Proceedings of the 2016 International Conference on Economics, Social Science, Arts, Education and Management Engineering

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/).

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Volume Title
Proceedings of the 2016 International Conference on Economics, Social Science, Arts, Education and Management Engineering
Series
Advances in Social Science, Education and Humanities Research
Publication Date
August 2016
ISBN
10.2991/essaeme-16.2016.4
ISSN
2352-5398
DOI
10.2991/essaeme-16.2016.4How to use a DOI?
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  -