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Journal of Economic and Social Development, Vol. 2 No. 2, 2015.

Review article

DIVIDENDS ON COMMON AND PREFERRED SHARES: THE RELATIONSHIP WITH THE OWNERSHIP CONCENTRATION IN RUSSIAN PUBLIC COMPANIES

Irina Berezinets
Yulia Ilina
Lyudmila Alekseeva

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Abstract

This paper investigates the relationship between the dividend policy and ownership structure in Russian
public companies. A study of the link between dividends and ownership concentration is based on the
sample of public companies with dual class share structure. These shares were traded on the Russian
Trading System (RTS) in the period of 2003-2009. The authors explore a broad range of factors related to
the ownership concentration. This study allows making conclusions on the impact of the ownership
concentration on the dividend policy. Moreover, there is evidence that this impact differs for the
dividends on ordinary and preferred shares.

Keywords

dividends; corporate governance; public companies; dual class shares; ownership concentration

Hrčak ID:

123667

URI

https://hrcak.srce.hr/123667

Publication date:

30.6.2015.

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