Dividend Payout Policy

By Mahboubeh Bahreini

This study examines the dividend payout determinants of travel and leisure companies in five Western European countries that are ranked among the world's top 10 tourist destinations, namely, France, Spain, Italy, Germany, and the United Kingdom. The study analyzes the sector and carries out a comparative analysis of six sub-sectors: gambling, hotels, airlines, recreational services, restaurants and bars, and travel and tourism. Hypotheses are developed focusing on three main theories of dividend policy, namely "pecking order", "free cash flow", and "life-cycle" and theories. Panel data random-effects Tobit estimation methodology is used during a ten year period (2005- 2015).

• Format: Paperback
• Language: English
• ISBN: 6206144909
• ISBN13: 9786206144908
• Release Date: February 2023
• Publisher: LAP Lambert Academic Publishing
• Length: 84 Pages
• Weight: 0.30 lbs.
• Dimensions: 0.2" x 6.0" x 9.0"