Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela)
The objective of this article is to determine the criteria used in the definition of the dividend policy in the chains of family hypermarkets and supermarkets in the state of Zulia, Venezuela. The research design is non-experimental in the field, with a type of descriptive study. The results showed,...
- Autores:
-
Hernández Chacín, Ana
Hernández Fernández, Lissette
Portillo Medina, Rafael
Hugueth Alba, Alfredo
- Tipo de recurso:
- Article of journal
- Fecha de publicación:
- 2018
- Institución:
- Corporación Universidad de la Costa
- Repositorio:
- REDICUC - Repositorio CUC
- Idioma:
- spa
- OAI Identifier:
- oai:repositorio.cuc.edu.co:11323/7716
- Acceso en línea:
- https://hdl.handle.net/11323/7716
https://repositorio.cuc.edu.co/
- Palabra clave:
- Dividends
family business
hypermarkets
supermarkets
Dividendos
empresa familiar
hipermercados
supermercados
- Rights
- openAccess
- License
- Attribution-NonCommercial 4.0 International
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Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) |
| dc.title.translated.spa.fl_str_mv |
Criterios para la definición de la política de dividendos en empresas familiares (Zulia–Venezuela) |
| title |
Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) |
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Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) Dividends family business hypermarkets supermarkets Dividendos empresa familiar hipermercados supermercados |
| title_short |
Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) |
| title_full |
Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) |
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Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) |
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Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) |
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Criteria for the definition of the dividend policy in family businesses (Zulia-Venezuela) |
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Hernández Chacín, Ana Hernández Fernández, Lissette Portillo Medina, Rafael Hugueth Alba, Alfredo |
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Hernández Chacín, Ana Hernández Fernández, Lissette Portillo Medina, Rafael Hugueth Alba, Alfredo |
| dc.subject.spa.fl_str_mv |
Dividends family business hypermarkets supermarkets Dividendos empresa familiar hipermercados supermercados |
| topic |
Dividends family business hypermarkets supermarkets Dividendos empresa familiar hipermercados supermercados |
| description |
The objective of this article is to determine the criteria used in the definition of the dividend policy in the chains of family hypermarkets and supermarkets in the state of Zulia, Venezuela. The research design is non-experimental in the field, with a type of descriptive study. The results showed, on the one hand, compliance with the legal restrictions defined for the distribution of dividends; and on the other, it highlights a characteristic feature of family businesses, such as responding to the particular needs of shareholders, making it difficult to meet financially suitable criteria for the stability and economic growth of the organization |
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CABRERA,María y GARCÍA, J. 1996. “La empresa familiar: Dimensiones conceptuales y perspectivas teóricas”.Revista europea de dirección y economía de la empresa. Vol. 8, No.:1:7-30. Universidad de Valencia (España). CASTRILLO, Luis y SAN MARTÍN, Juan. 2007. “La propiedad familiar como mecanismo de gobierno disciplinador de la dirección en las empresas mexicanas: una evidencia empírica”. Revista Contaduría y Administración, No.:222:59–82.Universidad Nacional Autónoma de México. Código de Comercio de Venezuela. 2015. Artículo 307 y 920. GALLO, Miguel.1997. “La empresa familiar”. Publicaciones del IESA.Universidad de Navarra. GITMAN, Lawrence. 2007. Principios de administración financiera. Editorial Pearson Adison Wesley, décima primera edición. México. GORDON, Myron. 1963. “Optimal investiment and financing policy”. The Journal of finance.Vol.: 18, Nº.:2:264-272. HIGUEREY, Angel.2008. “Política de dividendos”. Universidad de Los Andes (Venezuela). HORNGREN, Charles ySUNDEM, Gary.1999. Introduction to management accounting. Englewood Cliffs, Editorial: PrenticeHall. HORNGREN, Charles ySUNDEM, Gary.1999. Introduction to management accounting. Englewood Cliffs, Editorial: PrenticeHall. LLORENTE, Virginia. 2012. “Política de dividendos y conflicto de la empresa familiar: El protocolo”. Revista de la Empresa Familiar Vol. 2,No.:1: 55-63. MODIGLIANI, Franco yMILLER, Merton. (1958). "The Cost of Capital, Corporation Finance and the Theory of Investment," American Economic Review.Vol. 48.No.:3: 261-297. MORCK, Randall; SHLEIFER, Andrei yVISHNY, Robert.1988. “Management ownership and market valuation: An empirical analysis”. Journal of Financial Economics, Vol.20: 293–315. NEGREIRA Jesús y NEGREIRA, Francisco. 2006. “El Reparto de dividendos en la empresa familiar”. Revista Harvard Deusto Finanzas y Contabilidad. No. 72: 64-70. PINDADO, Julio., REQUEJO, Ignacio y DE LA TORRE, Chabela. 2012. “Do family firms use dividend policy as a governance mechanism? Evidence from the Euro zone”. Corporate Governance: An International Review, Vol.20, No.: 5: 413–431. RAMLI, Natasha.2010. “Ownership structure and dividend policy: Evidence from Malaysian companies”. International Review of Business Research Papers.Vol. 6 No.: 1: 170–180. ROZEFF, Michael.1982. “Growth, beta and agency costs as determinants of dividend payoutratios”. Journal of Financial Research, Vol. 5, No.: 3: 249–259. SHABBIR, Aqsa; SAFDAR, Tahir; AKBAR, Mehran. (2014). “Corporate governance through ownership structure: Evidence from KSE-100 Index”. South Asian Journal of Management Sciences, Vol. 3.No.: 6: 6–16. SHLEIFER, Andrei. yVISHNY, Robert.1997. A survey of corporate governance”.Journal of Finance. Vol. 52, No.:2: 737–783. WESTON Fred. yBRIGHAM Eugene. 1997. Fundamentos de administración financiera. Editorial Mc Graw Hill10º edición. VANDEMAELE, Sigrid. Y VANCAUTEREN, Mark. 2015. “Nonfinancial goals, governance, and dividend payout in private family firms”. Journal of Small Business Management. Vol. 53, No.:1: 166–182. |
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Hernández Chacín, AnaHernández Fernández, LissettePortillo Medina, RafaelHugueth Alba, Alfredo2021-01-19T16:09:56Z2021-01-19T16:09:56Z20181012-15872477-9385https://hdl.handle.net/11323/7716Corporación Universidad de la CostaREDICUC - Repositorio CUChttps://repositorio.cuc.edu.co/The objective of this article is to determine the criteria used in the definition of the dividend policy in the chains of family hypermarkets and supermarkets in the state of Zulia, Venezuela. The research design is non-experimental in the field, with a type of descriptive study. The results showed, on the one hand, compliance with the legal restrictions defined for the distribution of dividends; and on the other, it highlights a characteristic feature of family businesses, such as responding to the particular needs of shareholders, making it difficult to meet financially suitable criteria for the stability and economic growth of the organizationEste artículo tiene como objetivo determinar los criterios empleados en la definición de la política de dividendos en las cadenas de hipermercados y supermercados familiares en el estado Zulia, Venezuela. El diseño de investigación es no experimental de campo, con un tipo de estudio descriptivo. Los resultados evidenciaron, por una parte, el cumplimiento de las restricciones legales definidas para la distribución de dividendos; y por la otra, destaca un rasgo característico de las empresas familiares, como es responder a las necesidades particulares de los accionistas, dificultando cumplir los criterios financieramente idóneos para la estabilidad y crecimiento económico de la organización.Hernández Chacín, AnaHernández Fernández, LissettePortillo Medina, RafaelHugueth Alba, Alfredoapplication/pdfspaCorporación Universidad de la CostaAttribution-NonCommercial 4.0 Internationalhttp://creativecommons.org/licenses/by-nc/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Opción, Año 34, Especial No.18 (2018)Dividendsfamily businesshypermarketssupermarketsDividendosempresa familiarhipermercadossupermercadosCriteria for the definition of the dividend policy in family businesses (Zulia-Venezuela)Criterios para la definición de la política de dividendos en empresas familiares (Zulia–Venezuela)Artículo de revistahttp://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Textinfo:eu-repo/semantics/articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/acceptedVersionCABRERA,María y GARCÍA, J. 1996. “La empresa familiar: Dimensiones conceptuales y perspectivas teóricas”.Revista europea de dirección y economía de la empresa. Vol. 8, No.:1:7-30. Universidad de Valencia (España).CASTRILLO, Luis y SAN MARTÍN, Juan. 2007. “La propiedad familiar como mecanismo de gobierno disciplinador de la dirección en las empresas mexicanas: una evidencia empírica”. Revista Contaduría y Administración, No.:222:59–82.Universidad Nacional Autónoma de México.Código de Comercio de Venezuela. 2015. Artículo 307 y 920.GALLO, Miguel.1997. “La empresa familiar”. Publicaciones del IESA.Universidad de Navarra.GITMAN, Lawrence. 2007. Principios de administración financiera. Editorial Pearson Adison Wesley, décima primera edición. México.GORDON, Myron. 1963. “Optimal investiment and financing policy”. The Journal of finance.Vol.: 18, Nº.:2:264-272.HIGUEREY, Angel.2008. “Política de dividendos”. Universidad de Los Andes (Venezuela).HORNGREN, Charles ySUNDEM, Gary.1999. Introduction to management accounting. Englewood Cliffs, Editorial: PrenticeHall.HORNGREN, Charles ySUNDEM, Gary.1999. Introduction to management accounting. Englewood Cliffs, Editorial: PrenticeHall.LLORENTE, Virginia. 2012. “Política de dividendos y conflicto de la empresa familiar: El protocolo”. Revista de la Empresa Familiar Vol. 2,No.:1: 55-63.MODIGLIANI, Franco yMILLER, Merton. (1958). "The Cost of Capital, Corporation Finance and the Theory of Investment," American Economic Review.Vol. 48.No.:3: 261-297.MORCK, Randall; SHLEIFER, Andrei yVISHNY, Robert.1988. “Management ownership and market valuation: An empirical analysis”. Journal of Financial Economics, Vol.20: 293–315.NEGREIRA Jesús y NEGREIRA, Francisco. 2006. “El Reparto de dividendos en la empresa familiar”. Revista Harvard Deusto Finanzas y Contabilidad. No. 72: 64-70.PINDADO, Julio., REQUEJO, Ignacio y DE LA TORRE, Chabela. 2012. “Do family firms use dividend policy as a governance mechanism? Evidence from the Euro zone”. Corporate Governance: An International Review, Vol.20, No.: 5: 413–431.RAMLI, Natasha.2010. “Ownership structure and dividend policy: Evidence from Malaysian companies”. International Review of Business Research Papers.Vol. 6 No.: 1: 170–180.ROZEFF, Michael.1982. “Growth, beta and agency costs as determinants of dividend payoutratios”. Journal of Financial Research, Vol. 5, No.: 3: 249–259.SHABBIR, Aqsa; SAFDAR, Tahir; AKBAR, Mehran. (2014). “Corporate governance through ownership structure: Evidence from KSE-100 Index”. South Asian Journal of Management Sciences, Vol. 3.No.: 6: 6–16.SHLEIFER, Andrei. yVISHNY, Robert.1997. A survey of corporate governance”.Journal of Finance. Vol. 52, No.:2: 737–783.WESTON Fred. yBRIGHAM Eugene. 1997. Fundamentos de administración financiera. Editorial Mc Graw Hill10º edición.VANDEMAELE, Sigrid. Y VANCAUTEREN, Mark. 2015. “Nonfinancial goals, governance, and dividend payout in private family firms”. Journal of Small Business Management. 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