Izvorni znanstveni članak
https://doi.org/10.2478/crebss-2019-0007
Internal factors of dividend policy in public firms in Bosnia and Herzegovina
Ante Džidić
orcid.org/0000-0002-0869-7864
; Faculty of Economics, University of Mostar, Bosnia and Herzegovina
Igor Živko
orcid.org/0000-0001-6603-3110
; Faculty of Economics, University of Mostar, Bosnia and Herzegovina
Sažetak
This paper examines the characteristics of dividend paying firms in Bosnia and Herzegovina. The research is conducted on a sample of 35 largest public firms during the period of five years, from 2013 to 2017, using multiple linear regression and logistic regression. The aim of the research is to explore the internal determinants of dividend payouts and to find whether there are any deviations from empirical experiences in the world. The research results show that larger and more profitable firms are more likely to pay dividends, while more indebted and closely held firms are less likely to pay dividends. The negative relation found between the dividend decision and investment opportunities is not statistically significant. The research results also show that the size is positively associated with higher payout ratios, while the payout ratios decrease with greater use of financial leverage. Profitability, investment opportunities and ownership concentration do not affect the level of dividend distribution.
Ključne riječi
determinants; dividends; linear regression; logistic regression
Hrčak ID:
229657
URI
Datum izdavanja:
12.12.2019.
Posjeta: 1.372 *