Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/200115 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
Economics Discussion Papers No. 2019-41
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
Dividend policy is still a largely discussed issue in corporate finance literature. One of the main indicators used in analysing the dividend policy is the dividend payout ratio. Using a database consisting of 12,085 companies operating in 73 countries, for the period 2008-2014, the authors found that the dividend payout ratio follows a Tweedie distribution, and not a normal one. This distribution is stable over time for the entire analysed period. In addition, it describes the case of almost all the countries included in the sample. Thus, a better estimation of the probability that dividend payout ratio is lower or higher than a benchmark can be provided. Also, an analysis of dividend policy, distinctly considering payer versus non-payer companies, can offer additional important information for both practitioners and academics.
Schlagwörter: 
dividend policy
dividend payout ratio
Tweedie distribution
JEL: 
G35
C01
C51
C55
Creative-Commons-Lizenz: 
cc-by Logo
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
3.73 MB





Publikationen in EconStor sind urheberrechtlich geschützt.