Dividends, Share Repurchases, and Substitution Hypothesis among UK Companies
Authors
Xing Xie
Corresponding Author
Xing Xie
Available Online August 2016.
- DOI
- 10.2991/essaeme-16.2016.4How to use a DOI?
- Keywords
- Payout policy, Substitution Hypothesis, Share Repurchases, Dividends
- Abstract
This paper uses the UK companies as initial sample to investigate the payout policy and the substitution hypothesis between dividends and share repurchases in the UK. We find the payout choice of a firm is determined by its characteristics. A Lintner's model is used to prove the absence of substitution relationship between dividends and share repurchases in the UK.
- Copyright
- © 2016, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Xing Xie PY - 2016/08 DA - 2016/08 TI - Dividends, Share Repurchases, and Substitution Hypothesis among UK Companies BT - Proceedings of the 2016 International Conference on Economics, Social Science, Arts, Education and Management Engineering PB - Atlantis Press SP - 28 EP - 33 SN - 2352-5398 UR - https://doi.org/10.2991/essaeme-16.2016.4 DO - 10.2991/essaeme-16.2016.4 ID - Xie2016/08 ER -