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Dividend payments in companies with foreign direct investors

Michal Marcin Kupc () and Krzysztof Makowski ()
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Michal Marcin Kupc: National Bank of Poland
Krzysztof Makowski: National Bank of Poland

Acta Universitatis Nicolai Copernici, Ekonomia, 2016, vol. 47, issue 1, 7-26

Abstract: Direct investors income (mainly dividends) are an important part of the negative current account balance of the balance of payments. The authors verified the impact of the factors presented in the literature on the dividend payout decisions of companies with foreign direct investors in terms of their significance and the direction of impact. In the analysis authors estimated tobit models on panel data for the years 2012–2014. The analysis was based on a balanced panel comprising 3437 units.

Keywords: dividend; foreign direct investment; determinants of the dividend policy of companies; Panel Data Tobit Models (search for similar items in EconPapers)
JEL-codes: D22 F23 G30 G32 G35 (search for similar items in EconPapers)
Date: 2016
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Handle: RePEc:cpn:umkanc:2016:p:7-26