PAYOUT POLICY OF JAPANESE FIRMS: ANALYSIS ON THE SURVEY OF FOUR INDUSTRIES LISTED ON THE TOKYO STOCK EXCHANGE

Mitsuru Mizuno

Pacific Economic Review, 2007, vol. 12, issue 5, 631-650

Abstract: Abstract. This study reports the results of a 2007 survey of corporate managers’ views on payout policy on Japanese firms listed on the Tokyo Stock Exchange from four industries. The findings show that firms attach more importance to stable dividends than to performance linked dividends and they believe that dividends should be paid after investment spending and strengthening of the balance sheet are met. The reasons for an increase in dividends in recent years is due to consideration of fair returns to shareholders and of preventing hostile takeovers. This is a change from the traditional view on payout policy.

Date: 2007
References: View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://doi.org/10.1111/j.1468-0106.2007.00376.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:pacecr:v:12:y:2007:i:5:p:631-650

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=1361-374X

Access Statistics for this article

Pacific Economic Review is currently edited by Kenneth S. Chan and Yin-wong Cheung

More articles in Pacific Economic Review from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().