FACTORES EXPLICATIVOS DEL REPARTO DE DIVIDENDOS A CUENTA EN LAS EMPRESAS ESPAÑOLAS

Isidoro Guzmán ()
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Isidoro Guzmán: Universidad Politécnica de Cartagena

Working Papers. Serie EC from Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie)

Abstract: This paper analyzes the relationship between economic-financial ratios and thedecision of distributing interim dividends by Spanish firms. With that purpose, we takea sample of non-financial companies quoting in the Spanish Stock Market during theperiod from 1999 to 2001. We choose a multivariate analysis in order to determinethe significant factors affecting the behavior of the companies when paying dividends inadvance. The results show that the ratios related with the firm productivity contain thehighest explanatory power regarding the characteristics analyzed. El presente trabajo analiza la relación de causalidad de la información contable asociada al reparto de "dividendos a cuenta", utilizando como variables predictoras un conjunto de ratios económico-financieros. El trabajo se realizó sobre una muestra de sociedades no financieras cotizadas en el mercado español durante los ejercicios 1999 a 2001, practicándose un doble análisis multivariante en orden a establecer los factores regresores relacionados con la distribución de dividendos interinos, mostrando los resultados obtenidos que las variables-ratios con mayor poder explicativo se relacionan generalmente con la productividad empresarial.

Keywords: dividendos; ratios financieros; información contable; análisis factorial; regresión logit dividends; financial ratios; accounting information; factorial analysis; logit regression (search for similar items in EconPapers)
JEL-codes: G35 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2004-03
New Economics Papers: this item is included in nep-cfn, nep-fin and nep-fmk
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Persistent link: https://EconPapers.repec.org/RePEc:ivi:wpasec:2004-09

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