Latinamerican Dividends: do they fit in any theory?
We test different predictions of the pecking order and trade-of theories for the dividends of a sample of Latin-American firms in seven countries covering the years 1999 to 2005. Most of the theoretical predictions are confirmed by the data; our tests also report a high speed of adjustment in the di...
- Autores:
-
Arcos Mora, Mauricio Alejandro
Berggrun Preciado, Luis
Benavides Franco, Julián
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2007
- Institución:
- Universidad ICESI
- Repositorio:
- Repositorio ICESI
- Idioma:
- eng
- OAI Identifier:
- oai:repository.icesi.edu.co:10906/65243
- Acceso en línea:
- http://hdl.handle.net/10906/65243
- Palabra clave:
- Dividends
Pecking order theory
Trade-Off theory
Dividend Payout
Dividendos
Empresas
América Latina
- Rights
- openAccess
- License
- https://creativecommons.org/licenses/by-nc-nd/4.0/
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Arcos Mora, Mauricio AlejandroBerggrun Preciado, LuisBenavides Franco, Juliánmarcos@icesi.edu.cojbenavid@icesi.edu.colberggru@icesi.edu.coCali de Lat: 03 24 00 N degrees minutes Lat: 3.4000 decimal degrees Long: 076 30 00 W degrees minutes Long: -76.5000 decimal degrees.2012-02-21T20:44:21Z2012-02-21T20:44:21Z2007-01-01http://hdl.handle.net/10906/65243instname: Universidad Icesireponame: Biblioteca Digitalrepourl: https://repository.icesi.edu.co/We test different predictions of the pecking order and trade-of theories for the dividends of a sample of Latin-American firms in seven countries covering the years 1999 to 2005. Most of the theoretical predictions are confirmed by the data; our tests also report a high speed of adjustment in the dividend levels of the firms in the sample. A simple model testing the effect of the payout level on the dividend yield, find some support for the tax advantage of capital gains over dividends1-24 páginasDigitalapplication/pdfengUniversidad IcesiFacultad de Ciencias Administrativas y EconómicasContaduría Pública y Finanzas InternacionalesDepartamento Contable y FinancieroSantiago de CaliEL AUTOR, expresa que la obra objeto de la presente autorización es original y la elaboró sin quebrantar ni suplantar los derechos de autor de terceros, y de tal forma, la obra es de su exclusiva autoría y tiene la titularidad sobre éste. PARÁGRAFO: en caso de queja o acción por parte de un tercero referente a los derechos de autor sobre el artículo, folleto o libro en cuestión, EL AUTOR, asumirá la responsabilidad total, y saldrá en defensa de los derechos aquí autorizados; para todos los efectos, la Universidad Icesi actúa como un tercero de buena fe. Esta autorización, permite a la Universidad Icesi, de forma indefinida, para que en los términos establecidos en la Ley 23 de 1982, la Ley 44 de 1993, leyes y jurisprudencia vigente al respecto, haga publicación de este con fines educativos Toda persona que consulte ya sea la biblioteca o en medio electróico podrá copiar apartes del texto citando siempre la fuentes, es decir el título del trabajo y el autor.https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessAtribuci�n-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)http://purl.org/coar/access_right/c_abf2DividendsPecking order theoryTrade-Off theoryDividend PayoutDividendosEmpresasAmérica LatinaLatinamerican Dividends: do they fit in any theory?info:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042Documento de trabajoinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/version/c_970fb48d4fbd8a85Comunidad Universidad Icesi – InvestigadoresTEXTlatinamerican_dividends.pdf.txtlatinamerican_dividends.pdf.txttext/plain46858http://repository.icesi.edu.co/biblioteca_digital/bitstream/10906/65243/5/latinamerican_dividends.pdf.txt7292fb54fce85ac11d3d635e4333f55bMD55CC-LICENSElicense_urllicense_urltext/plain49http://repository.icesi.edu.co/biblioteca_digital/bitstream/10906/65243/2/license_urlfd26723f8d7edacdb29e3f03465c3b03MD52license_textlicense_textapplication/octet-stream21926http://repository.icesi.edu.co/biblioteca_digital/bitstream/10906/65243/3/license_textd388d4ceb74a99207c499bfab8db1a10MD53license_rdflicense_rdfapplication/octet-stream22765http://repository.icesi.edu.co/biblioteca_digital/bitstream/10906/65243/4/license_rdf56265f5776a16a05899187d30899c530MD54ORIGINALlatinamerican_dividends.pdflatinamerican_dividends.pdfapplication/pdf182099http://repository.icesi.edu.co/biblioteca_digital/bitstream/10906/65243/1/latinamerican_dividends.pdf7e31d07c8357022566611a0d8024b0cbMD5110906/65243oai:repository.icesi.edu.co:10906/652432018-04-23 15:41:35.58Biblioteca Digital - Universidad icesicdcriollo@icesi.edu.co |
| dc.title.spa.fl_str_mv |
Latinamerican Dividends: do they fit in any theory? |
| title |
Latinamerican Dividends: do they fit in any theory? |
| spellingShingle |
Latinamerican Dividends: do they fit in any theory? Dividends Pecking order theory Trade-Off theory Dividend Payout Dividendos Empresas América Latina |
| title_short |
Latinamerican Dividends: do they fit in any theory? |
| title_full |
Latinamerican Dividends: do they fit in any theory? |
| title_fullStr |
Latinamerican Dividends: do they fit in any theory? |
| title_full_unstemmed |
Latinamerican Dividends: do they fit in any theory? |
| title_sort |
Latinamerican Dividends: do they fit in any theory? |
| dc.creator.fl_str_mv |
Arcos Mora, Mauricio Alejandro Berggrun Preciado, Luis Benavides Franco, Julián |
| dc.contributor.author.spa.fl_str_mv |
Arcos Mora, Mauricio Alejandro Berggrun Preciado, Luis Benavides Franco, Julián |
| dc.subject.eng.fl_str_mv |
Dividends Pecking order theory Trade-Off theory Dividend Payout |
| topic |
Dividends Pecking order theory Trade-Off theory Dividend Payout Dividendos Empresas América Latina |
| dc.subject.spa.fl_str_mv |
Dividendos Empresas América Latina |
| description |
We test different predictions of the pecking order and trade-of theories for the dividends of a sample of Latin-American firms in seven countries covering the years 1999 to 2005. Most of the theoretical predictions are confirmed by the data; our tests also report a high speed of adjustment in the dividend levels of the firms in the sample. A simple model testing the effect of the payout level on the dividend yield, find some support for the tax advantage of capital gains over dividends |
| publishDate |
2007 |
| dc.date.issued.none.fl_str_mv |
2007-01-01 |
| dc.date.accessioned.none.fl_str_mv |
2012-02-21T20:44:21Z |
| dc.date.available.none.fl_str_mv |
2012-02-21T20:44:21Z |
| dc.type.spa.fl_str_mv |
info:eu-repo/semantics/workingPaper |
| dc.type.coar.none.fl_str_mv |
http://purl.org/coar/resource_type/c_8042 |
| dc.type.local.spa.fl_str_mv |
Documento de trabajo |
| dc.type.version.spa.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
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http://purl.org/coar/version/c_970fb48d4fbd8a85 |
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http://purl.org/coar/resource_type/c_8042 |
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publishedVersion |
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http://hdl.handle.net/10906/65243 |
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instname: Universidad Icesi |
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reponame: Biblioteca Digital |
| dc.identifier.repourl.none.fl_str_mv |
repourl: https://repository.icesi.edu.co/ |
| url |
http://hdl.handle.net/10906/65243 |
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instname: Universidad Icesi reponame: Biblioteca Digital repourl: https://repository.icesi.edu.co/ |
| dc.language.iso.spa.fl_str_mv |
eng |
| language |
eng |
| dc.rights.uri.none.fl_str_mv |
https://creativecommons.org/licenses/by-nc-nd/4.0/ |
| dc.rights.accessrights.spa.fl_str_mv |
info:eu-repo/semantics/openAccess |
| dc.rights.license.none.fl_str_mv |
Atribuci�n-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0) |
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http://purl.org/coar/access_right/c_abf2 |
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https://creativecommons.org/licenses/by-nc-nd/4.0/ Atribuci�n-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0) http://purl.org/coar/access_right/c_abf2 |
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openAccess |
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1-24 páginas |
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Digital |
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application/pdf |
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Cali de Lat: 03 24 00 N degrees minutes Lat: 3.4000 decimal degrees Long: 076 30 00 W degrees minutes Long: -76.5000 decimal degrees. |
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Universidad Icesi |
| dc.publisher.faculty.spa.fl_str_mv |
Facultad de Ciencias Administrativas y Económicas |
| dc.publisher.program.spa.fl_str_mv |
Contaduría Pública y Finanzas Internacionales |
| dc.publisher.department.spa.fl_str_mv |
Departamento Contable y Financiero |
| dc.publisher.place.spa.fl_str_mv |
Santiago de Cali |
| institution |
Universidad ICESI |
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