Please use this identifier to cite or link to this item:
Type of publication: research article
Type of publication (PDB): Straipsnis recenzuojamoje Lietuvos tarptautinės konferencijos medžiagoje / Article in peer-reviewed Lithuanian international conference proceedings (P1e)
Field of Science: Vadyba / Management (S003)
Author(s): Juočiūnienė, Dalia;Zenevičienė, Andrė
Title: Dividendų finansinis signalizavimas Lietuvos akcijų rinkoje
Other Title: Dividend financial signaling in Lithuanian stock market
Is part of: Apskaitos ir finansų mokslas ir studijos: problemos ir perspektyvos : septintosios tarptautinės mokslinės konferencijos straipsnių rinkinys. Kaunas : Akademija, 2010, Nr. 1(7) 2010
Extent: p. 83-92
Date: 2010
Keywords: Dividendai;Finansinis signalizavimas;Lietuvos akcijų rinka;Dividends;Financial signalling;Lithuanian stock market
Abstract: Straipsnyje nagrinėjamas dividendų kaip finansinio signalo nesųo vaidmuo Lietuvos akcijų rinkoje. Autorės, išanalizavusios mokslininkų atlikių dividendų signalinio efekto empirinių tyrimų rezultatus ir taikytas melodikas, paleikia metodiką, pagal kurią tiriamas dividendų finansinio signalizavimo stiprumas Lietuvos akcijų rinkoje. Atliklas empirinis tyrimas parodė, jog daugumoje Lietuvos įmonių dividendai neatlieka finansinio signalo nešėjo vaidmens, o į dividendų politiką Lietuvoje Žiūrima kaip į finansinį sprendimą
There are a lol of discussions among scientists about the dividend role in stock market. Many scientific researches on the dividend signalling effect topic are performed in stable slock markets. The number of researches in markets where the business traditions arc not formed is little. The roie of dividends as financial signal in Lithuanian stock market is investigated in the article. Analysing the empirical research results about dividend signal effect and the employed methods in that researches, the authors propose the methods. On the ground of these methods, the dividend financial signalling strength in Lithuanian stock market is analyzed in the article. Analysing the elTect of the dividend signal effect on Lithuanian stock market, four propositions arc formulated. If at least one proposition is confirmed, it is possible to state that the dividend signal effect exists in the stock market: ■ dividends have the positive relation with profitability and stability indexes; " siock price increases, when dividends increase; • dividends decrease when company's investments increase, ■ with the increased dividends the larger future earnings as well as company's profit are expected. In order to reason or reject the propositions, the dependences between Lithuanian joint stock companies' paid dividends and these independent variables were analyzed: return on capital employed, leverage coefficient, future investments, future profit, profit for last period, stock market price and stock market price changes. The performed empirical iescarch revealed that the strength of dividend signal effect in Lithuanian stock market is low, and dividend payout is considered as a financial decision in Lithuanian companies
Affiliation(s): Vytauto Didžiojo universitetas
Žemės ūkio akademija
Appears in Collections:Universiteto mokslo publikacijos / University Research Publications

Show full item record
Export via OAI-PMH Interface in XML Formats
Export to Other Non-XML Formats

CORE Recommender

Page view(s)

checked on Jun 6, 2021


checked on Jun 6, 2021

Google ScholarTM


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.