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Finance and Credit
 

The analysis of the dividend policy values and market value characteristics for the russian public companies

Vol. 16, Iss. 36, SEPTEMBER 2010

Available online: 23 September 2010

Subject Heading: THE FINANCIAL POLICY

JEL Classification: 

Yudkina L.V. associate professor, All-Russian State Distance Institute of Finance and Economics, affiliates in Archangelsk
main.arhangelsk@vzfei.ru

Berlin J.I. senior lecturer, All-Russian State Distance Institute of Finance and Economics, affiliates in Archangelsk
yberlin@yandex.ru

Here in the article the results are given for the statistical research into studying the interrelationship between dividend policy values and market value characteristics (capitalization) for the Russian public companies. The dividend policy as considered in the analysis is characterized by definitions of a dividend yield, dividend payments and net profit ratio. The dividend policy does not steadily affect capitalization and company market value characteristics. There is a close interrelationship found between capitalization and market value and dividend summary payment. However, this link is viewed here as variable in different years both in form and analytically. Therefore the company market value dependence upon dividend summary payment can’t be steadily observed and reasonably forecast.

Keywords: public companies; capitalization, enterprise value, dividends, dividend policy, correlation analysis

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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