The determinants of corporate dividend policy in Poland
The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the dif...
Ausführliche Beschreibung
Autor*in: |
Rój, Justyna [verfasserIn] |
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Format: |
E-Artikel |
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Sprache: |
Englisch |
Erschienen: |
2019 |
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Rechteinformationen: |
Open Access Namensnennung 4.0 International ; CC BY 4.0 |
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Übergeordnetes Werk: |
Enthalten in: Mokslo darbai. Ekonomika - Vilniaus Universitetas, Vilnius : [Verlag nicht ermittelbar], 2009, 98(2019), 1, Seite 96-110 |
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Übergeordnetes Werk: |
volume:98 ; year:2019 ; number:1 ; pages:96-110 |
Links: |
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DOI / URN: |
10.15388/Ekon.2019.1.6 |
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Katalog-ID: |
1728039290 |
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10.15388/Ekon.2019.1.6 doi (DE-627)1728039290 (DE-599)KXP1728039290 DE-627 ger DE-627 rda eng Rój, Justyna verfasserin aut The determinants of corporate dividend policy in Poland Justyna Rój 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the differentiation of factors affecting the dividend policy and their interaction. Thus, with this study, it would be possible to give a view on the dividend policy of corporations listed on the WSE for the period from 2008 to 2016. The study covers non-financial companies listed on the WSE in Poland. The Tobit regression is used to identify the impact of factors influencing the companies' distribution of dividends. The variables that may explain a firm's dividend decision and that were used in this study are selected based on the theory and available empirical researches and then also determined by data availability. These are profitability, investment opportunities, measures of size, leverage, and liquidity. As a result of this study, the factors that determine the dividend policy of companies were verified in the context of the companies listed on the WSE. Moreover, it indicates which of the existing theories on dividend policy could be applied to the capital markets of Poland. Thus, it provides new insights into the theory of dividend policy. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/ Enthalten in Vilniaus Universitetas Mokslo darbai. Ekonomika Vilnius : [Verlag nicht ermittelbar], 2009 98(2019), 1, Seite 96-110 Online-Ressource (DE-627)818490489 (DE-600)2810340-3 (DE-576)426494008 1392-1258 nnns volume:98 year:2019 number:1 pages:96-110 https://www.journals.vu.lt/ekonomika/article/view/12702/11338 Verlag kostenfrei https://doi.org/10.15388/Ekon.2019.1.6 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2009 GBV_ILN_2014 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2129 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 98 2019 1 96-110 26 01 0206 3744550265 x1z 31-08-20 2403 01 DE-LFER 3758493676 00 --%%-- --%%-- n --%%-- l01 18-09-20 2403 01 DE-LFER https://doi.org/10.15388/Ekon.2019.1.6 2403 01 DE-LFER https://www.journals.vu.lt/ekonomika/article/view/12702/11338 26 00 DE-206 56 dividend policy 26 00 DE-206 56 corporate finance 26 00 DE-206 56 dividend payout 26 00 DE-206 56 Warsaw Stock Exchange |
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10.15388/Ekon.2019.1.6 doi (DE-627)1728039290 (DE-599)KXP1728039290 DE-627 ger DE-627 rda eng Rój, Justyna verfasserin aut The determinants of corporate dividend policy in Poland Justyna Rój 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the differentiation of factors affecting the dividend policy and their interaction. Thus, with this study, it would be possible to give a view on the dividend policy of corporations listed on the WSE for the period from 2008 to 2016. The study covers non-financial companies listed on the WSE in Poland. The Tobit regression is used to identify the impact of factors influencing the companies' distribution of dividends. The variables that may explain a firm's dividend decision and that were used in this study are selected based on the theory and available empirical researches and then also determined by data availability. These are profitability, investment opportunities, measures of size, leverage, and liquidity. As a result of this study, the factors that determine the dividend policy of companies were verified in the context of the companies listed on the WSE. Moreover, it indicates which of the existing theories on dividend policy could be applied to the capital markets of Poland. Thus, it provides new insights into the theory of dividend policy. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/ Enthalten in Vilniaus Universitetas Mokslo darbai. Ekonomika Vilnius : [Verlag nicht ermittelbar], 2009 98(2019), 1, Seite 96-110 Online-Ressource (DE-627)818490489 (DE-600)2810340-3 (DE-576)426494008 1392-1258 nnns volume:98 year:2019 number:1 pages:96-110 https://www.journals.vu.lt/ekonomika/article/view/12702/11338 Verlag kostenfrei https://doi.org/10.15388/Ekon.2019.1.6 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2009 GBV_ILN_2014 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2129 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 98 2019 1 96-110 26 01 0206 3744550265 x1z 31-08-20 2403 01 DE-LFER 3758493676 00 --%%-- --%%-- n --%%-- l01 18-09-20 2403 01 DE-LFER https://doi.org/10.15388/Ekon.2019.1.6 2403 01 DE-LFER https://www.journals.vu.lt/ekonomika/article/view/12702/11338 26 00 DE-206 56 dividend policy 26 00 DE-206 56 corporate finance 26 00 DE-206 56 dividend payout 26 00 DE-206 56 Warsaw Stock Exchange |
allfields_unstemmed |
10.15388/Ekon.2019.1.6 doi (DE-627)1728039290 (DE-599)KXP1728039290 DE-627 ger DE-627 rda eng Rój, Justyna verfasserin aut The determinants of corporate dividend policy in Poland Justyna Rój 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the differentiation of factors affecting the dividend policy and their interaction. Thus, with this study, it would be possible to give a view on the dividend policy of corporations listed on the WSE for the period from 2008 to 2016. The study covers non-financial companies listed on the WSE in Poland. The Tobit regression is used to identify the impact of factors influencing the companies' distribution of dividends. The variables that may explain a firm's dividend decision and that were used in this study are selected based on the theory and available empirical researches and then also determined by data availability. These are profitability, investment opportunities, measures of size, leverage, and liquidity. As a result of this study, the factors that determine the dividend policy of companies were verified in the context of the companies listed on the WSE. Moreover, it indicates which of the existing theories on dividend policy could be applied to the capital markets of Poland. Thus, it provides new insights into the theory of dividend policy. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/ Enthalten in Vilniaus Universitetas Mokslo darbai. Ekonomika Vilnius : [Verlag nicht ermittelbar], 2009 98(2019), 1, Seite 96-110 Online-Ressource (DE-627)818490489 (DE-600)2810340-3 (DE-576)426494008 1392-1258 nnns volume:98 year:2019 number:1 pages:96-110 https://www.journals.vu.lt/ekonomika/article/view/12702/11338 Verlag kostenfrei https://doi.org/10.15388/Ekon.2019.1.6 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2009 GBV_ILN_2014 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2129 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 98 2019 1 96-110 26 01 0206 3744550265 x1z 31-08-20 2403 01 DE-LFER 3758493676 00 --%%-- --%%-- n --%%-- l01 18-09-20 2403 01 DE-LFER https://doi.org/10.15388/Ekon.2019.1.6 2403 01 DE-LFER https://www.journals.vu.lt/ekonomika/article/view/12702/11338 26 00 DE-206 56 dividend policy 26 00 DE-206 56 corporate finance 26 00 DE-206 56 dividend payout 26 00 DE-206 56 Warsaw Stock Exchange |
allfieldsGer |
10.15388/Ekon.2019.1.6 doi (DE-627)1728039290 (DE-599)KXP1728039290 DE-627 ger DE-627 rda eng Rój, Justyna verfasserin aut The determinants of corporate dividend policy in Poland Justyna Rój 2019 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier DE-206 Open Access Controlled Vocabulary for Access Rights http://purl.org/coar/access_right/c_abf2 The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the differentiation of factors affecting the dividend policy and their interaction. Thus, with this study, it would be possible to give a view on the dividend policy of corporations listed on the WSE for the period from 2008 to 2016. The study covers non-financial companies listed on the WSE in Poland. The Tobit regression is used to identify the impact of factors influencing the companies' distribution of dividends. The variables that may explain a firm's dividend decision and that were used in this study are selected based on the theory and available empirical researches and then also determined by data availability. These are profitability, investment opportunities, measures of size, leverage, and liquidity. As a result of this study, the factors that determine the dividend policy of companies were verified in the context of the companies listed on the WSE. Moreover, it indicates which of the existing theories on dividend policy could be applied to the capital markets of Poland. Thus, it provides new insights into the theory of dividend policy. DE-206 Namensnennung 4.0 International CC BY 4.0 cc https://creativecommons.org/licenses/by/4.0/ Enthalten in Vilniaus Universitetas Mokslo darbai. Ekonomika Vilnius : [Verlag nicht ermittelbar], 2009 98(2019), 1, Seite 96-110 Online-Ressource (DE-627)818490489 (DE-600)2810340-3 (DE-576)426494008 1392-1258 nnns volume:98 year:2019 number:1 pages:96-110 https://www.journals.vu.lt/ekonomika/article/view/12702/11338 Verlag kostenfrei https://doi.org/10.15388/Ekon.2019.1.6 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_31 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_152 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2009 GBV_ILN_2014 GBV_ILN_2034 GBV_ILN_2055 GBV_ILN_2108 GBV_ILN_2111 GBV_ILN_2129 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4046 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 98 2019 1 96-110 26 01 0206 3744550265 x1z 31-08-20 2403 01 DE-LFER 3758493676 00 --%%-- --%%-- n --%%-- l01 18-09-20 2403 01 DE-LFER https://doi.org/10.15388/Ekon.2019.1.6 2403 01 DE-LFER https://www.journals.vu.lt/ekonomika/article/view/12702/11338 26 00 DE-206 56 dividend policy 26 00 DE-206 56 corporate finance 26 00 DE-206 56 dividend payout 26 00 DE-206 56 Warsaw Stock Exchange |
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determinants of corporate dividend policy in poland |
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The determinants of corporate dividend policy in Poland |
abstract |
The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the differentiation of factors affecting the dividend policy and their interaction. Thus, with this study, it would be possible to give a view on the dividend policy of corporations listed on the WSE for the period from 2008 to 2016. The study covers non-financial companies listed on the WSE in Poland. The Tobit regression is used to identify the impact of factors influencing the companies' distribution of dividends. The variables that may explain a firm's dividend decision and that were used in this study are selected based on the theory and available empirical researches and then also determined by data availability. These are profitability, investment opportunities, measures of size, leverage, and liquidity. As a result of this study, the factors that determine the dividend policy of companies were verified in the context of the companies listed on the WSE. Moreover, it indicates which of the existing theories on dividend policy could be applied to the capital markets of Poland. Thus, it provides new insights into the theory of dividend policy. |
abstractGer |
The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the differentiation of factors affecting the dividend policy and their interaction. Thus, with this study, it would be possible to give a view on the dividend policy of corporations listed on the WSE for the period from 2008 to 2016. The study covers non-financial companies listed on the WSE in Poland. The Tobit regression is used to identify the impact of factors influencing the companies' distribution of dividends. The variables that may explain a firm's dividend decision and that were used in this study are selected based on the theory and available empirical researches and then also determined by data availability. These are profitability, investment opportunities, measures of size, leverage, and liquidity. As a result of this study, the factors that determine the dividend policy of companies were verified in the context of the companies listed on the WSE. Moreover, it indicates which of the existing theories on dividend policy could be applied to the capital markets of Poland. Thus, it provides new insights into the theory of dividend policy. |
abstract_unstemmed |
The purpose of this research is to examine the factors that determine the dividend policy of non-financial firms listed on the Warsaw Stock Exchange (WSE) in Poland and that of the annually paid dividends. Up to now, many empirical studies related to dividend policy were carried out, showing the differentiation of factors affecting the dividend policy and their interaction. Thus, with this study, it would be possible to give a view on the dividend policy of corporations listed on the WSE for the period from 2008 to 2016. The study covers non-financial companies listed on the WSE in Poland. The Tobit regression is used to identify the impact of factors influencing the companies' distribution of dividends. The variables that may explain a firm's dividend decision and that were used in this study are selected based on the theory and available empirical researches and then also determined by data availability. These are profitability, investment opportunities, measures of size, leverage, and liquidity. As a result of this study, the factors that determine the dividend policy of companies were verified in the context of the companies listed on the WSE. Moreover, it indicates which of the existing theories on dividend policy could be applied to the capital markets of Poland. Thus, it provides new insights into the theory of dividend policy. |
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title_short |
The determinants of corporate dividend policy in Poland |
url |
https://www.journals.vu.lt/ekonomika/article/view/12702/11338 https://doi.org/10.15388/Ekon.2019.1.6 |
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