{"product_id":"dividend-policy-and-behavior-in-an-emerging-market-von-sabur-mollah","title":"Dividend Policy and Behavior in an Emerging Market","description":"\u003cp\u003e''The harder we look at the dividend picture, the  more it seems like a puzzle, with pieces that just  don''t fit together'' (Black 1976, p. 5). A number of  researchers provide insights, theoretical as well as  empirical, into the dividend policy puzzle. The  issue as to why firms pay dividends is as yet  unresolved. There is no unanimity among researchers  but everyone agrees that the issue is important, as  dividend payment is one of the most commonly  observed phenomenon in corporations world-wide.  The empirical results identify leverage, size,  insider ownership, and collateralizable assets as  the major determinants of dividend policy. The  empirical results document that dividend decision is  primarily governed by cash flow for measuring the  capacity of the companies to pay dividends and  dividends paid in the previous years. The empirical  results also identify Brittain''s (1966) partial  adjusted model as the best-fit dividend behavioural  model. As insiders trade in the market, information  used to be adjusted with the share  prices before announcement, therefore, dividend  announcement does not convey any new information to  the emerging market.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783838337319\"\u003e\u003ch3\u003eEvidence from Dhaka Stock Exchange\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783838337319","offer_id":39498954276957,"sku":"9783838337319","price":79.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/5b6828fa-3ee5-4a4b-92fe-3ccc6e9057e5.jpg?v=1758345905","url":"https:\/\/shop.autorenwelt.de\/en\/products\/dividend-policy-and-behavior-in-an-emerging-market-von-sabur-mollah","provider":"Autorenwelt Shop","version":"1.0","type":"link"}