KFU. Card publication. Empirical Study of the Dividend Policy of Russian Companies at the Present Stage

KAZAN
FEDERAL UNIVERSITY

- RUS
- 中文
- ES

EMPIRICAL STUDY OF THE DIVIDEND POLICY OF RUSSIAN COMPANIES AT THE PRESENT STAGE

Form of presentation

Articles in Russian journals and collections

Year of publication

2021

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Authors, employees of KFU

Biktemirova Milyausha Kharisovna, author

Bibliographic description in the original language

Filippova I.A., Biktemirova M.Kh., Strelnik E.Y., Salikhov R.R. Empirical Study of the Dividend Policy of Russian Companies at the Present Stage // International Journal of Financial Research. – Volume 12, Issue 2. – Pp. 369–375.

Annotation

Many of the theoretical issues related to the company's dividend policy are highly debatable and sometimes controversial. This article presents the results of an empirical analysis of dividend payments of 50 large Russian public companies for the period from 2011 to 2018. The main source of information in the formation of the empirical base was the data of the annual accounting statements of public companies. During the study, hypotheses about the interrelations of dividend payments and market capitalization, as well as performance indicators and indicators that characterize financial and investment policies had been tested. According to the results, a number of analyzed factors, including revenue, the presence of the state and foreign investors in the ownership structure, financial leverage ratio, the absorption factor per cent, and return on invested capital turned out to be statistically insignificant. Among factors that have a statistically significant association with the dividend payments are market capitalization, net profit, return on assets, return on equity, average total assets. In the course of substantiating and making dividend payout decisions, company management should evaluate, predict and take into account the intricacies of dividend payments with financial and investment decisions. At the same time, the main task of management is to find the optimal amount of dividend payments and thus to meet the expectations of shareholders.

Keywords

dividend policy, Russian public companies, empirical analysis, factor models, multiple regression models

The name of the journal

International Journal of Financial Research

URL

https://www.sciedupress.com/journal/index.php/ijfr/article/view/19950

Please use this ID to quote from or refer to the card

https://repository.kpfu.ru/eng/?p_id=255324&p_lang=2

Resource files

File name	Size (MB)	Format
F_Biktemirova_M.Kh.pdf.pdf	0,32	pdf	show / download

Full metadata record

Field DC	Value	Language
dc.contributor.author	Biktemirova Milyausha Kharisovna	ru_RU
dc.date.accessioned	2021-01-01T00:00:00Z	ru_RU
dc.date.available	2021-01-01T00:00:00Z	ru_RU
dc.date.issued	2021	ru_RU
dc.identifier.citation	Filippova I.A., Biktemirova M.Kh., Strelnik E.Y., Salikhov R.R. Empirical Study of the Dividend Policy of Russian Companies at the Present Stage // International Journal of Financial Research. – Volume 12, Issue 2. – Pp. 369–375.	ru_RU
dc.identifier.uri	https://repository.kpfu.ru/eng/?p_id=255324&p_lang=2	ru_RU
dc.description.abstract	International Journal of Financial Research	ru_RU
dc.description.abstract	Many of the theoretical issues related to the company's dividend policy are highly debatable and sometimes controversial. This article presents the results of an empirical analysis of dividend payments of 50 large Russian public companies for the period from 2011 to 2018. The main source of information in the formation of the empirical base was the data of the annual accounting statements of public companies. During the study, hypotheses about the interrelations of dividend payments and market capitalization, as well as performance indicators and indicators that characterize financial and investment policies had been tested. According to the results, a number of analyzed factors, including revenue, the presence of the state and foreign investors in the ownership structure, financial leverage ratio, the absorption factor per cent, and return on invested capital turned out to be statistically insignificant. Among factors that have a statistically significant association with the dividend payments are market capitalization, net profit, return on assets, return on equity, average total assets. In the course of substantiating and making dividend payout decisions, company management should evaluate, predict and take into account the intricacies of dividend payments with financial and investment decisions. At the same time, the main task of management is to find the optimal amount of dividend payments and thus to meet the expectations of shareholders.	ru_RU
dc.language.iso	ru	ru_RU
dc.subject	dividend policy	ru_RU
dc.subject	Russian public companies	ru_RU
dc.subject	empirical analysis	ru_RU
dc.subject	factor models	ru_RU
dc.subject	multiple regression models	ru_RU
dc.title	Empirical Study of the Dividend Policy of Russian Companies at the Present Stage	ru_RU
dc.type	Articles in Russian journals and collections	ru_RU