Impact of Dividend Policy on the Market Value of the Company
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 c...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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EDP Sciences
2021-01-01
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| Series: | SHS Web of Conferences |
| Subjects: | |
| Online Access: | https://www.shs-conferences.org/articles/shsconf/pdf/2021/02/shsconf_ies2020_01013.pdf |
| _version_ | 1818428945321689088 |
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| author | Eryomin Ivan Likhacheva Olga Chernikova Lyudmila |
| author_facet | Eryomin Ivan Likhacheva Olga Chernikova Lyudmila |
| author_sort | Eryomin Ivan |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-14T15:09:41Z |
| format | Article |
| id | doaj.art-4555f93eb1fb4c89851468542511d54e |
| institution | Directory Open Access Journal |
| issn | 2261-2424 |
| language | English |
| last_indexed | 2024-12-14T15:09:41Z |
| publishDate | 2021-01-01 |
| publisher | EDP Sciences |
| record_format | Article |
| series | SHS Web of Conferences |
| spelling | doaj.art-4555f93eb1fb4c89851468542511d54e2022-12-21T22:56:36ZengEDP SciencesSHS Web of Conferences2261-24242021-01-01910101310.1051/shsconf/20219101013shsconf_ies2020_01013Impact of Dividend Policy on the Market Value of the CompanyEryomin Ivan0Likhacheva Olga1Chernikova Lyudmila2Financial University under the Government of the Russian FederationFinancial University under the Government of the Russian FederationFinancial University under the Government of the Russian FederationThe 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.https://www.shs-conferences.org/articles/shsconf/pdf/2021/02/shsconf_ies2020_01013.pdfdividend policycapitalizationdiscount ratedividendsregression analysiscapital structureshares |
| spellingShingle | Eryomin Ivan Likhacheva Olga Chernikova Lyudmila Impact of Dividend Policy on the Market Value of the Company SHS Web of Conferences dividend policy capitalization discount rate dividends regression analysis capital structure shares |
| title | Impact of Dividend Policy on the Market Value of the Company |
| title_full | Impact of Dividend Policy on the Market Value of the Company |
| title_fullStr | Impact of Dividend Policy on the Market Value of the Company |
| title_full_unstemmed | Impact of Dividend Policy on the Market Value of the Company |
| title_short | Impact of Dividend Policy on the Market Value of the Company |
| title_sort | impact of dividend policy on the market value of the company |
| topic | dividend policy capitalization discount rate dividends regression analysis capital structure shares |
| url | https://www.shs-conferences.org/articles/shsconf/pdf/2021/02/shsconf_ies2020_01013.pdf |
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