Corporate dividend decisions and dividend smoothing
نویسندگان
چکیده
منابع مشابه
Dividend Smoothing and Predictability
The relative predictability of returns and dividends is a central issue because it forms the paradigm to interpret asset price variation. A little studied question is how dividend smoothing, as a choice of corporate policy, affects predictability. We show that even if dividends are supposed to be predictable without smoothing, dividend smoothing can bury this predictability. Because aggregate d...
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Although firms have been distributing dividends to their shareholders for four centuries (Baskin, 1988), the motivation for this corporate policy is under debate in the academic community. In an early paper, Black (1976, p. 5) coined the term the “dividends puzzle” to illustrate the poor understanding of dividend payment policy: “The harder we look at the dividend picture, the more it seems lik...
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T he U.S. government subjects corporate dividends to double taxation: It first taxes corporate income, then taxes the same income again when shareholders receive dividends paid out of corporate income. Until 2003, individuals were taxed on dividend income at the same rates as on other forms of income, resulting in overall taxes on dividends much higher than those in most other countries (PriceW...
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The present study analyzes the results of 2001 survey of 81 CFOs of bt-500 companies and her most valuable PSUs in India to find out the determinants of the dividend policy decisions of the corporate India. It uses factor analytic framework on the CFOs' responses to capture the determinants of the dividend policy of corporate India. Most of the firms have target dividend payout ratio and divide...
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ژورنال
عنوان ژورنال: International Journal of Managerial Finance
سال: 2017
ISSN: 1743-9132
DOI: 10.1108/ijmf-10-2016-0191