Effect of dividend payments on the value of shares listed on the Warsaw Stock Exchange Cover Image

Wpływ wypłat dywidendy na wartość akcji spółek notowanych na Giełdzie Papierów Wartościowych w Warszawie
Effect of dividend payments on the value of shares listed on the Warsaw Stock Exchange

Author(s): Rafał Tuzimek
Subject(s): Economy
Published by: Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
Keywords: dividends; abnormal rate of return; cumulated abnormal rate of return; CAR; dividend policy; corporate value; Warsaw Stock Exchange

Summary/Abstract: In this paper the author has taken the theme of the impact of dividend policy for the value of the company. The aim of this study is to determine the effect of information about dividends for abnormal rates of returns on those shares. The results of empirical studies conducted on developed and developing capital markets, as well as the results of the study conducted by the author on the Stock Exchange in Warsaw indicate that the adequate activity in terms of dividend policy may increase corporate value and generate abnormal rates of return on capital investments.

  • Issue Year: 2012
  • Issue No: 254
  • Page Range: 333-346
  • Page Count: 14
  • Language: Polish