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Shareholder Structure and Dividend Policy in the Developed Markets of Asia-Pacific

Author

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  • Patrick Arndt

    (Mendel University in Brno, Czech Republic)

Abstract

The objective of this study is to examine the relationship between the shareholder structure and dividend policy of an entire region - the developed markets in the Asia-Pacific region. The results show that at least three shareholder groups influence the dividend policy of companies. The group of investment advisors favours higher dividend payments. However, the greatest likelihood to receive extraordinary dividend payments is with shares of companies with a high stake of government investors. Further, the group of minority shareholders show a negative influence, which might be affected by the low interest-rate period and hence the lack of alternative investment opportunities for members of this group.

Suggested Citation

  • Patrick Arndt, 2020. "Shareholder Structure and Dividend Policy in the Developed Markets of Asia-Pacific," European Journal of Business Science and Technology, Mendel University in Brno, Faculty of Business and Economics, vol. 6(1), pages 66-81.
    • Handle: RePEc:men:journl:v:6:y:2020:i:1:p:66-81
    DOI: 10.11118/ejobsat.2020.001
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    References listed on IDEAS

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    1. Clark, Gordon L & Monk, Ashby H B, 2017. "Institutional Investors in Global Markets," OUP Catalogue, Oxford University Press, number 9780198793212.
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    More about this item

    Keywords

    Asia-Pacific; dividend policy; developed markets; shareholder structure; ownership; dividend payments;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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