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Article

Сравнение подходов исследования дивидендной политики компаний развитого и развивающегося рынков капитала

Корпоративные финансы. 2010. № 1(13). С. 95-105.
Макарова Е. А.

There are a lot of theories that explain the company's dividend policy. Most of them confirm the relationship between dividend policy and firm value. The decision to pay dividends is affected by many factors. These factors can vary significantly from country to country. The article represents an overview of the literature on dividend policy in developed and developing capital markets. It is focused on different aspects of dividend policy in developed capital markets: the information asymmetry, taxes, the emergence of agency costs, stock repurchases as an alternative method of payout policy. The basic determinants of dividend policy in developing countries are also analyzed.