Dividend signaling or dividend smoothing? New empirical evidence from the italian insurance industry after the global financial crisis

Autor: Tobias Basse, Sebastian Reddemann, Miguel Rodriguez Gonzalez
Rok vydání: 2022
Předmět:
Zdroj: Zeitschrift für die gesamte Versicherungswissenschaft. 111:473-494
ISSN: 1865-9748
0044-2585
DOI: 10.1007/s12297-022-00542-3
Popis: This empirical study examines the dividend policy of insurance companies in Italy after the Global Financial Crisis. There is clear evidence for dividend signaling in this period of time. Moreover, the relationship between stock prices and dividend payments is analyzed in more detail. Additionally, the paper also discusses macroeconomic and regulatory issues that could be of relevance for the dividend policy of the Italian insurance industry. In this context the study exemplarily discusses the possible role of inflation and of regulatory restrictions on dividend payouts in the financial services industry.
Databáze: OpenAIRE
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