Dividend Policy in Nordic Listed Firms
2013 (English)Conference paper, Presentation (Refereed)
In this paper we analyze the results from a survey among all publicly listed Nordic firms on their dividend payout policy. A number of interesting results are found. The results show e.g. that 72 percent of the Nordic companies have a specified dividend policy. Larger and more profitable companies are more likely to have a defined dividend policy in place. The dividend policy is mostly influenced by the considerations of company’s capital structure and future earnings. We get indirect support for agency / monitoring motives, or the need for a stable cash flow, rather than for the signaling motive, since the likelihood for a firm having an explicit dividend policy is positively related to ownership concentration as well as to large long-term, private or industrial owners.
Place, publisher, year, edition, pages
corporate finance, dividend policy, payout, Nordic, OMX
IdentifiersURN: urn:nbn:se:su:diva-87538OAI: oai:DiVA.org:su-87538DiVA: diva2:604381
The annual EFMA (European Financial Management Association) 2013 conference. June 26-29, 2013 Reading, UK
Financial supportfrom NASDAQ OMX NordicFoundation2013-02-112013-02-102013-02-11Bibliographically approved