Latinamerican Dividends: do they fit in any theory?

We test different predictions of the pecking order and trade-of theories for the dividends of a sample of Latin-American firms in seven countries covering the years 1999 to 2005. Most of the theoretical predictions are confirmed by the data; our tests also report a high speed of adjustment in the di...

Full description

Autores:
Arcos Mora, Mauricio Alejandro
Berggrun Preciado, Luis
Benavides Franco, Julián
Tipo de recurso:
Work document
Fecha de publicación:
2007
Institución:
Universidad ICESI
Repositorio:
Repositorio ICESI
Idioma:
eng
OAI Identifier:
oai:repository.icesi.edu.co:10906/65243
Acceso en línea:
http://hdl.handle.net/10906/65243
Palabra clave:
Dividends
Pecking order theory
Trade-Off theory
Dividend Payout
Dividendos
Empresas
América Latina
Rights
openAccess
License
http://creativecommons.org/licenses/by-nc-nd/4.0/
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oai_identifier_str oai:repository.icesi.edu.co:10906/65243
network_acronym_str ICESI2
network_name_str Repositorio ICESI
repository_id_str
dc.title.spa.fl_str_mv Latinamerican Dividends: do they fit in any theory?
title Latinamerican Dividends: do they fit in any theory?
spellingShingle Latinamerican Dividends: do they fit in any theory?
Dividends
Pecking order theory
Trade-Off theory
Dividend Payout
Dividendos
Empresas
América Latina
title_short Latinamerican Dividends: do they fit in any theory?
title_full Latinamerican Dividends: do they fit in any theory?
title_fullStr Latinamerican Dividends: do they fit in any theory?
title_full_unstemmed Latinamerican Dividends: do they fit in any theory?
title_sort Latinamerican Dividends: do they fit in any theory?
dc.creator.fl_str_mv Arcos Mora, Mauricio Alejandro
Berggrun Preciado, Luis
Benavides Franco, Julián
dc.contributor.author.spa.fl_str_mv Arcos Mora, Mauricio Alejandro
Berggrun Preciado, Luis
Benavides Franco, Julián
dc.subject.proposal.eng.fl_str_mv Dividends
Pecking order theory
Trade-Off theory
Dividend Payout
topic Dividends
Pecking order theory
Trade-Off theory
Dividend Payout
Dividendos
Empresas
América Latina
dc.subject.proposal.spa.fl_str_mv Dividendos
Empresas
América Latina
description We test different predictions of the pecking order and trade-of theories for the dividends of a sample of Latin-American firms in seven countries covering the years 1999 to 2005. Most of the theoretical predictions are confirmed by the data; our tests also report a high speed of adjustment in the dividend levels of the firms in the sample. A simple model testing the effect of the payout level on the dividend yield, find some support for the tax advantage of capital gains over dividends
publishDate 2007
dc.date.issued.none.fl_str_mv 2007-01-01
dc.date.accessioned.none.fl_str_mv 2012-02-21T20:44:21Z
dc.date.available.none.fl_str_mv 2012-02-21T20:44:21Z
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dc.language.iso.spa.fl_str_mv eng
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dc.format.extent.spa.fl_str_mv 1-24 páginas
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dc.coverage.spatial.spa.fl_str_mv Cali de Lat: 03 24 00 N degrees minutes Lat: 3.4000 decimal degrees Long: 076 30 00 W degrees minutes Long: -76.5000 decimal degrees.
dc.publisher.spa.fl_str_mv Universidad Icesi
dc.publisher.faculty.spa.fl_str_mv Facultad de Ciencias Administrativas y Económicas
dc.publisher.program.spa.fl_str_mv Contaduría Pública y Finanzas Internacionales
dc.publisher.department.spa.fl_str_mv Departamento Contable y Financiero
dc.publisher.place.spa.fl_str_mv Santiago de Cali
institution Universidad ICESI
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spelling Arcos Mora, Mauricio AlejandroBerggrun Preciado, LuisBenavides Franco, Juliánmarcos@icesi.edu.cojbenavid@icesi.edu.colberggru@icesi.edu.coCali de Lat: 03 24 00 N degrees minutes Lat: 3.4000 decimal degrees Long: 076 30 00 W degrees minutes Long: -76.5000 decimal degrees.2012-02-21T20:44:21Z2012-02-21T20:44:21Z2007-01-01http://hdl.handle.net/10906/65243instname:Universidad Icesireponame:Biblioteca Digitalrepourl:https://repository.icesi.edu.co/We test different predictions of the pecking order and trade-of theories for the dividends of a sample of Latin-American firms in seven countries covering the years 1999 to 2005. Most of the theoretical predictions are confirmed by the data; our tests also report a high speed of adjustment in the dividend levels of the firms in the sample. A simple model testing the effect of the payout level on the dividend yield, find some support for the tax advantage of capital gains over dividends1-24 páginasDigitalapplication/pdfengUniversidad IcesiFacultad de Ciencias Administrativas y EconómicasContaduría Pública y Finanzas InternacionalesDepartamento Contable y FinancieroSantiago de CaliEL AUTOR, expresa que la obra objeto de la presente autorización es original y la elaboró sin quebrantar ni suplantar los derechos de autor de terceros, y de tal forma, la obra es de su exclusiva autoría y tiene la titularidad sobre éste. PARÁGRAFO: en caso de queja o acción por parte de un tercero referente a los derechos de autor sobre el artículo, folleto o libro en cuestión, EL AUTOR, asumirá la responsabilidad total, y saldrá en defensa de los derechos aquí autorizados; para todos los efectos, la Universidad Icesi actúa como un tercero de buena fe. Esta autorización, permite a la Universidad Icesi, de forma indefinida, para que en los términos establecidos en la Ley 23 de 1982, la Ley 44 de 1993, leyes y jurisprudencia vigente al respecto, haga publicación de este con fines educativos Toda persona que consulte ya sea la biblioteca o en medio electróico podrá copiar apartes del texto citando siempre la fuentes, es decir el título del trabajo y el autor.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessAtribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)http://purl.org/coar/access_right/c_abf2Latinamerican Dividends: do they fit in any theory?Comunidad Universidad Icesi – InvestigadoresDividendsPecking order theoryTrade-Off theoryDividend PayoutDividendosEmpresasAmérica Latinahttp://purl.org/coar/resource_type/c_8042Documento de trabajoinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/workingPaperORIGINALlatinamerican_dividends.pdflatinamerican_dividends.pdfapplication/pdf182099https://repository.icesi.edu.co/bitstreams/5f9b8cf1-426e-7785-e053-2cc003c84dc5/download7e31d07c8357022566611a0d8024b0cbMD51CC-LICENSElicense_urllicense_urltext/plain49https://repository.icesi.edu.co/bitstreams/5f9b8cf1-426f-7785-e053-2cc003c84dc5/downloadfd26723f8d7edacdb29e3f03465c3b03MD52license_textlicense_textapplication/octet-stream21926https://repository.icesi.edu.co/bitstreams/5f9b8cf1-4270-7785-e053-2cc003c84dc5/downloadd388d4ceb74a99207c499bfab8db1a10MD53license_rdflicense_rdfapplication/octet-stream22765https://repository.icesi.edu.co/bitstreams/5f9b8cf1-4271-7785-e053-2cc003c84dc5/download56265f5776a16a05899187d30899c530MD54TEXTlatinamerican_dividends.pdf.txtlatinamerican_dividends.pdf.txttext/plain46858https://repository.icesi.edu.co/bitstreams/5f9b8cf1-4276-7785-e053-2cc003c84dc5/download7292fb54fce85ac11d3d635e4333f55bMD55THUMBNAILlatinamerican_dividends.pdf.jpglatinamerican_dividends.pdf.jpgIM Thumbnailimage/jpeg6374https://repository.icesi.edu.co/bitstreams/ff7a1ca8-08aa-4966-88d9-9fc459af9903/download9977f33c8c1f22f05ca5fb641aa20659MD5610906/65243oai:repository.icesi.edu.co:10906/652432025-06-21 22:01:39.172http://creativecommons.org/licenses/by-nc-nd/4.0/Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)open.accesshttps://repository.icesi.edu.coBiblioteca Digital - Universidad Icesiadquisicion-bib@listas.icesi.edu.co

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