Political Connections and Firm’S Dividend Policy: Evidence from Chinese Privately Owned Firms

2011 ◽  
Author(s):  
Gary Gang Tian ◽  
Jerry Cao ◽  
Liu Qigui
Keyword(s):  
Dividend Policy ◽  
Political Connections ◽  
Privately Owned

scholarly journals Faktor Yang Mempengaruhi Kebijakan Deviden

2021 ◽  
Vol 1 (1) ◽  
pp. 1-10
Author(s):  
Radina Modjaningrat
Keyword(s):  
Decision Making ◽  
Dividend Policy ◽  
Empirical Studies ◽  
Policy Decision ◽  
Institutional Ownership ◽  
Influential Factors ◽  
Political Connections ◽  
Political Connection ◽  
Dividend Policies ◽  
Policy Decision Making

The purpose of this research is for dividend policy decision making there is a conflict between interested parties in accordance with the agency theory, namely between shareholders and management. Empirical studies have been conducted to examine factors that affect dividend policies conducted by companies but the results showed different results. In the opinion of the authors the most influential factors on dividend policy are profitability, leverage, liquidity, institutional ownership and political connections. Empirical studies on the influence of profitability, leverage, liquidity, institutional ownership and political connections are conducted simultaneously on dividend policies. This is done to prove that these factors if tested simultaneously, whether to influence the dividend policy moreover there is a political connection in it, especially research on the influence of political connections to dividend policy in Indonesia is still very rare

scholarly journals Political Connections, Financing and Dividend Policy

2021 ◽  
Author(s):  
Leonita Putri ◽  
Sulaeman Rahman Nidar ◽  
Rachmat Sudarsono ◽  
Josep Ginting
Keyword(s):  
Dividend Policy ◽  
Political Connections

scholarly journals StrukturKepemilikan Institusional, Koneksi Politik dan Kebijakan Dividen Perusahaan di Bursa Efek Indonesia

2020 ◽  
Vol 3 (1) ◽  
pp. 120-144
Author(s):  
Novia Nursyahbandarmahdi ◽  
◽  
Siti Sarah ◽  
Luciana Haryono ◽  
◽  
...  
Keyword(s):  
Regression Model ◽  
Dividend Policy ◽  
Positive Impact ◽  
Stock Exchange ◽  
Institutional Ownership ◽  
Political Connections ◽  
Tobit Regression ◽  
Significant Negative Effect ◽  
Negative Effect ◽  
Tobit Regression Model

The purpose of this study was to determine whether institutional ownership, political connections, and institutional ownership on political connected companies affects the dividend policy of Indonesian companies listed on the Indonesian Stock Exchange from 2012 - 2017. The sample used in this study were totaled to 255 non-financial companies in Indonesia with total observations of 1530. The model used on this study was the Tobit regression model. The results show that institutional ownership has the tendency to not pay dividends, whereas political connections on companies tends to support the payment of dividends to the shareholders. Furthermore, this study found that when there is the presence of interactions between political connections and institutional ownership in the company, political connections tends to have a positive impact towards dividend policy, yet institutional ownership has an increasingly significant negative effect on dividend policy.

The “dividend puzzle” and the Russian stock market. Part 1

2020 ◽  
pp. 66-92 ◽  
Author(s):  
A. E. Abramov ◽  
A. D. Radygin ◽  
M. I. Chernova ◽  
R. M. Entov
Keyword(s):  
Stock Market ◽  
Financial Stability ◽  
Dividend Policy ◽  
General Context ◽  
Steady Increase ◽  
Main Research ◽  
For Profit ◽  
Dividend Payments ◽  
Stock Market Performance ◽  
Dividend Irrelevance

This article analyzes the key patterns of the dividend policy and the problem of the “dividend puzzle” in the general context of the development of the stock market in Russia. The article consists of two parts.In the first part we summarize main research trends of dividend policy in modern economic theory (the classical Modigliani—Miller theory of dividend irrelevance, agent and signal hypotheses, the smoothing model, the catering theory, etc.). We emphasize the theoretical analysis of motivation of the largest Russian companies for profit allocation and dividend payout, based on a sample of 236 joint stock companies. Since 2012, a steady increase in dividend payments has been revealed in both private and state-owned enterprises (SOEs). The bulk of dividend payments from SOEs accounts for only 12 major companies. Along with an increase in the market value, dividends have become an important factor in the total return on shares. Under current conditions, the probability of paying dividends depends not only on the size of the company and indicators of its’ financial stability, but also on the presence of the state in the capital of companies. However, the relationship between the probability of paying dividends and state participation in the ownership structure is not universal and can be explained by specific factors that go beyond the classical dividend theories.In the second part we will analyze the patterns of stock market performance and dividend policy of the largest Russian companies, motivation for dividend payouts and special aspects of SOEs policy.

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