For a sample of 94 firms, using data up to 1999, we find that retentions are more significant than dividends in determining prices of shares that are actively traded on the Egyptian stock market. However, for non-actively traded shares, the accounting book value is the most important determinant. Reductions in dividends are associated with a lack of liquidity and profitability. Dividend increas...

We investigate whether stock returns of international markets are predictable from a range of fundamentals including key financial ratios (dividend-price ratio, dividendyield, earnings-price ratio, dividend-payout ratio), technical indicators (price pressure, change in volume), and short-term interest rates. We adopt two new alternative testing and estimation methods: the improved augmented reg...

In the past few years, there have been several new developments in the way real estate investment trusts (REITs) access capital. There has been an increasing trend toward the use of unsecured debt, and REITs may also alter their dividend policy in order to generate capital internally to the extent they can. There has been little empirical research into the market's reaction to unsecured debt an...

This paper considers the optimal dividend payment problem in piecewise-deterministic compound Poisson risk models. The objective is to maximize the expected discounted dividend payout up to the time of ruin. We provide a comparative study in this general framework of both restricted and unrestricted payment schemes, which were only previously treated separately in certain special cases of risk ...

In this paper we investigate the optimal risk control and dividend distribution problem for a diffusion model with a terminal value. Usually the insurer cedes risk by means of a reinsurance contract, and pays dividends out dynamically from the surplus. Consider that the insurer is trying to balance risk control and dividend payout in terms of reinsurance and dividend distribution policies. Then...

The 2003 dividend tax reform has generated renewed interest in understanding the economic effects of dividend taxation. The reform introduced favored tax treatment of individual dividend income, whereby dividends are taxed at a rate of 15 percent instead of facing the regular progressive individual income tax schedule with a top rate of 35 percent. Several recent studies have used the 2003 tax ...

Companies operate with the aim of making a profit, by selling products (goods or services) to their customers. In addition, company also has specific goal, namely maximize welfare shareholders and profits. line financial theory. The purpose this study is discuss analyze effect debt equity ratio, dividend, payout profitability, firm size on income smoothing. research method used in associative m...

Abstract- The purpose of study is to understand the dominan determinants factor which debt asset ratio, current dividend payout ratio and firm size that will influence value in consumer goods companies Indonesia. To able maintain dan increase Indonesia economic growth, Investment consumption are two main contributor sustainable growth seek for more understanding determinant could support invest...