Change search
ReferencesLink to record
Permanent link

Direct link
Dividend policy in Nordic listed firms
Stockholm University, Faculty of Social Sciences, Stockholm Business School, Finance.
2014 (English)In: Global Finance Journal, ISSN 1044-0283, E-ISSN 1873-5665, Vol. 25, no 2, 124-135 p.Article in journal (Refereed) Published
Abstract [en]

In this paper we analyze the results from a survey among all publicly listed Nordic firms on their dividend payout policy. The results show that 72% of the Nordic companies have a specified dividend policy. Larger and more profitable companies are more likely to have a defined dividend policy in place. The dividend policy is mostly influenced by capital structure considerations and the outlook of future earnings. We also find that the likelihood for a firm having an explicit dividend policy is positively related to ownership concentration as well as to the presence of large long-term private or industrial owners. Our results support the use of defined dividend policies for agency or monitoring reasons rather than signaling reasons.

Place, publisher, year, edition, pages
Amsterdam: Elsevier, 2014. Vol. 25, no 2, 124-135 p.
Keyword [en]
Corporate finance; Dividend policy; Payout; NASDAQ OMX
National Category
Business Administration
URN: urn:nbn:se:su:diva-112788DOI: 10.1016/j.gfj.2014.06.004OAI: diva2:780869
Available from: 2015-01-15 Created: 2015-01-15 Last updated: 2015-01-19Bibliographically approved

Open Access in DiVA

No full text

Other links

Publisher's full text

Search in DiVA

By author/editor
Brunzell, Tor
By organisation
In the same journal
Global Finance Journal
Business Administration

Search outside of DiVA

GoogleGoogle Scholar
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Altmetric score

Total: 442 hits
ReferencesLink to record
Permanent link

Direct link