DETERMINANTES DA POLíTICA DE DIVIDENDOS EM PORTUGAL

Journal article


Authors/Editors


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Publication Details

Author list: Gomes Almeida, Luis António; Oliveira Tavares, Fernando; Teixeira Pereira, Elisabeth
Publisher: Universidade Regional de Blumenau (PPGCC/FURB), Brasil
Publication year: 2014
Journal: Revista Universo Contábil (1809-3337)
Volume number: 10
Issue number: 4
Start page: 162
End page: 181
Number of pages: 20
ISSN: 1809-3337
Languages: Portuguese-Portugal (PT-PT)


Abstract

Dividends abreast of investment and financing are regarded as the most important financial decisions in corporate life. However the determinants of dividend policy do not get consensus in the world of business finance. Black (1976) described the issue as "dividend puzzle" because it is a matter still unresolved. Theories like the theory of relevance of dividends, agency theory, and signaling theory or information asymmetry, have contributed arguments and financial determinants to explain the dividend policy followed by companies. In order to further contribute in solving this issue if test-major financial, non-financial companies listed on the Euronext Lisbon, the time period between 1997 and 2011. The conclusions found lead us to conclude that for the Portuguese capital market companies follow a policy of matching dividend relevance theory of dividends proposed by Lintner (1956).


Keywords

Economics, Management, Portugal


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Last updated on 2019-10-08 at 00:15