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The Impact of Dividend Policy on Firm Value. a Panel Data Analysis of Romanian Listed Firms

Year: 2016

Type: article

Abstract: The aim of the paper is to investigate the impact of dividend policy on firm value. Our sample consists of sixty-three non-financial firms listed on the Bucharest Stock Exchange over the period 2001-2011. Employing a fixed effects model, we found that dividend pay-out ratio positively influences firm value after controlling for other firm-specific variables. Furthermore, leverage and firm size were found to have a positive effect on firm value.

Source: DOAJ (DOAJ: Directory of Open Access Journals)

Author: Sorin Gabriel ANTON

Institution: Alexandru Ioan Cuza University

Language: English

Topic: Corporate Finance and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

OpenAlex ID: W2980936360

FWCI: 9.754

Cites: 10

Cited by: 61

Related to: 10