Do firm-level variables impact dividend pay-out? Examining application of two-step system GMM panel model
Bibliographic Data
| ID | 22111624 |
|---|---|
| Authors | Suzan Dsouza (0000-0002-6274-6110, American University of the Middle East, corresponding author), Hassan Nasseredine (0000-0002-4976-1762, American University of the Middle East), Houshang Habibniya (0000-0003-2552-8146, American University of the Middle East), Naliniprava Tripathy (0000-0003-2652-8690, Indian Institute of Management) |
| Year | 2025 |
| Volume | 11 |
| Issue | 1 |
| Publication date | 2025-12-31 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Cogent Social Sciences (JOURNAL) |
| Journal identifiers | ISSN: 2331-1886 • E-ISSN: 2331-1886 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/23311886.2025.2472915 |
| OpenAlex | W4408148434 |
| Language | EN |
| Citations received | 1 |
| References cited | 49 |
This study aims to investigate the impact of profitability, life cycle, liquidity, growth opportunities, leverage, size of the firm, age of the firm, and previous year’s dividend on the dividend decisions of the firms listed on the S&P 500. The two-step system GMM dynamic panel model has been applied to the data set over 11 years from 2010–2021 to ascertain the influencing of variables on the dividend decisions of the firms. The study results indicate a positive and significant effect of the dividend per share of the previous year along with the firm’s profitability, and size on the dividend per share of the firm. It indicates good corporate governance practices that surge the shareholder value. The analysis findings may have several implications for investors, corporate decision-makers, portfolio managers, and policymakers who need to understand the complex factors that influence dividend payout policy. Corporate managers, policymakers, and regulators can lure significant conclusions from the study’s outcomes. The study reinforces the previous studies and sheds new insights on the impact of firm-level variables on dividend decisions of firms and helps the firms devise appropriate strategies to boost the firm’s growth, which is a value driver of financial development in the USA
Business · Dividend · Econometrics · Economics · Panel data · Corporate Finance and Governance · Financial Reporting and Valuation Research · Working Capital and Financial Performance
Corporate financing and investment decisions when firms have information that investors do not have
Some Tests of Specification for Panel Data
Theory of the firm
Another look at the instrumental variable estimation of error-components models
Variables that sway the capital structure! Evidence from the US automotive industry
| Unique citing works | 1 |
|---|---|
| Citations per year | 1 |
| Citation span | 2025 - 2025 (1) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 1 |