Dividend Payout Policy and Life Cycle Theory: An Empirical Evidence from Istanbul Stock Exchange Manufacturing Firms

The paper tests the validty of life cycle theory of dividends in the Turkey by using the dataset of 146 ISE listed manufacturing firms for the period 2006-2011 and employing the logit and probit models. As a result we find the evidence supporting the life cycle theory of dividends in Turkey. In addition to this, firms with high profitability and cash ratio tend to pay more dividends. The findings have important implications for investors.

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Year of publication:	2013
Authors:	Celik, Sibel
Published in:	Anadolu University Journal of Social Sciences. - İktisadi ve İdari Bilimler Fakültesi. - Vol. 13.2013, 2, p. 115-122
Publisher:	İktisadi ve İdari Bilimler Fakültesi
Subject:	Dividend Payout Policy \| Life Cycle Theory \| Panel Logit \| Panel Probit

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Extent:	application/pdf
Type of publication:	Article
Classification:	G30 - Corporate Finance and Governance. General ; G3 - Corporate Finance and Governance
Source:	RePEc - Research Papers in Economics

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