Summary of Literature Review on Dividends - 2145 Words

Assignment 1 Examined topic or field of the literature review article The article is called Dividend policy: A review of Theories and Empirical Evidence. In this article, the main theories on dividend policy are described and their credibility is evaluated. Connection between the reviewed paper and my research proposal According to my research proposal, the master thesis topic will be â€Å"Comparative analysis of companies’ dividend policy: international perspective†. Therefore, the literature review on dividend policy has a direct connection to my research proposal. There are several factors that explain this connection. First of all, any master thesis has to start with a literature review of existing studies in the studied area†¦show more content†¦Initially, investors received not only the dividends but also their initial investment each time the ship voyage was successful. Eventually, the initial investment was no longer returned after each voyage. Instead, investors would receive a dividend from their initial investment after each successful voyage. At a certain point, this form of financing business activities transferred onto other business activities. Dividend payout played a very important role which was much greater than the role of capital gains income because investors did not fully trust reports (which were not very reliable at that time) and wanted to avoid risk associated with the uncertainty of share prices. These works are not as important as other works because in my master thesis I am planning to analyze the contemporary situation and not the historical perspective, however they are useful for general knowledge and also some of these information should be placed in the master thesis. 4. The works describing and analyzing the key dividend theories These works can be further divided into subgroups, depending on which theory they describe and analyze: Dividend Irrelevance Hypothesis a) Modigliani, Franco, and Merton H. Miller, 1958, The Cost of Capital, Corporation Finance and the Theory of Investment, American Economic Review 48, 261-297. High dividends increase stock valueShow MoreRelatedData Analysis : A Critical Analysis Of The 2008 Financial Crisis1054 Words   |  5 Pagesfuture researchers hence should be seen as the first retail based research on the LSE in relation to the effect of 2008 financial crisis on dividend policy. Hence, these study limitations provide some interesting ideas for further research. In the future, some of the limitations could be solved by examining the impact of the financial crisis on the dividend payment policy on a greater scale. Thus, a suggestion for future research could be to increase the sample size by including more firms, for exampleRead MoreReview on Kaplan and Zingales Research Paper About Relationship Between Investment Cash Flow and Financial Constraint1067 Words   |  5 PagesReview and Evaluation on ‘Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints’ by Kaplan and Zingales (QJE,1997) The research paper written by Steven N. Kaplan and Luigi Zingales as titled above which was published in year 1997 is to test the relationship linking investment-cash flow with financial constraint. In their research, they found that firm with a low level of financial constraint have a tendency to have a high investment-cash flow sensitivity. HoweverRead MoreA Brief Note On The Worlds Largest Medical Technology Company1083 Words   |  5 Pagesbillion in 2013(Y-Charts, 2014). The stock price of Medtronic has increased in value by 13.41% since July of 2013. The forward annual dividend yield is 1.90% and there are 995.76 million shares outstanding (Medtronic, 2013). The dividend payments for Medtronic are currently $.305 cents per share, the dividend payments have been steadily climbing. In 2010 the dividend payment was only $.205 per share. Medtronic’s net profit margin is 20.9% compared to the healthcare industry standard of 16.99% (NYSERead MoreDividends Policy and Common Stock Prices9330 Words   |  38 Pageshow much a company should pay its stockholders, as dividend is one that has been of concern to managers for a long time. The optimal dividend policy of a firm may be defined as the one that increases shareholders wealth by the greatest amount. It is therefore necessary, to understand the nature of the relationship between dividend and value of the firm. It is in the light of this that the study examines the possible effects of a firm’s dividend policy on the market price of its common stock withRead MoreQuestions On Arbitrage Pricing Theory1493 Words   |  6 Pagesreasonable list of factors. First, we want to restrict ourselves to a limited number of systematic factors with considerable ability to explain security returns.† Arbitrage Pricing Theory 1. Introduction †¢ Brief background on the subject from the literature Ever since Ross (1976) proposed the arbitrage pricing theory (APT) as an alternative to the capital pricing model, many economists and investors have applied APT across different markets. Whereas the traditional capital pricing model explainedRead MoreDividend Policy : Review Of Theories2650 Words   |  11 PagesDividend Policy – Review of Theories Introduction Dividend policy refers to the payout policy that a company follows in determining the size and pattern of distributions to shareholders over time. Distribution of cash to shareholders by either payment of dividends and repurchase of shares has been a hotly debated topic amongst scholars. There exists many answers to an optimal dividend policy that satisfies both shareholders and management. With this the company generally faces two operational choicesRead MoreCorporate Finance Practices in Frontier Markets and Malawis Economic Development3233 Words   |  13 Pagesfrontier markets: Empirical evidence companies listed Malawi Stock Exchange Literature review 1. Introduction to the literature review chapter The literature review chapter is designed to provide relevant input from the specialized literature on the topic of corporate frontier markets, with emphasis on four specific elements, namely the capital budgeting practices, the cost capital, the capital structure and the dividend policy. The current section is constructed with in depth research into theRead MoreSamuelson’s Dictum and the Stock Market5657 Words   |  23 Pagesthe dictum that the stock market is ‘‘micro efï ¬ cient’’ but ‘‘macro inefï ¬ cient.’’ That is, the efï ¬ cient markets hypothesis works much better for individual stocks than it does for the aggregate stock market. In this article, we review a strand of evidence in recent literature that supports Samuelson’s dictum and present one simple test, based on a regression and a simple scatter diagram, that vividly illustrates the truth in Samuelson’s dictum for the U.S. stock market data since 1926. (JEL G14) IRead MoreSamuelsons Dictum and the Stock Market5643 Words   |  23 Pagesthe dictum that the stock market is ‘‘micro efï ¬ cient’’ but ‘‘macro inefï ¬ cient.’’ That is, the efï ¬ cient markets hypothesis works much better for individual stocks than it does for the aggregate stock market. In this article, we review a strand of evidence in recent literature that supports Samuelson’s dictum and present one simple test, based on a regression and a simple scatter diagram, that vividly illustrates the truth in Samuelson’s dictum for the U.S. stock market data since 1926. (JEL G14) Read MoreWm Wrigleys Jr Company Case Study2798 Words   |  12 Pagesissuance of $3bn debt. It explores two alternate means of allocation for the funds; pay out a one-time dividend or carry out a share repurchase. Both methods are analyzed in regards to an optimal capital structure and maximizing share holder value (value of the firm). A compilation of historical data and future predictions were used for the basis of this report, and recommendations. Literature Review The following paper will draw on Modigliani and Miller’s (1958) theorem of capital structure to determine

V for Vendetta/ 1984 Comparison - 2315 Words

Comparative Essay Assignment 1984 And V for Vendetta George Washington once said, â€Å"Government is not reason; it is not eloquent; it is force. Like fire it is a dangerous servant and a fearful master.† George Orwell’s satirical novel 1984 is based on the life of Party member Winston Smith, a free thinker, and his battle to restore humanity that has been snatched from the residents of Oceani0a since the totalitarian rule of Big Brother. V for Vendetta, a satirical film directed by James McTeigue, revolves around the actions of an antihero named V and his struggles to re-establish humanity in individuals by rebelling against the government’s rule. In both satires, 1984 and V for Vendetta the concept of humanity is exaggerated in the†¦show more content†¦But they cannot because they are stuck in their own paradoxical situations (â€Å"Catch-22†) and because they have still not realized the fact that the Party leaves them alone and lets them indulge in children, sex, food and access to the lottery i n order to keep them busy and prevent them from revolting. However, their humanity marks them as what they are: the lower class that is kept ignorant in order to prevent uprisings. The proles are loyal to each other in a way that the Party members can never be, but because they are not concerned with the ideologies that oppress them, they are not aware of how their power could affect the world that they inhabit. In 1984 the proles are only made fun of because although they have the strength to rebel they do not and are too busy indulging themselves in petty concerns, like a lack of cooking-pots (Orwell 73). They are even ridiculed by the arch-enemy Goldstein who dismisses them as divisions of low people who are destined to remain powerless. Big Brother does not concern himself with them and ridicules them as ordinary masses that do not have the intellect for an uprising despite their strength in numbers. Similarly, in V for Vendetta, the proles are dissatisfied with Norsefire, but they doShow MoreRelatedThere Is No I in Government: George Orwell ´s 1984 Novel1230 Words   |  5 Pagesnumbers in society than in government. Society is limitless, broad, and expanding. Government is small, limited, and finite. For this reason, the general population should hold no fear in guiding the government in its choices. 1984 written by George Orwell and V for Vendetta directed by James McTeigue are both compelling science fiction stories, with the requisite elements of mystery, suspense, and futuristic universe. The book and the movie, respectively, are much more than simple narratives. UsingRead MoreThe Film V For Vendetta And The Song Get Up Stand Up By Bob Marley3978 Words   |  16 Pages SAE Institute Oxford SAE 502: Critical Analysis Essay The Comparative analyses of the film V for Vendetta and the song Get Up Stand Up by Bob Marley and how they relate to the social context of Marxism. James Cunningham 17658 ADHE0514 Assignment Code Word Count: Module Leader/Lecturer: Ben Hall Table of Contents Title Page Abstract Table of Contents Introduction (word count) Main Body (word Count) Conclusion (word Count) Appendices Reference List IntroductionRead MoreMovie Analysis : V For Vendetta2610 Words   |  11 Pagess adaptation of the graphic novel 300, and James McTeigue s adaptation of V for Vendetta are no exceptions to criticisms of historical accuracy. However, while Zack Snyder s 300 is an attempt to recreate history, and does so in a dramatic, stylized, exaggerated, and biased fashion, V for Vendetta echoes history and uses it as a way to enhance the story. Firstly, it is important to note that both 300 and V for Vendetta are adaptations of graphic novels. Thus, any historical inaccuracies committedRead MoreComparing The Film V For Vendetta And The Song Get Up Stand Up By Bob Marley3921 Words   |  16 PagesComparative analyses exploring the film V for Vendetta and the song Get Up Stand Up by Bob Marley and how they relate to the social context of Marxism. One of the themes that influenced many artists in the past is standing up for your rights. ‘V for Vendetta’ (2005) and ‘Bob Marley’s Get Up, Stand Up’ (1973) has been chosen because the author supports these works fit into the social context of Marxism. From the outset, Marxism will be examined in terms of the historical aspect and materialisticRead More Whistleblowers: Are They Heroes or Traitors? Essay1524 Words   |  7 Pagescreating tension between government and people. With the mass media of today’s world, whistleblowers popularity inflates within seconds, causing a plethora of opinions. Eventually these opinions are put into movies, TV shows, and books. Some bring comparisons between our nation and what it could be and others bring realization of what it is, but it’s all though perception. There are only two perceptions towards whistleblowers. It is either good or bad, there are no gray areas. This is brought onRead MoreSurveillance Has Been A Popular Theme Used By The Entertainment Industry2547 Words   |  11 PagesSurveillance has been a popular theme used by the entertainment industry in the last two decades. Films like the Bourne film series (2002-2012), Equilibrium (2002), V for Vendetta (2005), The Dark Knight (2008), Eagle Eye (2008), The Hunger Games film series (2012-2015) and Captain America: The Winter Soldier (2014) each use and play with this sense that the world is being watched by mysterious, dangerous, and clandestine men in black. Reality television programming, including shows like Big BrotherRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 PagesApplications 239 3 The Group 9 10 11 12 13 14 15 Foundations of Group Behavior 271 Understanding Work Teams 307 Communication 335 Leadership 367 Power and Politics 411 Conflict and Negotiation 445 Foundations of Organization Structure 479 v vi BRIEF CONTENTS 4 The Organization System 16 Organizational Culture 511 17 Human Resource Policies and Practices 543 18 Organizational Change and Stress Management 577 Appendix A Research in Organizational Behavior ComprehensiveRead MoreMarketing Mistakes and Successes175322 Words   |  702 PagesNewell Rubbermaid, Vanguard, Maytag, Harley, Merck, Firestone/Ford, Starbucks, United Way, Nike, MetLife Social and Ethical Starbucks, Merck, Firestone/Ford, United Way, MetLife Outsourcing Boeing/Airbus, Maytag, Nike, Dell Preface †¢ v TARGETED COURSES As a supplemental text, this book can be used in a variety of undergraduate and graduate courses. These range from introduction to marketing/marketing principles to courses in marketing management and strategic marketing. It can

The Importance of Academic Honesty free essay sample

Armed with their desire to finish their college education and get good grades in class, there are certain students who choose to cheat in order to get through the academic turmoil. There are students who feel that through this process, they can earn high points without necessarily going through the difficulty of making one’s own research as well as laboratory activities. While this may be true, academic dishonesty also has its disadvantages. Through cheating, the students are not actually fooling their mentors but themselves. Students should realize that class activities are not required simply for the reason that teachers want their students to suffer. Class activities and home works are required in order to test the learning ability of the student and to give an avenue for the latter to improve his skills and enhance his knowledge. Without these tests and activities, learning will be tantamount to being spoon fed. We will write a custom essay sample on The Importance of Academic Honesty or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Learning does not mean being served on a silver platter, instead, it means finding the courage to explore the wonderful world of education and using the knowledge gained in order to survive daily living. Education is very important as this teaches one on how to act and react to certain situations. In addition, education familiarizes one with world events, history and the skills and tasks needed in order to become a significant part of the society. Through good education, excellent physicians, lawyers, engineers, architects and teachers among others are produced. These professionals become the foundation of a healthy and progressive society. Without education, people suffer. No one will treat the sick, defend the defenseless, build roads, and create buildings. It is utterly difficult to survive in a society wherein there is barely enough to sustain oneself and needs. Education is needed in order for the world to function properly and to have peace and stability. Through the introduction of the different fruits of technology, cheating has become so easy for many students. Among the fruits of technology which contributes to cheating are mobile phones and the internet. Through mobile phones, the students can easily exchange information concerning the answers to an exam or a quiz. They can keep these copies in their mobile phones so that they easily take a look at it when needed (Adkins, Kenkel and Lim). With regard to the internet, there are so many sites which offer academic services and these include paper mills. Through paper mills, the students can easily order a custom made paper anytime of the day and specify the instructions that they need and the urgency for the paper. While many academic institutions consider this as a form of cheating, paper mill companies don’t consider it as such instead they perceive it as a form of extending academic help to a student who is having difficulty complying with school requirements. In addition, paper mills argue that this is not a form of cheating since they are only articulating the ideas of the student and are helping the students learn better since through informing them on how to write a good essay or research paper (Papers 24/7). Whatever be the argument is, the process of ordering papers on line and having someone else do it is greatly frowned by all educational institutions and claim it as a form of dishonesty. In this regard, academic institutions now employ several mechanisms in order to detect academic dishonesty. The most popular of which is the Turnitin. Through this device, educational institutions are able to determine if a paper is plagiarism free or not (Adkins, Kenkel and Lim). In addition to other modes of cheating through the internet is the use of â€Å"ringers†. Students employ the services of experts so that the latter will answer the exams questions for them. This is commonly and easily done since there are many students who have online courses. The detection of this form of dishonesty can easily be detected since this is online (Adkins, Kenkel and Lim). While there are many ways to cheat unnoticed, students must remember that this act also has its dire consequences in the future. Academic degrees, grades and educational institutions graduated from serve as gauge marks for employers. They serve as signs of the students’ capability and skills. If a student has unduly earned these credits, it would be very difficult for him to meet the expectations that are attached with it (Adkins, Kenkel and Lim). He will have a hard time proving himself and his worthiness to such credit; worse, he might need to re-learn all the things that he should have adequately learned in school. It is entirely difficult and humiliating to be proven that you are not entitled to the title that you carry. In addition, this also causes undue harm to the educational institution which the student graduated and earned his degree. It will undermine the level of education that they provide to students.

The Masculine Appeal free essay sample

This essay makes a comparison of the two different toy/game figures Barbie and Tomb Raiders Lara Croft. This essay is comparing the masculinity and femininity of two female figures Lara Croft and Barbie, describing the two figurines in detail. The author provides background information how each figure was created and their proposed purposes and how their images change through the years. The differences all touch on the fact that Lara is masculine and Barbie is feminine. The author concludes with decision that present day society finds a masculine female more appealing than a feminine woman. Barbie and Lara are both beautiful and have great figures, but Lara still gains the attention. It is Laras attitude, the way she is portrayed as a person. Lara has those masculine characteristics that are more appealing in todays society than a weak, panicky female. Lara Croft can take care of herself. We will write a custom essay sample on The Masculine Appeal or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Males are attracted to this because Lara is strong, independent, and beautiful. A woman that does not need protection from a male figure is a wonderful dream for men. Females are attracted to Lara because she can hold her own, she is strong and independent, no help needed from a male partner.