Dividends and Dividend Policy

H. Kent Baker 지음

Wiley 2009년 04월 27일 출간

작품소개

책소개

Dividends And Dividend PolicyAs part of the Robert W. Kolb Series in Finance, Dividends and Dividend Policy aims to be the essential guide to dividends and their impact on shareholder value. Issues concerning dividends and dividend policy have always posed challenges to both academics and professionals. While all the pieces to the dividend puzzle may not be in place yet, the information found here can help you gain a firm understanding of this dynamic discipline.Comprising twenty-eight chapters-contributed by both top academics and financial experts in the field-this well-rounded resource discusses everything from corporate dividend decisions to the role behavioral finance plays in dividend policy. Along the way, you'll gain valuable insights into the history, trends, and determinants of dividends and dividend policy, and discover the different approaches firms are taking when it comes to dividends.Whether you're a seasoned financial professional or just beginning your journey in the world of finance, having a firm understanding of the issues surrounding dividends and dividend policy is now more important than ever. With this book as your guide, you'll be prepared to make the most informed dividend-related decisions possible-even in the most challenging economic conditions.The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals.

목차

Acknowledgments.PART I Dividends and Dividend Policy: History, Trends, and Determinants.1. Dividends and Dividend Policy: An Overview.Introduction.Dividends and Dividend Policy: History, Trends, and Determinants.Cash Dividends: Theoretical and Empirical Evidence.Share Repurchases.Other Distribution Methods.Survey Evidence on Dividends and Dividend Policy.Other Dividend Issues.Conclusions.References.About the Author.2. The Historical Evolution of Dividends.Introduction.A Historical Overview.Corporations, Returns, and Dividends before 1800.Dividends in the Nineteenth Century.Dividends in the Twentieth and Twenty-First Centuries.Conclusions.References.About the Author.3. Trends in Dividends: Payers and Payouts.Introduction.Disappearing Dividends.Reappearing Dividends.&Conclusions.References.About the Authors.4. Factors Influencing Dividends.Introduction.Firm Characteristics.Market Characteristics.Substitute Forms of Payout.Conclusions.References.About the Authors.5. Cross-Country Determinants of Payout Policy: European Firms.Introduction.Dividend Policies of European Firms.Fraction of Dividends - Paying Firms.&European Dividend Policy: Survey of Managers.Conclusions.References.About the Authors.PART II Cash Dividends: Theoretical and Empirical Evidence.6. Dividend Irrelevance Theory.Introduction.Theories before Irrelevance.MM&-s Dividend Irrelevance.The Impact of Market Imperfections.Recent Challenges to Irrelevance.Conclusions.References.About the Authors.7. Residual Dividend Policy.Introduction.Conceptual Basis.Macro Analysis of Dividend Behavior.Inferences from Accounting Data and Market Reactions.Survey Evidence.Conclusions.References.About the Author.8. Taxes and Clientele Effects.I

작가정보

저자(글) H. Kent Baker

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H. Kent Baker, PhD, CFA, CMA, is University Professor of Finance at the Kogod School of Business at American University, Washington, D.C. Before joining the faculty at American University in 1975, he held both faculty and administrative positions at Georgetown University and the University of Maryland. Baker has published extensively in leading academic and professional finance journals. He has consulting and training experience with more than 100 organizations, and has been listed in fifteen biographies, including Who's Who in Finance and Industry, Who's Who in the East, and Outstanding Educators of America.Robert W. Kolb is the Frank W. Considine Chair of Applied Ethics and Professor of Finance at Loyola University, Chicago. Before this, he was the Assistant Dean, Business and Society, and Director, Center for Business and Society, at the University of Colorado at Boulder, and department chairman at the University of Miami. Kolb is also the author of over twenty books on finance, derivatives, and futures, and has authored numerous articles in leading finance journals.