India China - demographic dividend.txt Eye On: Demographics: India and China: Twin Stories of Progress? Posted by Adrienne Villani on September 24‚ 2010 This article was originally published in our new‚ redesigned fortnightly e-magazine. Sign up today! Three decades from now‚ China and India will have vastly divergent demographics. Demography underpins every segment of what is termed development – it drives the choices people make in their everyday lives‚ whether a country’s resources can sustain
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Modigiliani (1961) prove that dividend policy is irrelevant to share value in perfect and efficient capital markets. In this setup‚ no rational investor has a preference between dividends and capital gains. However‚ dividend payout policy is still discussed extensively until now. In this proposal‚ I use a sample of companies from 33 countries around the world to shed light on the relationship among legal origin‚ insider holdings‚ corporate governance‚ and dividend payout policy. This idea mainly comes
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Impact of Dividend Policy on Shareholders’ Wealth of Selected Major Pharmaceutical Units in India CHAPTER IV ANALYSIS OF DIVIDEND PAY OUT TREND 4.1 Introduction Dividend policy has been a concern of significance in financial literature since inception of Joint Stock Companies. Dividends are commonly defined as the distribution of earnings (past or present) in real assets among the shareholders of the firm in proportion to their ownership.xxxix Dividend policy connotes to the payout policy‚ which
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CHAPTER 14: DISTRIBUTIONS TO SHAREHOLDERS: DIVIDENDS AND SHARE REPURCHASES 1. The optimal distribution policy strikes that balance between current dividends and capital gains that maximizes the firm’s stock price. a. True b. False ANSWER: True 2. Other things held constant‚ the higher a firm’s target payout ratio‚ the higher its expected growth rate should be. a. True b. False ANSWER: False RATIONALE: The higher the payout ratio‚ the less of its earnings the firm reinvests in the business
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SHAREHOLDERS: DIVIDENDS AND SHARE REPURCHASES (Difficulty: E = Easy‚ M = Medium‚ and T = Tough) Multiple Choice: Conceptual Easy: Dividends versus capital gains Answer: d Diff: E [i]. Myron Gordon and John Lintner believe that the required return on equity increases as the dividend payout ratio is decreased. Their argument is based on the assumption that a. Investors are indifferent between dividends and capital gains. b. Investors require that the dividend yield and
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statements about dividend policies is CORRECT? a. Modigliani and Miller argue that investors prefer dividends to capital gains because dividends are more certain than capital gains. They call this the ―bird-in-the hand‖ effect. b. One reason that companies tend to avoid stock repurchases is that dividend payments are taxed at a lower rate than gains on stock repurchases. c. One advantage of dividend reinvestment plans is that they allow shareholders to avoid paying taxes on the dividends that they
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Inc. 2008 http://www.eurojournals.com/finance.htm Determinants of Dividend Payout Ratios-A Study of Indian Information Technology Sector Kanwal Anil Jaypee Business School‚ Noida‚ India Sujata Kapoor Institute of Management Studies‚ Ghaziabad‚ India Abstract Profitability has always been considered as a primary indicator of dividend payout ratio. There are numerous other factors other than profitability also that affect dividend decisions of an organization namely cash flows‚ corporate tax‚ sales
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Equity Valuation Lecture Map Definitions of Value Book value‚ Liquidation value‚ Intrinsic value‚ Market value Dividend discount models Constant-growth Multi-stage growth Value Metrics and Determinants of Value Current earnings and growth P/E Lesmond 1 Book Value of Equity The firm’s equity value‚ or stock value‚ is stated right on the firm’s books This is NOT the market value of equity Book value per share of Equity is the value of common equity on the books‚ divided
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The Dividend per share for 2013 and 2016 are given on Value Line. The dividend growth for the years in between is calculated as follows: |Dividend ‘13 |.14 | |Dividend ‘14 |.15 | |Dividend ‘15 |.17 | |Dividend ‘16 |.18 | .18 - .14 = .04; .04/3 = .0133 In order to calculate Value using the 2 stage Dividend Discount Model we must calculate the market capitalization rate
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needs solutions. As one of them‚ some scholars claim that citizens of affluent countries are responsible in reducing poverty in poor countries. The most notable person among this group is Thomas Pogge. He proposes program called “The Global Resources Dividend” (GRD)‚ which is supposed to eradicate poverty in the world. Pogge builds up the program on principle claiming that each individual has “inalienable stake in all limited natural resources” (2001‚ p. 61‚ p. 66). In other words‚ ideally all limited
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