Impact of Dividend Policy on the Market Value of the Company

Autor: Eryomin Ivan, Likhacheva Olga, Chernikova Lyudmila
Jazyk: English<br />French
Rok vydání: 2021
Předmět:
Zdroj: SHS Web of Conferences, Vol 91, p 01013 (2021)
Druh dokumentu: article
ISSN: 2261-2424
DOI: 10.1051/shsconf/20219101013
Popis: The article is devoted to the analysis and assessment of the impact of dividends on the market value of the company. The study is based on data from company reports and statistics from the Moscow Exchange. This paper presents a regression analysis of a choice consisting of 1) 20 systems of Russian companies and 2) 5 largest companies in the oil and gas sector for the period 2013-2019. The regression results show that dividends have a positive effect on capitalization only if the policy is based on the residual principle. The conclusions made in the work, which provide recommendations and a statistical assessment of dependence, can find practical application in determining the dividend policy of an organization and predicting changes in the capitalization of companies.
Databáze: Directory of Open Access Journals