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Individual investors' perceptions towards dividends: the case of Greece

Author

Listed:
  • Dimitrios I. Maditinos
  • Zeljko Sevic
  • Nikolaos G. Theriou
  • Alexandra V. Tsinani

Abstract

This study is based on the assumption that there exists a strong preference for dividends among individual investors in Greece. Its main objective is to explore the driving forces that lead retail investors to reveal their preference for either cash or stock dividends. Several of the most important dividend theories were employed to test the behaviour of Greek individual investors towards dividends. The results reveal strong evidence that individual investors in Greece want dividends. Their answers provide strong support for the signalling theory of Bhattacharya (1979), while the behavioural finance theory of Shefrin and Statman (1984) is marginally confirmed.

Suggested Citation

  • Dimitrios I. Maditinos & Zeljko Sevic & Nikolaos G. Theriou & Alexandra V. Tsinani, 2007. "Individual investors' perceptions towards dividends: the case of Greece," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 1(1), pages 18-31.
    • Handle: RePEc:ids:ijmefi:v:1:y:2007:i:1:p:18-31
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    Citations

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    Cited by:

    1. Syed Ali Raza, Mohd Zaini Abd Karim, 2016. "Do Liquidity and Financial Leverage Constrain the Impact of Firm Size and Dividend Payouts on Share Price in Emerging Economy," Journal of Finance and Economics Research, Geist Science, Iqra University, Faculty of Business Administration, vol. 1(2), pages 71-86, October.
    2. Dinh Ngoc & Nguyen Chi Cuong, 2016. "Dividend Announcement and Ex-Dividend Effects on Stock Return," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(7), pages 207-207, July.
    3. Stereńczak, Szymon & Kubiak, Jarosław, 2022. "Dividend policy and stock liquidity: Lessons from Central and Eastern Europe," Research in International Business and Finance, Elsevier, vol. 62(C).
    4. Krishnamoorthy Charith & Andrey Davydenko, 2021. "Informational Value of Dividend Initiations: Impact of Cash Dividends on Share Prices of Manufacturing Companies in Sri Lanka," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 13(3), pages 1-13, March.
    5. Charith, Krishnamoorthy & Davydenko, Andrey, 2021. "Informational Value of Dividend Initiations: Impact of Cash Dividends on Share Prices of Manufacturing Companies in Sri Lanka," SocArXiv jqnt4, Center for Open Science.
    6. Andrey Davydenko & Krishnamoorthy Charith, 2021. "Informationswert von Dividendenausschüttungen: Einfluss von Bardividenden auf die Aktienkurse von produzierenden Unternehmen in Sri Lanka [Informational value of dividend initiations: Impact of cas," Post-Print hal-03359177, HAL.

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