Drivers that shape corporate payout policy in South Africa

dc.contributor.advisorCarter, Braden
dc.contributor.emailichelp@gibs.co.zaen
dc.contributor.postgraduateSibanda, Bekithembaen
dc.date.accessioned2017-04-07T13:05:34Z
dc.date.available2017-04-07T13:05:34Z
dc.date.created2017-03-30en
dc.date.issued2017en
dc.descriptionMini Dissertation (MBA)--University of Pretoria, 2017.en
dc.description.abstractThis study sought to explore and develop a better understanding of the factors that drove corporate payout policy decisions in South Africa. Recent trends the world over indicate a growing trend of stock repurchases, largely at the expense of dividends, as the preferred payout method firms use to return excess cash. The study was inspired by the research work done by Brav et al., (2005) in the United States of America (US). The study was conducted using fifty survey responses from a sample size of 175 companies listed on the Johannesburg Stock Exchange. The results reported evidence that financial flexibility, catering theory of dividends and price support positively affected a company's payout policy choice. The results were mixed on the signalling theory as an important factor which confirmed the ambiguity of signalling theory. The South African results mirror those of the US results, and the study contributed to growing literature on factors that influence corporate payout policy decisions.en_ZA
dc.description.availabilityUnrestricteden
dc.description.degreeMBAen
dc.description.departmentGordon Institute of Business Science (GIBS)en
dc.description.librarianzk2017en
dc.identifier.citationSibanda, B 2017, Drivers that shape corporate payout policy in South Africa, MBA Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/59772>en
dc.identifier.urihttp://hdl.handle.net/2263/59772
dc.language.isoenen
dc.publisherUniversity of Pretoriaen
dc.rights© 2017 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria.en
dc.subjectUCTDen
dc.titleDrivers that shape corporate payout policy in South Africaen_ZA
dc.typeMini Dissertationen

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