Factors Influencing Dividend Policy Decisions of NASDAQ Firms.
This study reports the results of a 1999 survey of Nasdaq-listed firms. Respondents provided information about the importance of 22 different factors that influence their dividend policy. Our results suggest that many managers of Nasdaq firms make dividend decisions consistent with Lintner's (1956) survey results and model. The results also show significant differences between the manager responses of financial and non-financial firms on nine of the 22 factors. This finding implies the presence of industry effects on dividend policy decisions. In general, the same factors that are important to Nasdaq firms are also important to NYSE firms. Copyright 2001 by MIT Press.
Available from: H. Kent Baker
- "Survey evidence such as Baker and Powell (1999), Baker et al. (2001), and Brav et al. (2005) support Lintner's (1956) findings. This evidence confirms that managers believe dividends should be related to permanent rather than temporary increases in profits. "
- "Baker et al. (1985) and Baker and Powell (2000) find that the most important factors influencing dividend policy by corporations listed on the New York Stock Exchange ( NYSE) are the level of current and expected future earnings and the pattern or continuity of past dividends. Baker et al. (2001) report similar results for NASDAQ firms. "
Available from: Shrikant Krupasindhu Panigrahi
- "First is to obtain both dividend and earnings, second is to obtain dividends and finally to get earnings. Dividend plays an important role on share price than retained earnings, which was also empirically evidenced by , ,,. "
Data provided are for informational purposes only. Although carefully collected, accuracy cannot be guaranteed. The impact factor represents a rough estimation of the journal's impact factor and does not reflect the actual current impact factor. Publisher conditions are provided by RoMEO. Differing provisions from the publisher's actual policy or licence agreement may be applicable.