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Análisis de la política de pago de dividendos en empresas chilenas

Author

Listed:
  • Mauricio Gutiérrez Urzúa
  • Miguel Yáñez Alvarado
  • Benito Umaña Hermosilla

Abstract

Este artículo analiza la tasa de pago de dividendos de las empresas chilenas, considerando aspectos como el pago de dividendos obligatorios, la fuerte concentración de la propiedad, las oportunidades de crecimiento y la presencia de inversionistas institucionales. La investigación se realizó para el período 2001 a 2007, a través de regresiones lineales múltiples, con selección de variables mediante el criterio de stepwise y estimación de parámetros a través de máxima verosimilitud, en donde se encontró evidencia de la utilización de la tasa de pago de dividendos para entregar información sobre los proyectos futuros de la empresa y el tratamiento justo de los accionistas. También se destaca el control ejercido por los inversionistas institucionales.

Suggested Citation

  • Mauricio Gutiérrez Urzúa & Miguel Yáñez Alvarado & Benito Umaña Hermosilla, 2012. "Análisis de la política de pago de dividendos en empresas chilenas," Estudios Gerenciales, Universidad Icesi, June.
    • Handle: RePEc:col:000129:011280
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    File URL: http://www.icesi.edu.co/revistas/index.php/estudios_gerenciales/article/view/1206
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    Citations

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    Cited by:

    1. Jose Asuncion Corona Duenas & Cesar Corona Pacheco, 2019. "Impacts Of Fiscal Reform On Dividends: Evidence From Mexico," Accounting & Taxation, The Institute for Business and Finance Research, vol. 11(1), pages 71-81.

    More about this item

    Keywords

    Dividendos; propiedad; crecimiento; inversionistas institucionales.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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