| Issue |
MATEC Web Conf.
Volume 126, 2017
Annual Session of Scientific Papers IMT ORADEA 2017
|
|
|---|---|---|
| Article Number | 04009 | |
| Number of page(s) | 4 | |
| Section | Management And Economic Engineering | |
| DOI | https://doi.org/10.1051/matecconf/201712604009 | |
| Published online | 09 October 2017 | |
Determinants of corporate dividend policy: evidence from romanian listed companies
1 Technical University of Cluj-Napoca, Faculty of Electrical Engineering, Romania, ciprian.cristea@emd.utcluj.ro
2 Technical University of Cluj-Napoca, Faculty of Electrical Engineering, Romania, fagarasan_maria@yahoo.com
* Corresponding author: ciprian.cristea@emd.utcluj.ro
Although there is a vast literature that has investigated the dividend policies of firms from developed countries, relatively little research has been published exploring the dividend policies of firms from emerging countries. The literature regarding establishing the relationship between dividend policy and the attributes of non-financial companies listed on Romanian stock market, to the best of our knowledge, remains inexistent. The aim of this study is to identify the main factors influencing dividend policy for the non-financial companies listed on the Bucharest Stock Exchange for a period of ten years from 2007 to 2016. In order to achieve this aim, panel data were collected from the listed companies’ reports and financial statements. The study reveals that dividend policy is positively related to corporate profitability and liquidity and negatively associated with leverage, size, growth, and the state of the economy.
© The authors, published by EDP Sciences, 2017
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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