STUDY OF DETERMINANT FACTORS OF DIVIDEND POLICY PROMOTED BY COMPANIES LISTED ON BUCHAREST STOCK EXCHANGE

Georgeta Vintila and Raluca Georgiana Moscu

Revista Economica, 2012, vol. Supplement, issue 4, 645-654

Abstract: Dividend policy is one of the most intriguing topics in financial research. Even now, economists provide considerable attention and thought to solving the dividend puzzle, resulting a large number of conflicting hypotheses, theories and explanations. This paper aims to determine the dividend policies for listed companies on Bucharest Stock Exchange and to explain their dividend payment behavior. Ten hypotheses were investigated using a series of models. So this paper investigates why companies have established different dividend policies using firm level data from Romania. The models considered the impact of firm profitability, return on assets, previous year`s dividend, ownership structure, government ownership, firm size, free cash-flow, leverage ratio, growth opportunity and market to book ratio on dividend payout ratios.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:blg:reveco:v:supplement:y:2012:i:4:p:645-654

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