Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/105315
Authors: 
Dzidic, Ante
Year of Publication: 
2014
Citation: 
[Journal:] UTMS Journal of Economics [ISSN:] 1857-6982 [Volume:] 5 [Year:] 2014 [Issue:] 1 [Pages:] 1-10
Abstract: 
This paper provides insight in dividend policy of publicly listed companies in Bosnia and Herzegovina and investigates appearance of dividend smoothing behavior. The results show increase in portion of dividend paying companies over time while dividend smoothing phenomenon is virtually non-existent. On the other hand, when companies decide to pay dividends they, on average, distribute high portion of profit to shareholders. The paper also provides discussion about capital market development, investor protection and ownership concentration as potential factors affecting importance of dividend payouts. Research results indicate that insufficiently developed capital market characterized with low investor protection and concentrated ownership structure undermine the importance of dividend smoothing practices.
Subjects: 
dividends
dividend policy
dividend stability
dividend smoothing behavior
capital market development
JEL: 
G35
Document Type: 
Article
Appears in Collections:

Files in This Item:
File
Size
271.04 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.