| Popis: |
In theory of finance, it is recognized that the value of the company depends, on the optimization of the three basic company policies: (1) investment policy, (2) financing policy and (3) dividend policy. The results of the survey, which was conducted on a sample comprising of 41 Serbian companies showed: the signaling theory related to dividend policy is not applicable to companies in Serbia, due to common concentrated ownership in Serbian companies that reduces information asymmetry, and thus reduces the importance of dividend policy in the context of sending a positive signal to investors. Also, companies in Serbia do not have clearly defined long-term targets regarding the profit that is paid through dividends. Lastly, companies from the BELEX 15 basket are not better in applying good corporate governance principles that relate to dividend policy in comparison to the companies that are not listed. |
