The present paper provides practical implications for the Central and Eastern European equity investors, who seek dividend income in addition to the capital appreciation. The insight into the dividend puzzle in the CEE companies, provided in the research, gives an overview of the dividend yields and payment stability as well as the relationship between the dividend payments and the type of ownership. Main findings of the study prove that the highest yield and the highest payout ratio are obtained in the case of strategic investor acting as a major shareholder (>10% of ownership capital). Binary logistic regression results provide the possibility to forecast whether the company will pay dividends. The typical dividend payer should not have family/management as a major investor, the ownership still should be concentrated and the investor preferably should be of local origin.
Lace, N., Bistrova, J., & Kozlovskis, K. (2013). Ownership type influence on dividend payments in CEE countries. Business: Theory and Practice, 14(3), 259-266. https://doi.org/10.3846/btp.2013.27
Authors who publish with this journal agree to the following terms
that this article contains no violation of any existing copyright or other third party right or any material of a libelous, confidential, or otherwise unlawful nature, and that I will indemnify and keep indemnified the Editor and THE PUBLISHER against all claims and expenses (including legal costs and expenses) arising from any breach of this warranty and the other warranties on my behalf in this agreement;
that I have obtained permission for and acknowledged the source of any illustrations, diagrams or other material included in the article of which I am not the copyright owner.
on behalf of any co-authors, I agree to this work being published in Creativity Studies as Open Access, and licenced under a Creative Commons Licence, 4.0 https://creativecommons.org/licenses/by/4.0/legalcode. This licence allows for the fullest distribution and re-use of the work for the benefit of scholarly information.
For authors that are not copyright owners in the work (for example government employees), please contact VILNIUS TECH to make alternative agreements.
