EN
Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis
Abstract
The aim of this study is to find out the determinants of target dividend payout ratio of BIST-listed firms operating in the non-metallic products (cement) manufacturing industry in the period of 2002-2012. Through this aim, the short and long-run effects of factors related to profitability, liquidity, growth, risk, market expectations and taxation on target dividend payout ratio is analyzed via panel ARDL methodology. Empirical findings indicate that in the long-run, factors related to profitability, growth and corporate taxation significantly affect target dividend payout ratio negatively; while factors related to risk and market expectations have statistically significant and positive effects on target dividend payout ratio. Additionally, in the short-run only profitability seems to have statistically significant and positive effect on the dependent variable.
Keywords
Details
Primary Language
English
Subjects
-
Journal Section
-
Authors
Kartal Demirgüneş
This is me
Publication Date
June 1, 2015
Submission Date
June 1, 2015
Acceptance Date
-
Published in Issue
Year 1970 Volume: 5 Number: 2
APA
Demirgüneş, K. (2015). Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis. International Journal of Economics and Financial Issues, 5(2), 418-426. https://izlik.org/JA89PY67SY
AMA
1.Demirgüneş K. Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis. IJEFI. 2015;5(2):418-426. https://izlik.org/JA89PY67SY
Chicago
Demirgüneş, Kartal. 2015. “Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis”. International Journal of Economics and Financial Issues 5 (2): 418-26. https://izlik.org/JA89PY67SY.
EndNote
Demirgüneş K (June 1, 2015) Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis. International Journal of Economics and Financial Issues 5 2 418–426.
IEEE
[1]K. Demirgüneş, “Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis”, IJEFI, vol. 5, no. 2, pp. 418–426, June 2015, [Online]. Available: https://izlik.org/JA89PY67SY
ISNAD
Demirgüneş, Kartal. “Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis”. International Journal of Economics and Financial Issues 5/2 (June 1, 2015): 418-426. https://izlik.org/JA89PY67SY.
JAMA
1.Demirgüneş K. Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis. IJEFI. 2015;5:418–426.
MLA
Demirgüneş, Kartal. “Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis”. International Journal of Economics and Financial Issues, vol. 5, no. 2, June 2015, pp. 418-26, https://izlik.org/JA89PY67SY.
Vancouver
1.Kartal Demirgüneş. Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis. IJEFI [Internet]. 2015 Jun. 1;5(2):418-26. Available from: https://izlik.org/JA89PY67SY