Dividends and Dividend Policy

by Editor: H. Kent Baker

• ISBN13: 9780470471210
• ISBN10: 0470471212
• Format: eBook
• Copyright: 2009-04-01
• Publisher: Wiley

Summary

Dividends And Dividend PolicyAs part of the Robert W. Kolb Series in Finance, Dividends and Dividend Policy aims to be the essential guide to dividends and their impact on shareholder value. Issues concerning dividends and dividend policy have always posed challenges to both academics and professionals. While all the pieces to the dividend puzzle may not be in place yet, the information found here can help you gain a firm understanding of this dynamic discipline.Comprising twenty-eight chapters-contributed by both top academics and financial experts in the field-this well-rounded resource discusses everything from corporate dividend decisions to the role behavioral finance plays in dividend policy. Along the way, you'll gain valuable insights into the history, trends, and determinants of dividends and dividend policy, and discover the different approaches firms are taking when it comes to dividends.Whether you're a seasoned financial professional or just beginning your journey in the world of finance, having a firm understanding of the issues surrounding dividends and dividend policy is now more important than ever. With this book as your guide, you'll be prepared to make the most informed dividend-related decisions possible-even in the most challenging economic conditions.The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals.

Table of Contents

Dividends and Dividend Policy: History, Trends, and Determinants

Dividends and Dividend Policy: An Overview

Introduction

The Historical Evolution of Dividends

Trends in Dividends: Payers and Payouts

Factors Influencing Dividends

Cross-Country Determinants of Payout Policy: European Firms

Cash Dividends: Theoretical and Emperical Evidence

Dividend Irrelevance Theory

Residual Dividend Policy

Taxes and Clientele Effects

Agency Costs and the Free Cash Flow Hypothesis

Asymmetric Information and Signaling Theory

Behavioral Explanations of Dividends

The Firm Life Cycle Theory of Dividends

The Catering Theory of Dividends

Share Repurchases

Stock Repurchases: Theory and Evidence − Part 1

Stock Repurchases: Theory and Evidence − Part 2

Stock Repurchases and Dividends: Tradeoffs and Trends

Beating the Market with Share Buybacks

Other Distribution Methods

Special Dividends

Stock Splits, Stock Dividends and Reverse Stock Splits

Dividend Reinvestment Plans

Survey Evidence on Dividends and Dividend Policy

Cash Dividends and Stock Repurchases

Stock Splits, Stock Dividends, and Dividend Reinvestment Plans

Why Individual and Professional Investors Want Dividends

Other Dividend and Dividend Policy Issues

Why Firms Begin Paying Dividends: Value, Growth and Life Cycle Effects

Dividend Policy and Corporate Governance

Dividend Policy in Regulated Industries

Dividend Policy in a Global Perspective

Dividend Policy in Emerging Markets

Conclusions

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