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 Dividend policy: signaling or maturity hypothesis?
Please use this identifier to cite or link to this item http://hdl.handle.net/10773/8446

title: Dividend policy: signaling or maturity hypothesis?
authors: Vieira, Elisabete F. Simões
keywords: Cash Dividends
Maturity Hypothesis
Signalling Hypothesis
issue date: 2012
publisher: JAMI
abstract: We analyse the assumptions of the dividend signalling hypothesis, using data from three European countries. The results do not give strong support for the dividend signalling hypothesis. In addition, we relate the signalling and the maturity hypotheses as two competing explanations for the information content of dividends. Although we find some evidence for the maturity hypothesis, the results are not clear if dividend increases are a sign of maturity or used by firms to convey to the market their future prospects, suggesting that the dividend policy cannot be totally explained by neither the signalling hypothesis nor the maturity hypothesis.
URI: http://hdl.handle.net/10773/8446
ISSN: 2225-3467
publisher version/DOI: http://www.jami.org.ua
source: Journal of Applied Management and Investments
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