| Abstract [eng] |
Dividend policy has been under review for many years, but scientists do not provide an unambiguous answer to how a stock price responds to changes in dividend policy, but it is generally agreed that dividend policy helps to control the volatility of stock prices. Companies should pursue a dividend policy that meets the needs of their chosen investors, while also ensuring the optimal financing of their business, which limits the payment of dividends. The analysis of the research carried out showed that the issue of share price and dividend policy was little studied in the European stock market, although the influence of dividend policy on the price of the share is very important for policy makers, investors, portfolio managers, researchers. It is also relevant whether the dividend policy has the same effect on stock price volatility when economic conditions change, so comparisons are missing when assessing the different conditions for running a business. In addition, there is a lack of comparison of the results of the different methods, which would reveal whether the same sample of companies obtains the same conclusion on the relationship between share price and dividend policy. |
