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Factores Explicativos Del Reparto De Dividendos A Cuenta En Las Empresas Españolas

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  • Isidoro Guzmán

    ()
    (Universidad Politécnica de Cartagena)

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    Abstract

    This paper analyzes the relationship between economic-financial ratios and thedecision of distributing interim dividends by Spanish firms. With that purpose, we takea sample of non-financial companies quoting in the Spanish Stock Market during theperiod from 1999 to 2001. We choose a multivariate analysis in order to determinethe significant factors affecting the behavior of the companies when paying dividends inadvance. The results show that the ratios related with the firm productivity contain thehighest explanatory power regarding the characteristics analyzed. El presente trabajo analiza la relación de causalidad de la información contable asociada al reparto de "dividendos a cuenta", utilizando como variables predictoras un conjunto de ratios económico-financieros. El trabajo se realizó sobre una muestra de sociedades no financieras cotizadas en el mercado español durante los ejercicios 1999 a 2001, practicándose un doble análisis multivariante en orden a establecer los factores regresores relacionados con la distribución de dividendos interinos, mostrando los resultados obtenidos que las variables-ratios con mayor poder explicativo se relacionan generalmente con la productividad empresarial.

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    File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-2004-09.pdf
    File Function: Fisrt version / Primera version, 2004
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    Bibliographic Info

    Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 2004-09.

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    Length: 25 pages
    Date of creation: Mar 2004
    Date of revision:
    Publication status: Published by Ivie
    Handle: RePEc:ivi:wpasec:2004-09

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    Related research

    Keywords: dividendos; ratios financieros; información contable; análisis factorial; regresión logit dividends; financial ratios; accounting information; factorial analysis; logit regression;

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