Business Commons^™

Not Paying Dividends? A Decomposition Of The Decline In Dividend Payers, Candra S. Chahyadi, Jesus M. Salas

Candra S. Chahyadi

Current payout policy literature contends that firms’ propensity to pay dividends declined between 1978 and 1998. Using the Oaxaca decomposition methodology, we measure changes in the propensity to pay dividends between 1978 and 1998. Results suggest that firms today have only a slightly lower propensity to pay dividends. Furthermore, when we also categorize firms that use stock repurchases as dividend payers, we find that 100% of the decline in the proportion of dividend payers can be explained by changes in firm characteristics only. The difference is that firms that firms are now repurchasing stock instead of paying dividends.

Not Paying Dividends? A Decomposition Of The Decline In Dividend Payers, Candra Chahyadi, Jesus Salas

Faculty Research & Creative Activity

Current payout policy literature contends that firms’ propensity to pay dividends declined between 1978 and 1998. Using the Oaxaca decomposition methodology, we measure changes in the propensity to pay dividends between 1978 and 1998. Results suggest that firms today have only a slightly lower propensity to pay dividends. Furthermore, when we also categorize firms that use stock repurchases as dividend payers, we find that 100% of the decline in the proportion of dividend payers can be explained by changes in firm characteristics only. The difference is that firms that firms are now repurchasing stock instead of paying dividends.

Not Paying Dividends? A Decomposition Of The Decline In Dividend Payers, Candra S. Chahyadi, Jesus M. Salas

Faculty Research & Creative Activity

Current payout policy literature contends that firms’ propensity to pay dividends declined between 1978 and 1998. Using the Oaxaca decomposition methodology, we measure changes in the propensity to pay dividends between 1978 and 1998. Results suggest that firms today have only a slightly lower propensity to pay dividends. Furthermore, when we also categorize firms that use stock repurchases as dividend payers, we find that 100% of the decline in the proportion of dividend payers can be explained by changes in firm characteristics only. The difference is that firms that firms are now repurchasing stock instead of paying dividends.

Employee Development Approach For Generation Yers: A Conceptual Framework, William Flowers, Roger Hogan

Faculty Research & Creative Activity

Generation Y is beginning to make their presence felt in today’s workforce. Unfortunately, most organizations are unprepared to handle this technology-savvy new type of worker that demands instant gratification and a high feeling of importance. In this article, we provide a conceptual framework based upon employee development. The conceptual framework developed in this article can be utilized to better understand and foster productive working relationships with Generation Y employees.

Annual Report 2010, Eastern Illinois University

Lumpkin College Annual Reports

This 2010 Annual Report records the achievements, outreach activities, and student honors work of the Eastern Illinois University's Lumpkin College of Business and Applied Sciences. It also includes reports from the School of Business, the School of Family and Consumer Science, the School of Technology, and the department of Military Science.

A Creative Approach To Comprehensive Planning, Michael A. Mulvaney, Hollice Clark Iii, Kelly Lamore

Faculty Research and Creative Activity

Today, the provision of recreation services and facilities is recognized as an essential component of a community’s master plan. Residents want opportunities for participation in quality recreation programs, attractive parks, and effective and safe recreation facilities. Only through local government provisions can recreation truly be made available to all residents. Local government provides the major opportunity for many people, and the only opportunity for some of the people, for access to recreational facilities such as parks, recreation centers, tennis courts, softball and baseball diamonds, swimming pools, and other specialized facilities.

In remaining accountable for expenditures and to meet these community …