Dividend Policy: the Impact on the Market Value of Companies

Student: Efremova Tatiana

Faculty: St.Petersburg School of Economics and Management

Educational Programme: Economics (Bachelor)

Year of Graduation: 2019

The theme of this work: "Dividend policy: the impact on the market value of the company." The analysis was carried out on the basis of Russian companies, which is quite relevant, since not so much research was carried out, including Russian companies. The purpose of this work is to detect the impact of dividend policy on the market value of the company. The main objectives of the study were: studying the scientific literature on this topic, collecting data based on the company's financial statements and information that is publicly available, as well as analyzing and interpreting the results obtained. The study was conducted on the basis of about 70 companies, but this number of observations varied depending on the study. In addition to the main hypothesis, the hypothesis about the J-shaped form of the influence of dividend policy on the company's market value was also tested.

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