Dividend Policy

Dividend Policy

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Dividend Policy explores the puzzle presented by dividends: irrational and subject to fashion, yet popular and desirable, they remain a priority among managers, even while perceived as largely symbolic. After exploring the history of dividend payments, from the emergence of the modern corporation to current perspectives, it traces the evolution of academic models on dividend policy. Here the authors review models of symmetric and asymmetric information before analyzing academia's accomplishments in solving the dividend puzzle. Related subjects, such as valuation and wealth distribution, round out the authors' presentation about new ways to think about one of the most intriguing subjects in financial economics. * The only comprehensive study of dividend policy * Covers the historical evolution of dividends and academic research on dividend policy * Presents new ways of thinking about dividends and dividend policyDivisions from the company averaged 31% of share purchase price per year from its inception through 1617 (Scott, 1912) and totaled over 150% for the first 5 years after the initial joint-stock sale (Baskin, 1988). By 1617, the company had 934 ... Not all voyages were profitable because of the high risk and uncertainty associated with sea voyages (Kindleberger, 1984). Depressed eco- nomic conditions inanbsp;...

Title:Dividend Policy
Author:George Frankfurter, Bob G. Wood, James Wansley
Publisher:Academic Press - 2003-06-24


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