Download This PaperDeterminants of Dividend Payout
14 Pages Posted: 29 Dec 2013 Last revised: 15 Jan 2014
Date Written: December 1, 2013
Abstract
This study develops an investor utility approach to the concept that dividend payout is based upon firm conditions and management objectives. The empirical version reports significant elasticity propositions consistent with the life-cycle theory or the residual income model. A comparison of the period before and after the 2008 financial crisis indicates factor stability with minimal impact.
Keywords: Dividend Payout
JEL Classification: G35, M40
Suggested Citation: Suggested Citation
Swanson, Zane L. and Krishnan, V. Sivarama, Determinants of Dividend Payout (December 1, 2013). Available at SSRN: https://ssrn.com/abstract=2372415 or http://dx.doi.org/10.2139/ssrn.2372415
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