the chapter studies which dividend policies theories drive the distribution of dividends for listed companies traded on the main European markets. Many drivers of companies' dividend policies are still present while the agency cost theory does not explain European dividend policy. In this chapter, they provide evidence that pecking order theory, signalling theory and bird-in-the-hand theory complementarily explain dividends' payments.
The drivers of dividend policies in Europe
CHESINI, Giuseppina;GIARETTA, ELISA
2016-01-01
Abstract
the chapter studies which dividend policies theories drive the distribution of dividends for listed companies traded on the main European markets. Many drivers of companies' dividend policies are still present while the agency cost theory does not explain European dividend policy. In this chapter, they provide evidence that pecking order theory, signalling theory and bird-in-the-hand theory complementarily explain dividends' payments.
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