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Determinants of dividend policy in the Netherlands

Kahraman, M. (2021) Determinants of dividend policy in the Netherlands.

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Abstract:This study examines the determinants of dividend policy of 65 Dutch firms listed on the Euronext Amsterdam from 2016 to 2019. This study contributes to solving a piece of the dividend puzzle in a Dutch setting. Both the probability as well as the intensity of paying dividends are investigated. This study finds that there are different determinants for the probability of paying a dividend and for the payout intensity. Overall, the results show that, compared to non-dividend payers, dividend paying Dutch companies are more profitable, have a lower ownership concentration and are larger in size. Additionally, the dividend paying Dutch companies who payout a larger amount of dividend relative to their total assets, have a higher profitability, ownership concentration and growth/investment opportunities, and have lower levels of free cash flow and debt ratios compared to Dutch companies who payout lower levels of dividend relative to their total assets.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:83 economics, 85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:https://purl.utwente.nl/essays/87683
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