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The solution to overcome the disappearing dividend phenomenon: Learning from the experience of the Indonesia Stock Exchange

Cogent economics & finance, 2020, Vol.8 (1), p.1-18 [Peer Reviewed Journal]

2021 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. 2021 ;2021 The Author(s). This open access article is distributed under a Creative Commons Attribution (CC-BY) 4.0 license. This work is licensed under the Creative Commons Attribution License http://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2332-2039 ;EISSN: 2332-2039 ;DOI: 10.1080/23322039.2020.1858566

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  • Title:
    The solution to overcome the disappearing dividend phenomenon: Learning from the experience of the Indonesia Stock Exchange
  • Author: Kisman, Zainul
  • Tiwari, Aviral
  • Subjects: agency cost ; dividend decisions ; Dividends ; investment opportunity ; Learning ; liquidity ; multinomial logit ; Profitability ; size ; solvency ; Stock exchanges
  • Is Part Of: Cogent economics & finance, 2020, Vol.8 (1), p.1-18
  • Description: The purpose of this article is to determine what causes the phenomenon of disappearing dividends, which mostly occurs in stock exchanges in developed and emerging countries. This is the phenomenon of the decreasing probability of issuers to choose to pay dividends (cash, stock, and mixed) rather than not to pay. The results of multinomial logit model show, that size and profitability have a significant positive effect on cash, stock, and mixed dividend decisions. The decision not to pay dividends is influenced by low agency costs, high debt, over-liquidity, and excessive investment opportunities. To overcome this phenomenon, all stakeholders must be able to manage the above cause variables in an integrated manner.
  • Publisher: Abingdon: Taylor & Francis
  • Language: English
  • Identifier: ISSN: 2332-2039
    EISSN: 2332-2039
    DOI: 10.1080/23322039.2020.1858566
  • Source: Taylor & Francis Open Access
    Coronavirus Research Database
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
    DOAJ Directory of Open Access Journals
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