Ownership type influence on dividend payments in CEE countries
The present paper provides practical implications for the Central and Eastern European equity investors, who seek dividend income in addition to the capital appreciation. The insight into the dividend puzzle in the CEE companies, provided in the research, gives an overview of the dividend yields and...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Vilnius Gediminas Technical University
2013-09-01
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| Series: | Business: Theory and Practice |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/BTP/article/view/8491 |
| _version_ | 1797333184548962304 |
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| author | Natalja Lace Julija Bistrova Konstantins Kozlovskis |
| author_facet | Natalja Lace Julija Bistrova Konstantins Kozlovskis |
| author_sort | Natalja Lace |
| collection | DOAJ |
| description | The present paper provides practical implications for the Central and Eastern European equity investors, who seek dividend income in addition to the capital appreciation. The insight into the dividend puzzle in the CEE companies, provided in the research, gives an overview of the dividend yields and payment stability as well as the relationship between the dividend payments and the type of ownership. Main findings of the study prove that the highest yield and the highest payout ratio are obtained in the case of strategic investor acting as a major shareholder (>10% of ownership capital). Binary logistic regression results provide the possibility to forecast whether the company will pay dividends. The typical dividend payer should not have family/management as a major investor, the ownership still should be concentrated and the investor preferably should be of local origin. |
| first_indexed | 2024-03-08T08:00:05Z |
| format | Article |
| id | doaj.art-dc8503d4701749df8247cf8255b62d08 |
| institution | Directory Open Access Journal |
| issn | 1648-0627 1822-4202 |
| language | English |
| last_indexed | 2024-03-08T08:00:05Z |
| publishDate | 2013-09-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Business: Theory and Practice |
| spelling | doaj.art-dc8503d4701749df8247cf8255b62d082024-02-02T12:37:27ZengVilnius Gediminas Technical UniversityBusiness: Theory and Practice1648-06271822-42022013-09-0114310.3846/btp.2013.27Ownership type influence on dividend payments in CEE countriesNatalja Lace0Julija Bistrova1Konstantins Kozlovskis2Riga Technical University, Kalnciema 6, LV-1048 Riga, LatviaRiga Technical University, Kalnciema 6, LV-1048 Riga, LatviaRiga Technical University, Kalnciema 6, LV-1048 Riga, LatviaThe present paper provides practical implications for the Central and Eastern European equity investors, who seek dividend income in addition to the capital appreciation. The insight into the dividend puzzle in the CEE companies, provided in the research, gives an overview of the dividend yields and payment stability as well as the relationship between the dividend payments and the type of ownership. Main findings of the study prove that the highest yield and the highest payout ratio are obtained in the case of strategic investor acting as a major shareholder (>10% of ownership capital). Binary logistic regression results provide the possibility to forecast whether the company will pay dividends. The typical dividend payer should not have family/management as a major investor, the ownership still should be concentrated and the investor preferably should be of local origin.https://journals.vgtu.lt/index.php/BTP/article/view/8491type of ownershiplocation of investordividend paymentfinancial investorstrategic investorfamily ownership |
| spellingShingle | Natalja Lace Julija Bistrova Konstantins Kozlovskis Ownership type influence on dividend payments in CEE countries Business: Theory and Practice type of ownership location of investor dividend payment financial investor strategic investor family ownership |
| title | Ownership type influence on dividend payments in CEE countries |
| title_full | Ownership type influence on dividend payments in CEE countries |
| title_fullStr | Ownership type influence on dividend payments in CEE countries |
| title_full_unstemmed | Ownership type influence on dividend payments in CEE countries |
| title_short | Ownership type influence on dividend payments in CEE countries |
| title_sort | ownership type influence on dividend payments in cee countries |
| topic | type of ownership location of investor dividend payment financial investor strategic investor family ownership |
| url | https://journals.vgtu.lt/index.php/BTP/article/view/8491 |
| work_keys_str_mv | AT nataljalace ownershiptypeinfluenceondividendpaymentsinceecountries AT julijabistrova ownershiptypeinfluenceondividendpaymentsinceecountries AT konstantinskozlovskis ownershiptypeinfluenceondividendpaymentsinceecountries |