English, Article edition: The perception of dividends by Canadian managers: new survey evidence H. Kent Baker; Samir Saadi; Devinder Gandhi; ...

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/28450
Physical Description
  • article
Language
  • English

Edition details

Title
  • The perception of dividends by Canadian managers: new survey evidence
Author
  • H. Kent Baker
  • Samir Saadi
  • Devinder Gandhi
  • Shantanu Dutta
Physical Description
  • article
Notes
  • Purpose – The purpose of this research is to analyze survey results on the perception of dividends by managers of dividend-paying firms listed on the Toronto Stock Exchange (TSX). Design/​methodology/​approach – Managers from a sample of 291 dividend-paying TSX-listed Canadian firms were surveyed about their views on dividends. Findings – The most important factors influencing dividend policy are the level of current and expected future earnings, the stability of earnings, and the pattern of past dividends. Despite dramatic differences in the level of ownership concentration between Canadian and US firms, their corresponding managers' views on the determinants of dividends are similar. Canadian managers believe that dividend policy affects firm value but express little agreement with the theory of a residual dividend policy. They express strong support for the signaling and lifecycle explanations for paying dividends, but not for the bird-in-the-hand, tax-preference and dividend clientele, agency cost, or catering explanations. Compared with non-dividend payers, Canadian dividend-paying firms are significantly larger and more profitable, have greater cash reserves and ownership concentration, and have fewer growth opportunities. Originality/​value – This study updates and expands previous survey-based research on dividends and provides new evidence from managers of Canadian firms.
  • Canada, Dividends, Managers, Surveys
  • RePEc:eme:ijmfpp:v:3:y:2007:i:1:p:70-91
Language
  • English
Contributed by
OAIster

Get this edition

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment