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Impact of financial and multinational operations on manager perceptions of dividends

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  • Baker, H. Kent
  • Dutta, Shantanu
  • Saadi, Samir

Abstract

We survey managers of firms listed on the Toronto Stock Exchange about their views on dividends. We find the perceptions of factors that influence dividend policy differ between managers of financial and non-financial firms. Industry classification also affects how managers view statements about the dividend pattern, dividend setting process, dividend policy and firm value, residual dividend theory, and explanations for paying dividends. However, we find weak, if any, multinational operations effect on manager perception of dividends. We conclude that researchers investigating dividends should partition the data by industry type and perhaps other firm characteristics to better understand the dividend puzzle.

Suggested Citation

  • Baker, H. Kent & Dutta, Shantanu & Saadi, Samir, 2008. "Impact of financial and multinational operations on manager perceptions of dividends," Global Finance Journal, Elsevier, vol. 19(2), pages 171-186.
  • Handle: RePEc:eee:glofin:v:19:y:2008:i:2:p:171-186
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    References listed on IDEAS

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    Cited by:

    1. Ashraf, Badar Nadeem & Bibi, Bushra & Zheng, Changjun, 2016. "How to regulate bank dividends? Is capital regulation an answer?," Economic Modelling, Elsevier, vol. 57(C), pages 281-293.
    2. Tom Van Caneghem & Walter Aerts, 2011. "Intra-industry conformity in dividend policy," Managerial Finance, Emerald Group Publishing, vol. 37(6), pages 492-516, May.
    3. Kuzucu, Narman, 2015. "A survey of managerial perspective on corporate dividend policy: evidence from Turkish listed firms," MPRA Paper 69801, University Library of Munich, Germany.

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    Keywords

    Dividends Surveys Industry effects;

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