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Dividend Payment and its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach

Yıl 2017, Cilt: 7 Sayı: 2, 370 - 376, 01.06.2017

Öz

The aim of this study is to examine the impact of dividend payments on the value of firms listed on the Istanbul Stock Exchange (ISE). The study has been adapted the Residual Income Approach based on Ohlson's (1995) valuation model. By testing different statistical techniques, fixed effect is applied on panel data for 44 firms listed on Istanbul Stock Exchange for the period 2007-2015, inclusive. The findings show a positive significant relationship between dividend payments and the value of firms. The results tend to support agency cost rather than the signaling hypothesis explanation. Moreover, the study suggests that the dividends irrelevance hypothesis is invalid in the case of firms listed on the (ISE).

Yıl 2017, Cilt: 7 Sayı: 2, 370 - 376, 01.06.2017

Öz

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Ayrıntılar

Diğer ID JA95TD24MV
Bölüm Araştırma Makalesi
Yazarlar

Akram Budagaga Bu kişi benim

Yayımlanma Tarihi 1 Haziran 2017
Yayımlandığı Sayı Yıl 2017 Cilt: 7 Sayı: 2

Kaynak Göster

APA Budagaga, A. (2017). Dividend Payment and its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach. International Journal of Economics and Financial Issues, 7(2), 370-376.
AMA Budagaga A. Dividend Payment and its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach. IJEFI. Haziran 2017;7(2):370-376.
Chicago Budagaga, Akram. “Dividend Payment and Its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach”. International Journal of Economics and Financial Issues 7, sy. 2 (Haziran 2017): 370-76.
EndNote Budagaga A (01 Haziran 2017) Dividend Payment and its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach. International Journal of Economics and Financial Issues 7 2 370–376.
IEEE A. Budagaga, “Dividend Payment and its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach”, IJEFI, c. 7, sy. 2, ss. 370–376, 2017.
ISNAD Budagaga, Akram. “Dividend Payment and Its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach”. International Journal of Economics and Financial Issues 7/2 (Haziran 2017), 370-376.
JAMA Budagaga A. Dividend Payment and its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach. IJEFI. 2017;7:370–376.
MLA Budagaga, Akram. “Dividend Payment and Its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach”. International Journal of Economics and Financial Issues, c. 7, sy. 2, 2017, ss. 370-6.
Vancouver Budagaga A. Dividend Payment and its Impact on the Value of Firms Listed on Istanbul Stock Exchange: A Residual Income Approach. IJEFI. 2017;7(2):370-6.