Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/10448
Title: Why do firms pay dividends : lifecycle theory in the Asian context.
Authors: Chia, Li Yi.
Chua, Mincong.
Loke, Alvin Zhengqiang.
Keywords: DRNTU::Business::Finance::Dividends
Issue Date: 2007
Abstract: The determinants of dividend payout are consistent in Japan, Indonesia, Hong Kong, Korea, Singapore, Malaysia, Taiwan and Thailand. Profitability, growth opportunities, firm size and the earned equity mix all influence the likelihood of paying dividends. There exists a declining propensity to pay dividends in most countries with the exception of Korea and Taiwan. This declining propensity to pay may be attributed to the changing firm characteristics over the years, exhibiting characteristics of non-payers. Results from the descriptive statistics and logit regressions show that earned equity mix is the strongest determinant of dividend payout. From our findings, dividend payout is concentrated among the larger and more profitable firms. In addition, firms with the highest earnings are also the top payers. Overall, these findings provide support for the lifecycle theory.
URI: http://hdl.handle.net/10356/10448
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

Files in This Item:
File Description SizeFormat 
NBS-REPORTS_2997.pdf
  Restricted Access
99.93 kBAdobe PDFView/Open

Page view(s) 50

248
Updated on Dec 5, 2020

Download(s) 50

3
Updated on Dec 5, 2020

Google ScholarTM

Check

Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.