Download or read book Regulation Influence on the Dividend Policy of the Istanbul Stock Exchange ISE Corporations written by Cahit Adaoglu and published by . This book was released on 2019 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this study, the regulation influence on the dividend policy of the ISE corporations is analyzed qualitatively and quantitatively. In 1995, there has been a significant change in the dividend regulations granting extensive flexibility in the dividend policy decision making for the corporations that are traded in the ISE. The empirical results show that for the period before the 1995 regulatory change, there are no industrial differences in the cash dividend policy due to the regulations that left little room for managers in determining their cash dividend policies. However, significant industrial differences in the cash dividend policy are found for the period after the 1995 regulatory change. Moreover, there is a substantial decrease in the median cash dividend payout ratios and ISE corporations tended to use the resources for internal financing. Additionally, ISE corporations collect back the distributed cash dividends through simultaneous rights issues for new equity. The repeated test results using net dividend payouts are similar to the results of cash dividend payouts.
Download or read book Dividend Policy of the Istanbul Stock Exchange ISE Industrial Corporations written by Cahit Adaoglu and published by . This book was released on 2018 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study aims to find out whether the disappearing dividends, the decline in the number of dividend payers, the size effect and the increasing dividend/earnings concentration found in several developed and emerging markets exist among the industrials traded in the ISE. The study also analyzes the effects of the reinstatement of mandatory dividend policy in 2003. Using univariate statistical tests, we detect a size effect as well as a high level but stable dividend/earnings concentration. We find a significant decrease in the number of dividend payers, but we also detect an increasing level of real/nominal dividends driven by the high dividend/earnings concentration and the increasing level of earnings. The reinstatement of the mandatory dividend policy regulation in 2003 has not been successful in changing the payout policy of industrials.
Download or read book Instability in the Dividend Policy of the Istanbul Stock Exchange ISE Corporations written by Cahit Adaoglu and published by . This book was released on 2019 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dividend policy behaviour of corporations operating in emerging markets is significantly different from the widely accepted dividend policy behaviour of corporations operating in developed markets. This study provides evidence from the Istanbul Stock Exchange (ISE), an emerging European stock market, and analyses empirically whether the ISE corporations follow stable cash dividend policies in a regulatory environment that imposed mandatory dividend policies. Unlike the empirical results supporting the stable dividend policy behaviour of corporations operating in developed markets, the empirical results show that the ISE corporations follow unstable cash dividend policies and the main factor that determines the amount of cash dividends is the earnings of the corporation in that year.
Download or read book A Survey of Managerial Perspective on Corporate Dividend Policy written by Narman Kuzucu and published by . This book was released on 2016 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research paper examines the corporate dividend payout behaviours of non-financial firms from Istanbul Stock Exchange (Borsa Istanbul). Survey method is conducted to investigate managerial views on corporate dividend policy. The study investigates whether the evidence in Turkish stock market on dividend policy is similar to the European and the U.S. firms' results which are reported earlier by other studies, and moreover in what extent Lintner's (1956) findings on dividends is supported by today's listed firms in an emerging market. The financial managers from 38 firms out of 216 non-financial companies responded the survey. The results show that there is a significant positive relationship between cash dividends and earnings. Earnings are viewed as the most important factor in dividend decision like in European and the U.S. firms. Sustainable change in earnings, stability and level of future earnings, and the desire to distribute a proportion of earnings to shareholders are the common determinants of dividend policy. The majority of the respondents reports that they target dividends. Dividend yield is the most common measure for dividend targeting. Share repurchases are not viewed as alternative to dividend payouts unlike the U.S. firms. The study finds supporting evidences for bird-in-the-hand and signalling hypotheses, and Lintner's model.
Download or read book Finance and Sustainability written by Agnieszka Bem and published by Springer. This book was released on 2018-07-01 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume covers the proceedings of the ZAFIN Finance and Sustainability conference, organized by the Wroclaw University of Economics in cooperation with the Corvinus University of Budapest and the University of Economics in Prague. The authors analyze a variety of issues related to recent finance problems, including corporate finance, public finance, monetary and fiscal policy issues, and risk management. The book also discusses topics related to sustainable finance, the transition to green economies, corporate sustainability and sustainable development. The target audience for this book includes researchers at universities and research and policy institutions, graduate students, and practitioners in economics, finance and international economics working for private or government institutions.
Download or read book The Relationship Between Firms Dividend Policies Dividend Announcements And Firm Value written by Merve Arslan and published by Nida Yayıncılık. This book was released on 2023-10-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction In today’s finance literature, the main goal of company owners and managers is to maximize the market value of their companies. There are three main decisions that determine the value of companies. These decisions (Akgüç, 2010: 5); • Investment decisions, • Financing decisions, • Dividend policy decisions. When making decisions regarding the company’s investment, financing and dividend distribution, the financial manager must investigate which decision will maximize the company value and implement it. Dividend policy includes decisions about how much of the company’s profit earned at the end of the year will be distributed to shareholders as dividends and how much will not be distributed and left within the company. Investors prefer to invest their savings in stocks that will provide regular and high dividend yields. However, expecting the company to pay high dividends and expecting it to grow are two conflicting goals. A company that distributes high dividends will do less self-financing. The dividend policy determined by company managers should not hinder the growth of the company and should also meet the dividend expectations of the shareholders (Demirel, 2014: 93). Investors will prefer to invest their savings in the stocks of companies that pay stable dividends. If companies pay dividends consistently, investors will perceive the company as being in good shape. This study aims to determine whether companies announcing to the public that they will pay dividends will cause abnormal returns in the stocks of the relevant companies. In other words, the impact of companies’ decision to distribute dividends on the value of the relevant companies was investigated. According to the efficient markets hypothesis, in semi-strong form efficient markets, firms cannot obtain abnormal returns on their stocks with any information they disclose to the public. With this study, it will be determined how the company value is affected when companies’ dividend distribution decisions are announced to the public. Moreover, it will be revealed to what extent the capital market in Turkey is effective in semi-strong form.
Download or read book Dividend Policy and Corporate Governance written by Luis Correia da Silva and published by Oxford University Press, USA. This book was released on 2004-02-26 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: An analysis of the extent to which dividend payout policy differs from country to country. In particular the authors investigate the differences between the UK market-oriented and the German blockholder-oriented systems.
Download or read book Corporate Dividend Policy written by Rudra Prasanna Mahapatra and published by . This book was released on 2004 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study with reference to India.
Download or read book Emerging Markets written by Greg N. Gregoriou and published by CRC Press. This book was released on 2009-06-26 with total page 870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although emerging market economies consist of 50% of the global population, they are relatively unknown. Filling this knowledge gap, Emerging Markets: Performance, Analysis and Innovation compiles the latest research by noteworthy academics and money managers from around the world. With a focus on both traditional emerging markets and new areas, su
Download or read book Corporate Dividend Policy in India written by P. K. Khurana and published by . This book was released on 1985 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dividend Policy and Behavior in Emerging Markets written by Jack D. Glen and published by World Bank Publications. This book was released on 1995 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Dividend Policy written by John A. Brittain and published by . This book was released on 1966 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Non bank Financial Institutions and Capital Markets in Turkey written by Lalit Raina and published by World Bank Publications. This book was released on 2003-01-01 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Currently, Turkey's financial services industry is in an early stage of development with credit markets dominated by banking and capital markets dominated by Government securities. Longstanding macro-economic instability and inflation have discouraged investment in financial assets and crowded out funding for the private sector. The resulting lack of depth and breadth has made the financial sector in Turkey vulnerable to shocks resulting in repeated crises, and has diminished its intermediation efficiency. This study analyzes the state of development and prospects for future growth of Turkish non-bank financial institutions and capital markets. It identifies the key policy issues that should be addressed in order to develop non-bank financial institutions in Turkey. Some of the themes included in the discussion and policy recommendations are: mobilizing savings; building an institutional investor base comprising insurance companies, private pension funds, and mutual funds; developing equity markets, debt markets, and derivative markets; developing leasing, factoring and venture capital companies; and strengthening confidence in financial markets through improved corporate governance.
Download or read book The Effect of Corporate extra Dividend Policy on the Market Value of Its Stock written by Stuart Walter Booth and published by . This book was released on 1974 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Dividend Policy and Behaviour written by I.M. Pandey and published by . This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Influence of Tax Planning Dividend Policy and Institutional Ownership on Firm Value written by Muhammad Tafsir and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study aims to identify & analyze the impact of tax planning, dividend policy & corporate ownership on the business cost of manufacturing companies in the food and beverage sub-sector traded on the Indonesian Stock Exchange for 2017-2020. The data collection uses secondary data from financial reports available at www.idx.co.id and shares 104 data for the period 2017-2020 of manufacturing companies in the Indonesian Stock Exchange-listed food and beverage sub-sector. Observations. The samples taken were 36 observations. The results of the study of data variables were tested against the classical hypothesis in the form of the normality hypothesis, the multicollinearity hypothesis and the heteroscedasticity hypothesis. The data analysis method uses multiple linear regression and hypothesis testing; after the data collected, the data is analyzed using multiple linear regression and hypothesis testing; after the data is collected, the data is analyzed. Use the Statistics Product and Service Solution (SPSS) version 21 program. The results of the survey show that the tax plan asa, measured by the effective tax rate, has a negative impact on corporate value with little impact. Dividend policies measured using the Dividend Payment Rate have a significant positive effect on a company's value. Institutional Ownership positively Price Book value.
Download or read book METU Studies in Development written by and published by . This book was released on 1992 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt:
