Internal factors of dividend policy in public firms in Bosnia and Herzegovina
This paper examines the characteristics of dividend paying firms in Bosnia and Herzegovina. The research is conducted on a sample of 35 largest public firms during the period of five years, from 2013 to 2017, using multiple linear regression and logistic regression. The aim of the research is to exp...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2019-12-01
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| Series: | Croatian Review of Economic, Business and Social Statistics |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/crebss-2019-0007 |
| _version_ | 1797329499518402560 |
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| author | Džidić Ante Živko Igor |
| author_facet | Džidić Ante Živko Igor |
| author_sort | Džidić Ante |
| collection | DOAJ |
| description | This paper examines the characteristics of dividend paying firms in Bosnia and Herzegovina. The research is conducted on a sample of 35 largest public firms during the period of five years, from 2013 to 2017, using multiple linear regression and logistic regression. The aim of the research is to explore the internal determinants of dividend payouts and to find whether there are any deviations from empirical experiences in the world. The research results show that larger and more profitable firms are more likely to pay dividends, while more indebted and closely held firms are less likely to pay dividends. The negative relation found between the dividend decision and investment opportunities is not statistically significant. The research results also show that the size is positively associated with higher payout ratios, while the payout ratios decrease with greater use of financial leverage. Profitability, investment opportunities and ownership concentration do not affect the level of dividend distribution. |
| first_indexed | 2024-03-08T07:05:44Z |
| format | Article |
| id | doaj.art-65e40e0463ca41a49a74835b872ea536 |
| institution | Directory Open Access Journal |
| issn | 2459-5616 |
| language | English |
| last_indexed | 2024-03-08T07:05:44Z |
| publishDate | 2019-12-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Croatian Review of Economic, Business and Social Statistics |
| spelling | doaj.art-65e40e0463ca41a49a74835b872ea5362024-02-03T04:35:16ZengSciendoCroatian Review of Economic, Business and Social Statistics2459-56162019-12-015211610.2478/crebss-2019-0007Internal factors of dividend policy in public firms in Bosnia and HerzegovinaDžidić Ante0Živko Igor1Faculty of Economics, University of Mostar, Bosnia and HerzegovinaFaculty of Economics, University of Mostar, Bosnia and HerzegovinaThis paper examines the characteristics of dividend paying firms in Bosnia and Herzegovina. The research is conducted on a sample of 35 largest public firms during the period of five years, from 2013 to 2017, using multiple linear regression and logistic regression. The aim of the research is to explore the internal determinants of dividend payouts and to find whether there are any deviations from empirical experiences in the world. The research results show that larger and more profitable firms are more likely to pay dividends, while more indebted and closely held firms are less likely to pay dividends. The negative relation found between the dividend decision and investment opportunities is not statistically significant. The research results also show that the size is positively associated with higher payout ratios, while the payout ratios decrease with greater use of financial leverage. Profitability, investment opportunities and ownership concentration do not affect the level of dividend distribution.https://doi.org/10.2478/crebss-2019-0007determinantsdividendslinear regressionlogistic regressiongg3g35 |
| spellingShingle | Džidić Ante Živko Igor Internal factors of dividend policy in public firms in Bosnia and Herzegovina Croatian Review of Economic, Business and Social Statistics determinants dividends linear regression logistic regression g g3 g35 |
| title | Internal factors of dividend policy in public firms in Bosnia and Herzegovina |
| title_full | Internal factors of dividend policy in public firms in Bosnia and Herzegovina |
| title_fullStr | Internal factors of dividend policy in public firms in Bosnia and Herzegovina |
| title_full_unstemmed | Internal factors of dividend policy in public firms in Bosnia and Herzegovina |
| title_short | Internal factors of dividend policy in public firms in Bosnia and Herzegovina |
| title_sort | internal factors of dividend policy in public firms in bosnia and herzegovina |
| topic | determinants dividends linear regression logistic regression g g3 g35 |
| url | https://doi.org/10.2478/crebss-2019-0007 |
| work_keys_str_mv | AT dzidicante internalfactorsofdividendpolicyinpublicfirmsinbosniaandherzegovina AT zivkoigor internalfactorsofdividendpolicyinpublicfirmsinbosniaandherzegovina |