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dc.contributor.advisorRuiz-Vargas, Yolanda
dc.contributor.authorLizardo, Benjamin Arturo
dc.date.accessioned2020-12-14T12:05:54Z
dc.date.available2020-12-14T12:05:54Z
dc.date.issued2020-12-07
dc.identifier.urihttps://hdl.handle.net/20.500.11801/2710
dc.description.abstractThis research examines the impact of dividend policy on 35 of the banks listed on the NYSE. This study developed two empirical models: the first (Model1) was based on the theory of the relevance of dividends, and the second (Model2) on the irrelevance of dividends. Quarterly data were used for the period from Q2.2012 to Q1.2020. The models were estimated using the techniques of least squares, fixed effect, and random effect. In both cases, the model based on a fixed effect proved to be the best to explain the value of the company (MSP). A positive association was found between dividends per share (DPS) and company value (MSP), thus validating the theory of the relevance of dividends. In addition, the REPS and Revenues variables showed a significant and positive effect on MSP, while DER and ESR, a negative impact on MSP.en_US
dc.description.abstractEsta investigación examina el impacto de la política de dividendos en 35 de los bancos listados en el NYSE. Este estudio desarrolló dos modelos empíricos: el primero (Model1) se basó en la teoría de la relevancia de los dividendos, y el segundo (Model2) en la de la irrelevancia de los dividendos. Se utilizaron datos trimestrales para el periodo del Q2.2012 al Q1.2020. Los modelos fueron estimados utilizando las técnicas de los cuadrados mínimos, efecto fijo, y efecto aleatorio. En ambos casos el modelo basado en efecto fijo probó ser el mejor para explicar el valor de la empresa (MSP). Se encontró una asociación positiva entre los dividendos por acción (DPS) y el valor de la empresa (MSP), validando así la teoría de la relevancia de los dividendos. Además, las variables REPS y Revenues, mostraron un efecto significativo y positivo en MSP, mientras que DER y ESR, un impacto negativo en MSP.en_US
dc.language.isoenen_US
dc.subjectDividend policyen_US
dc.subjectDividend Relevance Theoryen_US
dc.subjectDividend Irrelevance Theoryen_US
dc.subjectFirm valueen_US
dc.subjectEarningsen_US
dc.subject.lcshDividends -- United Statesen_US
dc.subject.lcshBanks and banking -- United States.en_US
dc.subject.lcshStock -- Pricesen_US
dc.subject.lcshInvestment analysisen_US
dc.subject.lcshCorporation -- Valuationen_US
dc.titleThe impact of dividend policy on banks' value in the US stock marketen_US
dc.title.alternativeEl impacto de la política de dividendos en el valor de los bancos en el mercado de valores de los EUen_US
dc.typeThesisen_US
dc.rights.holder(c) 2020 Benjamin A. Lizardoen_US
dc.contributor.committeeSeijo-Vidal, Roberto L.
dc.contributor.committeeValentín-Marí, Jeffrey
dc.contributor.representativeMéndez-Piñero, Mayra I.
thesis.degree.levelM.B.A.en_US
thesis.degree.disciplineFinancesen_US
dc.contributor.collegeCollege of Business Administrationen_US
dc.contributor.departmentDepartment of Business Administrationen_US
dc.description.graduationSemesterFallen_US
dc.description.graduationYear2020en_US


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  • Theses & Dissertations
    Items included under this collection are theses, dissertations, and project reports submitted as a requirement for completing a graduate degree at UPR-Mayagüez.

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(c) 2020 Benjamin A. Lizardo
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