Assistant Prof. of Finance, Department of Management, Neyshabur Branch, Islamic Azad University, Neyshabur, Iran
Abstract
This study aims to contribute to the literature of dividend and empirical research investigating the effects of dynamic factors on dividend policy in Tehran Stock Exchange. Based on some criteria, the study contains 133 non-financial listed firms over 10-year period from 2001 to 2010. To test the research hypotheses, this study uses Fixed Effect model as a static and Generalized Method of Moments as a dynamic regression models. The results show that the most important determinants of dividend are market risk with a negative association, followed by market to book value and then firm size with positive associations respectively. The variable of the government ownership has a negative coefficient and statistically insignificant. It means that affiliated firms to the governments generally tend to pay less dividend but not significantly. Therefore, the determinants of dividend decisions are not significantly different between the two groups of firms.
Asadi, A. (2018). The Investigation of Dynamic Relationship between Firms’ Characteristics and Dividend Policy using Generalized Method of Moments. Accounting and Auditing Research, 10(39), 93-110.
MLA
Abdorreza Asadi. "The Investigation of Dynamic Relationship between Firms’ Characteristics and Dividend Policy using Generalized Method of Moments". Accounting and Auditing Research, 10, 39, 2018, 93-110.
HARVARD
Asadi, A. (2018). 'The Investigation of Dynamic Relationship between Firms’ Characteristics and Dividend Policy using Generalized Method of Moments', Accounting and Auditing Research, 10(39), pp. 93-110.
VANCOUVER
Asadi, A. The Investigation of Dynamic Relationship between Firms’ Characteristics and Dividend Policy using Generalized Method of Moments. Accounting and Auditing Research, 2018; 10(39): 93-110.
)