Propensity to pay dividends and catering incentives in Thailand
Propensity to pay dividends and catering incentives in Thailand
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2013
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eng
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application/pdf
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11 pages
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Studies in Economics and Finance 30,1 (2013): 45-55
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Abstract
The paper aims to measure the investors' demand for dividends in Thailand and examine whether the demand for dividends could link to the firms' decisions to pay dividends. The positive dividend premiums show that investors in Thailand having the preference towards dividend, even though the dividend incomes could be taxed more heavily than capital gain in Thailand. After controlling the effect of 1997 Asian Crisis, there is the evidence to support the catering theory of dividends.