Determinants of Corporate Dividend Policy in the UK market

Zhuang, Ling (2008) Determinants of Corporate Dividend Policy in the UK market. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

This paper examines the determinants of dividend policy for listed companies on

the UK market. Since the numerous empirical studies in the US market, UK

market is similar but also different from US. In order to examine the

determinants of dividend policy, this study introduces a static panel data model

for testing six hypotheses as six factors to the dividends payout within period

1990 and 2007. Those factors are represented as the main theories on the

dividends and share repurchases. The results indicate that return on assets;

market-to-book ratio, debt-equity ratio and tax issue are negatively related to

the dividend payout, whereas market capitalization of common equity is

positively correlated. Earnings per share do not explain the dividends in advance.

Consequently, this study provide in understanding the inherent characteristics

and the determinants of dividend policy.

Item Type: Dissertation (University of Nottingham only)
Keywords: dividend
Depositing User: EP, Services
Date Deposited: 03 Feb 2009
Last Modified: 22 Nov 2016 02:13
URI: http://eprints.nottingham.ac.uk/id/eprint/22386

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