Asian Journal of Research in Banking and Finance, Volume (4), No (8), Year (2014-8) , Pages (42-52)

Title : ( The Effect of Company's Life Cycle on Dividend Policy of Listed Companies on the Tehran Stock Exchange )

Authors: fereshteh moshtagh , Mohammad Reza Abbaszadeh , Mohammad Hossein Vadiei Nowghabi , Mehdi Jabbari Nooghabi ,

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Based on the life cycle theory, firms have various characteristics in various stages of their life cycle.Since the issue of dividend policy always was discussed as one of the most controversial topics of finance science for more than five recent decades. This present essay is mainly aimed at analyzing the effects of company's life cycle on dividend policy of companies listed on the Tehran Stock Exchange. In order to do so, 105 companies listed in the Tehran Stock Exchange (Iran) during 2006 - 2012(735 firm-years) examined. To test the hypotheses we used panel data analysis and GLS (Generalized Least Square) method. The results of the study indicated that dividend policy is influenced by firm’s life cycle stages. In other words, the dividend policy at each stages of the life cycle is significantly different from each other.

Keywords

, Company's Life Cycle , Dividend Policy, Dividend Payout Ratio, Tehran Stock
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@article{paperid:1041553,
author = {Moshtagh, Fereshteh and Abbaszadeh, Mohammad Reza and Vadiei Nowghabi, Mohammad Hossein and Jabbari Nooghabi, Mehdi},
title = {The Effect of Company's Life Cycle on Dividend Policy of Listed Companies on the Tehran Stock Exchange},
journal = {Asian Journal of Research in Banking and Finance},
year = {2014},
volume = {4},
number = {8},
month = {August},
issn = {2249-7323},
pages = {42--52},
numpages = {10},
keywords = {Company's Life Cycle ;Dividend Policy; Dividend Payout Ratio; Tehran Stock Exchange.},
}

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%0 Journal Article
%T The Effect of Company's Life Cycle on Dividend Policy of Listed Companies on the Tehran Stock Exchange
%A Moshtagh, Fereshteh
%A Abbaszadeh, Mohammad Reza
%A Vadiei Nowghabi, Mohammad Hossein
%A Jabbari Nooghabi, Mehdi
%J Asian Journal of Research in Banking and Finance
%@ 2249-7323
%D 2014

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