Research Seminar of Graduate School of Management SPbU took place on May 24, 2016.
At the seminar a paper “Dividend Decisions Of Uk Firms: Beyond Agency Theory” was presented as a result of joint research of Anna Grosman, Assistant Professor at Aston Business School (Birmingham, United Kingdom), Ciaran Driver and Pasquale Scaramozzino, SOAS, University of London.
This paper reports estimates of UK dividend declarations and dividend payments. An additional contribution of the paper is to consider in tandem the decision to pay dividends and the amount paid in the context of various dividend theories. The results showed that perceived investor pressure on firms to disgorge earnings, particularly under conditions of heightened takeover risk is an important determinant of dividend payout. Traditional agency views are not supported and there is only weak evidence for signaling.
SPbU professors, doctoral, master and bachelor students participated in the Seminar. It provided a room for lively scientific discussion.
The Seminar working language - English.