Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2362
Título: Is the Dividend Puzzle Solved?
Autor: Borges, Maria Rosa
Data: 2008
Editora: ISEG – Departamento de Economia
Citação: Borges, Maria Rosa. 2008. "Is the Dividend Puzzle Solved?". Instituto Superior de Economia e Gestão - DE Working papers nº 38-2008/DE/CIEF
Relatório da Série N.º: DE Working papers;nº 38-2008/DE/CIEF
Resumo: Since the 1960's, there is an ongoing debate on dividend policy, which remains a controversial issue to this day. Why do firms pay dividends? The academics have not been able to agree on any convincing explanation, and the same time, many even claim that firms should not pay dividends, and so we have a "dividend puzzle ". The purpose of this paper is to summarize the main findings of two more recent fields of research, and to discuss why they seem to be the most promising avenues for further research, to solve the "dividendpuzzle", and to build a complete payout policy theory. These fields are: (i) the agency theory and (ii) the lifecycle theory. Besides being very intuitive, these theories are consistent with most empirical facts on U.S. firms' payout policy.
URI: http://hdl.handle.net/10400.5/2362
ISSN: 0874-4548
Versão do Editor: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=26539
Aparece nas colecções:DE - Documentos de trabalho / Working Papers
CIEF - Documentos de Trabalho / CIEF - Working Papers

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