The Factors Determining the Dividend Policy of Russian Listed Companies

The current study covers the analysis of financial factors affecting the dividend policy of Russian companies listed on the Moscow Stock Exchange, and the correlation between these factors and the dividend payments in the period from 2004 to 2012. Relevance of the work supported by the fact that Russian standards dividend policy are still far from the western ones. In this paper the previous approaches of this problem have been studied in both developed and emerging market conditions. In the empirical study author used econometric approach to identify links between the determinants of dividend policy and its nature.The main conclusion of the work was the fact that the Russian market is very specific, and therefore there were some problems in the study, which somehow affected the results. Future directions for research may be to expand the scope of the question, namely, to make the deeper analysis of the qualitative factors affecting the dividend policy.Phone: 8 (905) 596-88-04 E-mail: juclesia93@gmail.com