- Tytuł:
- Signaling theory in dividend policy
- Autorzy:
- Bogołębska, Justyna
- Powiązania:
- https://bibliotekanauki.pl/articles/27313649.pdf
- Data publikacji:
- 2022
- Wydawca:
- Politechnika Śląska. Wydawnictwo Politechniki Śląskiej
- Tematy:
-
finance
signaling theory
dividend policy
finanse
teoria sygnalizacji
polityka dywidendowa - Opis:
- Purpose: The purpose of this paper is to examine the signaling theory of dividend policy in companies that are listed on the Warsaw Stock Exchange. Design/methodology/approach: Based on the literature review of signaling theory in dividend policy, the research hypothesis was stated: There is no relationship between future earnings and current dividend payments in the financial statements of Warsaw listed companies during the studied period 2010-2021. Accordingly, an empirical model was built which consisted of an explanatory variable (dividend in subsequent years) and explanatory variables (earnings in subsequent years). In addition, a research questionnaire was conducted for individual investors who have been investing in the Warsaw Stock Exchange for more than one year. Findings: The estimation results of the econometric model confirmed that there is no relationship between the dividend paid and the profit of a given company. On the other hand, the survey results indicated that dividend policy is an important element in the decision-making process of individual investors in the stock market. Originality/value: The research in the paper is complementary in nature - the signaling theory in dividend policy was examined in a multifaceted manner - econometric testing of the model and qualitative research in the form of a survey among 100 investors.
- Źródło:
-
Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska; 2022, 158; 85--94
1641-3466 - Pojawia się w:
- Zeszyty Naukowe. Organizacja i Zarządzanie / Politechnika Śląska
- Dostawca treści:
- Biblioteka Nauki
Artykuł