Capital change and stability when dividends convey signals

Batabyal, Sourav; Robinson, Richard

doi:10.1016/j.qref.2016.08.009

Cited by 8 publications

(5 citation statements)

References 44 publications

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“…In addition, there is a relationship between revenue and dividends. Revenue generation causes dividends to be paid (Batabyal and Robinson, 2017; Goyal et al. , 2020).…”

Section: Methodsmentioning

confidence: 99%

See 1 more Smart Citation

Determinants of the financial performance of social enterprises in an emerging economy: a quantitative analysis

Fernandes,

Grochau,

ten Caten

et al. 2024

SEJ

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Purpose This paper aims to identify the determining factors for the financial performance (FP) of social enterprises in an emerging country, in this case Brazil. Design/methodology/approach This paper identifies the determinants of the FP of social enterprises in Brazil using the resource-based view as a theoretical lenses and the quantitative method (n = 601) of logistic regression, analyzing the importance of nine variables related to SEs. Findings The findings refer to practical contributions (which show how SEs should focus and allocate their resources to maximize FP) and theoretical contributions linked to entrepreneurship literature (by differentiating the results of this work from the literature on commercial entrepreneurship in terms of resources), social entrepreneurship literature (by presenting the resources that determine their FP), business literature, entrepreneurial finance and entrepreneurship in emerging economies. Originality/value This work represents a novelty from a methodological point of view, filling the gap regarding the lack of studies that apply a quantitative methodology to a large sample and analyze several different variables when most studies analyze only one factor related to the performance of an organization. It also fills the gap in entrepreneurship studies that use some theoretical lenses. This work is also a pioneer in analyzing the variables involved, such as market orientation, technologies and impact measurement in social entrepreneurship. As this work uses data from a secondary sample, there is the limitation of not choosing the analyzed variables. Even though there were many variables in the sample, it was impossible to consider some variables, referring to various aspects of resources and performance. For this same reason, the social performance of SEs, which is of fundamental importance within the objectives of any organization of this type, was not analyzed and may be a suggestion for future work.

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“…In addition, there is a relationship between revenue and dividends. Revenue generation causes dividends to be paid (Batabyal and Robinson, 2017; Goyal et al. , 2020).…”

Section: Methodsmentioning

confidence: 99%

“…In addition, there is a relationship between revenue and dividends. Revenue generation causes dividends to be paid (Batabyal and Robinson, 2017;Goyal et al, 2020). Proof of this is that the correlation between revenue and the number of social enterprises that distribute dividends is 0.84.…”

Section: Specificationsmentioning

confidence: 99%

Determinants of the financial performance of social enterprises in an emerging economy: a quantitative analysis

Fernandes,

Grochau,

ten Caten

et al. 2024

SEJ

View full text Add to dashboard Cite

show abstract

“…Lee et al, (2012) menemukan bahwa perubahan dividen hanya terkait dengan laba di masa depan untuk satu tahun setelah perubahan dividen dengan hubungan yang positif, di mana laba di masa depan diproksikan dengan EPS. Batabyal & Robinson (2016) menemukan bahwa dengan memperhitungkan struktur modal perusahaan akan mampu memberikan hasil yang lebih baik dalam melihat informasi mengenai laba di masa depan yang tercermin dalam kebijakan dividen. Berdasarkan paparan teori dan penelitian empiris, maka didapatkan hipotesis sebagai berikut.…”

Section: Pendahuluanunclassified

Pengaruh Kebijakan Dividen terhadap Laba di Masa Depan

Anggara

2020

E-Jurnal Akuntansi

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This study uses Lintner's (1956) dividend policy estimation model to examine the effect of earnings and earnings. Leverage on dividend policies. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange between 2014 and 2016. Sampling was carried out by purposive sampling technique, which then took 52 sample companies with 139 observations for the first stage analysis and 46 sample companies with 79 observations. for analysis at the second stage. This study fulfills the classical assumption test which is required as a condition for conducting multiple linear regression analysis. The results of the analysis show that dividend policy has no positive effect on future earnings.This study uses Lintner's (1956) dividend policy estimation model to examine the effect of earnings and earnings. Leverage on dividend policies. The population in this study were manufacturing companies listed on the Indonesia Stock Exchange between 2014 and 2016. Sampling was carried out by purposive sampling technique, which then took 52 sample companies with 139 observations for the first stage analysis and 46 sample companies with 79 observations. for analysis at the second stage. This study fulfills the classical assumption test which is required as a condition for conducting multiple linear regression analysis. The results of the analysis show that dividend policy has no positive effect on future earnings. Keywords: Estimation Model; Dividend Policy; Profit; Leverage; Future Profits.

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“…Dividend theories attempt to describe the reason why companies pay dividends that is seemingly because dividends are still believed to be a major factor in stock price movements (Allen and Michaely, 2003;Zaman, 2011;Srinivasan, 2012;Batabyal and Robinson, 2017). Of the many, who tested this thinking, in 2004, came the perspective of dividend theory originated from the perspective of behavioural finance through investors' desire for dividends, namely dividend catering theory by Baker and Wurgler (2004a).…”

Section: Introductionmentioning

confidence: 99%

Are investors' desires for dividend increases stronger than dividend initiation

Wijaya¹,

Narsa²,

Irwanto³

et al. 2021

IJTGM

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This study aims to explore whether information asymmetry premium (IAP) as the foundation of the investors' desire in the dividend increases decision is stronger than the dividend initiation decision. This study finds that IAP can significantly complement the dividend increases decisions and substitute dividend premium for dividend initiation. The results of the study support Li and Lie (2006) and Chazi et al. (2018), who fleshed out Baker and Wurgler (2004b). The findings of this study show that the investor's desire towards dividend increases reflects investor sentiment on dividends, explained through the level of information asymmetry between dividend payers and non-payers. Further analysis shows that irrational investor behaviour in expecting dividend increases to be paid continuously is significant compared to dividend initiation. This research contributes to behavioural finance research in bonding dividend catering incentives and dividend signaling theory.

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Capital change and stability when dividends convey signals

Cited by 8 publications

References 44 publications

Determinants of the financial performance of social enterprises in an emerging economy: a quantitative analysis

Determinants of the financial performance of social enterprises in an emerging economy: a quantitative analysis

Pengaruh Kebijakan Dividen terhadap Laba di Masa Depan

Are investors' desires for dividend increases stronger than dividend initiation

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