De svenska börsbolagens prioriteringar mellan investeringspolitik och utdelningspolitik: En studie av sambandet mellan investeringspolitik och utdelningspolitik i förhållande till börsvärde
Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
The relationship between dividend policy and investment is a controversial area and the relationship between these two may differ depending on the company's priorities. The study examines this more closely by studying dividend policy's impact on investment and how it differs depending on the company’s market capitalization. The study is based on companies listed on the OMX Stockholm within the segments Large Cap and Small Cap, during the period between 2003-2012. Secondary data was obtained from each company's annual reports where relevant data was used to operationalized into measurable variables. The variable for measuring investment was the investment ratio and the dividend policy was represented by the dividend payout ratio. The investment ratio was acting as dependent and payout ratio as the independent variable.
The results showed that the payout ratio has a weak negative impact on the investment ratio. This negative relationship existed with safety within Large Cap. Small Cap had tendencies to a similar relationship but not significantly. When comparing the investment ratio in relation to the dividend payout ratio, it was found that small cap prioritizes investments in higher degree than large cap.
Place, publisher, year, edition, pages
2014. , 43 p.
IdentifiersURN: urn:nbn:se:sh:diva-24164OAI: oai:DiVA.org:sh-24164DiVA: diva2:728134
Subject / course
UppsokSocial and Behavioural Science, Law
Chun, Ogi, Högskoleadjunkt