La política de dividendos en los bancos privados españolesmodelos de comportamiento
ISSN: 0210-0266
Year of publication: 1988
Volume: 16
Issue: 45
Pages: 69-92
Type: Article
More publications in: Cuadernos de economía: Spanish Journal of Economics and Finance
Abstract
Dividend Policy in Spanish Prívate Banks: Behavioral Models. The purpose of this paper is to verify different behavioral models in dividend policy. The research has been done with a sample of Spanish private banks which are divided in two periods: 1976-80 and 1981-85. We test the hypothesis of partíal adjustement and the hypothesis of adaptative expectations for both periods. We use an integration model which refunds the two assumptions. The empirical results show that in the first period of time we can accept that only one of the effects is instant, while during 1981-85 both efects are it.