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Dividend payments in companies with foreign direct investors

Author

Listed:
  • Michal Marcin Kupc

    (National Bank of Poland)

  • Krzysztof Makowski

    (National Bank of Poland)

Abstract

Direct investors income (mainly dividends) are an important part of the negative current account balance of the balance of payments. The authors verified the impact of the factors presented in the literature on the dividend payout decisions of companies with foreign direct investors in terms of their significance and the direction of impact. In the analysis authors estimated tobit models on panel data for the years 2012–2014. The analysis was based on a balanced panel comprising 3437 units.

Suggested Citation

  • Michal Marcin Kupc & Krzysztof Makowski, 2016. "Dividend payments in companies with foreign direct investors," Acta Universitatis Nicolai Copernici, Ekonomia, Uniwersytet Mikolaja Kopernika, vol. 47(1), pages 7-26.
    • Handle: RePEc:cpn:umkanc:2016:p:7-26
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    More about this item

    Keywords

    dividend; foreign direct investment; determinants of the dividend policy of companies; Panel Data Tobit Models;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • 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

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