gulf Cooperation Council (GCC) countries. Design/methodology/approach The authors used the dynamic panel logit model to test dividend life-cycle theory by analyzing the determinants affecting the likelihood of dividend payouts by GCC banks. Moreover, the authors used multinomial logistic regressions to extend the results where the dependent variable is a nominal variable equal to 1 for non-payment of dividends, 2 for lower dividen

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Pieloch-Babiarz, Aleksandra. "Catering approach to the dividend payment policy on the Warsaw Stock Exchange." Equilibrium 10, no. 2 (2015): 183. http://dx.doi.org/10.12775/equil.2015.019.

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Dividend payment policy is a significant issue of neoclassical theories of finance. One of the concepts which poses a challenge tothe neoclassical approach to dividend payment policy is behavioural finance, including a catering theory of dividends. The aim of the article is to examine whether and to what extent the catering theory of dividends is reflected in the behaviour of shareholders and managers on the WSE. The opportunity to accomplish the aim of this paper was conditioned by the empirical verification of research hypothesis stipulating that the number of dividend payers increases if th

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Olufemi Olusegun*, FALADE, Abidemi, NEJO, Femi Michael, and GBEMIGUN, Catherine Omoleye. "Managerial Ownership and Firm Value of Selected Nigeria Listed Manufacturing Companies: Does Dividend Payment Policy Really Mediate?" Noble International Journal of Economics and Financial Research, no. 64 (October 20, 2021): 78–90. http://dx.doi.org/10.51550/nijefr.64.78.90.

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Shareholders play a vital role in an organization through parting with their funds which determines the continuity and survival of the organization. As a result of this, regular payment of dividends as at when due to different shareholders is a concerned of every stakeholder in an organization. Therefore, this study examined the mediating effect of dividend payment policy on the relationship between managerial ownership and firm value of listed manufacturing companies in Nigeria. This study focused on ten manufacturing firms that are listed on Nigeria Stock Exchange (NSE) from 2010 to 2019 usi

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H, Andre Steven, and Dewi Khornida Marheni. "THE The Effect of Gender Diversity of the Board of Directors and Board of Commissioners on Dividend Payment Policy." jesya 8, no. 1 (2025): 658–71. https://doi.org/10.36778/jesya.v8i1.1955.

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The purpose of this study is to analyze the effect of the proportion of female directors, the proportion of female commissioners, female independent directors, and female independent commissioners on dividend payment policy in Foods and Beverages companies listed on the Indonesia Stock Exchange in 2019-2023. In this study, dividend payment policy is the dependent variable, the proportion of female directors, the proportion of female commissioners, female independent directors, and female independent commissioners are independent variables. The sample used 18 Foods and Beverages companies in 20

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