CORPORATE DIVIDEND POLICY: IS IT POSSIBLE TO REACH ECONOMIC CONSENSUS?

Vladimir Mirković; Marija Knežević

doi:10.5937/

Authors

Vladimir Mirković Eurobank EFG a.d. Beograd Author
Marija Knežević Author

DOI:

https://doi.org/10.5937/

Keywords:

dividend policy, MM hypothesis, consensus, index BELEX 15, shareholders

Abstract

Corporate dividend policy is one of the most elaborating topics in the field of economics, but simultaneously it is subject of different controversial opinions. Detailed observation of theoretical postulates regarding dividend policy, as well as famous MillerModigliani dividend irrelevance hypothesis, gave significant help in comprehensive analysis of corporate dividend policy. Taking into account attitudes of eminent economists, authors of this paper, emphasize that well-known thought of economist Fisher Black is still valid so we can say that “the harder we look at the dividends picture, the more it seems like a puzzle, with pieces that just do not fit together”.

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