Analiza polityki dywidend w polskich przedsiębiorstwach notowanych na giełdzie papierów wartościowych w Warszawie
Dividend policy analysis in polish companies quoted on Warsaw stock exchange

Summary/Abstract: Dividend policy is one of the most researched area in corporate finance, but the basic questions asked by Fisher Black, "Why do corporations pay dividends? Why do investors pay attention to dividends?" seems to be still unanswered. One explanation is that dividend is a tool used by managers to send signals to investors about the firm's financial condition reducing asymmetry of information. Moreover, dividends may be determined by the need to distribute the firm's free cash flow to avoid investing in low-return projects. Despite different explanations for dividends there are firms that regularly pay dividends. How do they set their dividend policy? The aim of this paper is to evaluate if the public companies listed on the Warsaw stock exchange that pay dividends regularly have stable dividend policy and to analyse how they set it?

• Details
• Contents