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Campo DC | Valor |
---|---|
dc.contributor.author | Benito, Andrew |
dc.coverage.spatial | España |
dc.date.accessioned | 2019-08-10T17:41:14Z |
dc.date.available | 2019-08-10T17:41:14Z |
dc.date.issued | 2003-04-03 |
dc.identifier.issn | ISSN: 0213-2710 |
dc.identifier.uri | https://repositorio.bde.es/handle/123456789/6771 |
dc.description.abstract | This paper examines the dividend policies of firms in Spain. Using firm-level panel data, models are estimated for dividend omissions as functions of financial characteristics, whilst also considering a role for persistence. The results are consistent with a tax discrimination model in which cash flow is the marginal source of funds. High degrees of persistence are also found in binary panel data models that control for unobservables and initial conditions. Whilst companies in Spain use the dividend to adjust the balance sheet, such persistence suggests this occurs slowly.[resumen de autor] |
dc.format.extent | 47 p. |
dc.language.iso | en |
dc.publisher | Banco de España. Servicio de Estudios |
dc.relation.ispartof | Documentos de Trabajo / Banco de España, 0303 |
dc.rights | Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0) |
dc.rights | In Copyright - Non Commercial Use Permitted |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/deed.es_ES |
dc.rights.uri | http://rightsstatements.org/vocab/InC-NC/1.0/ |
dc.subject | Dividends |
dc.subject | Financial pressure |
dc.subject | Discrete panel |
dc.title | The incidence and persistence of dividend omissions by Spanish firms |
dc.type | Documento de trabajo |
dc.identifier.bdebib | 000176442 |
dc.identifier.bdepub | DTRA-200303-eng |
dc.subject.bde | Financiación de la empresa |
dc.publisher.bde | Madrid : Banco de España. Servicio de Estudios, 2003 |
dc.subject.jel | G35 |
dc.subject.jel | C23 |
dc.subject.jel | E52 |