Dividend payout research proposal sample
If you do not like the background color, you can change it by highlighting the color you prefer dividend payout research proposal sample the scroll box below. A number of researchers have provided insights, theoretical as well as empirical, into dividend payout research proposal sample dividend policy puzzle.
However, the issue as to why firms pay dividends is as yet unresolved. Several rationales for a corporate dividend policy have been proposed in the literature, but there is no unanimity among researchers. Everyone, however, agrees that the issue is important, as dividend article source is one of the most commonly observed phenomenon in corporations worldwide.
The issue of dividend policy is important for several reasons. First, researchers have found that a firm uses dividends as a mechanism for financial signaling to the outsiders regarding the stability and growth prospects of the firm. Secondly, dividends play an important role dividend payout research a firm's capital structure. Yet another set of studies have established the relationship between firm dividend dividend payout research proposal sample investment decisions.
According to the "residual dividend" theory, a firm will pay dividends only if it help writing a personal for college not have profitable investment opportunities, i. Further, a firm ' s stock price is dividend payout research proposal sample, among other things, by the dividend pattern.
Firms usually do not like to reduce or eliminate dividend payments [Woolridge and Ghosh, and ], hence, they make /terrorism-essays-for-students.html of dividend initiation or dividend payout research proposal sample only when they are confident dividend payout research proposal sample sample keeping up with their good performance.
Indeed, the market value of a dividend payout research proposal sample is dependent upon its stock price. Proposal sample of the most popular models for stock valuation the dividends discounting model or DDM relies upon the assumption that the firm will pay dividends until eternity.
Despite the rich literature on the overall issue of dividend policy, most studies exclude regulated firms from their analyses.
The common explanation for excluding regulated firms is that regulators, directly or indirectly, dictate how much dividend the firm can pay. This paper, on the other hand, uses several financial variables to explain the dividend payout differences in the dividend policy of both regulated and unregulated firms.
The results indicate that the reasoning proposed by the literature on unregulated firms is correct. Indeed, the signs of parameter estimates correspond with earlier studies.
The study goes a step further, however, in studying regulated firms. While comparing regulated dividend payout research proposal sample unregulated firms, the study reveals some interesting results. On research proposal href="/french-dissertations-database.html">read article, a regulated firm is less risky; has a lower growth rate; has much fewer insiders sample its common stock; and has fewer investment opportunities, but pays a sample percentage in dividends.
Possible explanations for this are provided in this paper. While the issue of dividend policy is far more pervasive, this study tries to address the determinants of dividend payout for firms.
Specifically, it is concerned with addressing what factors determine the dividend payout research proposal sample payout rate.
Hence, for the purpose of this paper, a firm ' s dividend policy is proxied by its dividend payout rate, which is defined as the ratio of dividends per share and earnings per share.
The remainder of the paper is dividend payout research proposal sample as follows: Section II provides a brief review of the relevant literature.
Determinants of Dividend Payout Policy: Regulated versus Unregulated Firms
Section III presents the description of the data and dividend payout research proposal sample empirical methods used. Section IV contains the results, and Section V concludes the paper /admissions-job-cover-letter-sample.html a summary.
The theory of industrial organization tells us that there can proposal sample three kinds of regulation. Price regulation, geographic market regulation, and product market regulation.
It is hypothesized that regulation impacts dividend payout research proposal sample policy for the following reasons: Consequently, the value and the agency costs of monitoring by insiders is dividend payout research proposal sample.
Most dividend payout research proposal sample on dividend policy, however, either exclude regulated firms, or analyze them separately. Miller and Modigliani [] view dividend payment as irrelevant.
According to them, dividend payout research proposal sample investor is indifferent between dividend payment and capital gains. Black [] poses the question again, " Why do corporations pay dividends?
The harder we try to explain the phenomenon, the more it seems like a puzzle, with pieces dividend payout research proposal sample just do not fit together. After over two decades since Black ' s paper, the dividend puzzle persists. Some researchers emphasize the informational content of dividends.
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