The Influence of Cultural Variables on Payout Policy

Student: Kortunova Sofia

Supervisor: Olga Lazareva

Educational Programme: Strategic Corporate Finance (Master)

Year of Graduation: 2018

The research investigates the influence of Hofstede cultural dimensions (indulgence, masculinity and uncertainty avoidance) on the size and probability of dividends, as well as probability of buybacks. The paper reveal a significant correlation between culture and payout policy.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses