Dividend policy in the context of the pecking order theory
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
The main aim of this article is to define the relationship of degree of asymmetric information with the use of retained earnings by companies in Poland. Asymmetry information was estimated by synthetic measure constructed on the basis of nine indicators. The research shows that the companies with highest degree of asymmetry information have higher level of retaining earnings. Presented empirical investigation are consistent with the pecking order theory.
Authors and Affiliations
Jarosław Kubiak
Keywords
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- EP ID EP94135
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