Financial Constraints and the Sustainability of Dividend Payout Policy

Ippoliti R, Falavigna G (2021)
Sustainability 13(11): 6334.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Ippoliti, RobertoUniBi; Falavigna, Greta
Abstract / Bemerkung
This article investigates the relation between dividend payout policy and financial constraints, focusing on the Italian SMEs between 2015 and 2019 and adopting credit ratings as a measure of access to external financial resources. According to our findings, there is a positive relation between firm solvency and the payment of dividends, suggesting that, when companies’ financial constraints are higher, we can expect lower odds that they will pay out dividends. Nevertheless, there is also evidence that younger SMEs are interested in signaling their expected profitability to attract future investors and support access to the capital market.
Stichworte
financial constraints; credit ratings; payout policy; manufacturing industry; SME
Erscheinungsjahr
2021
Zeitschriftentitel
Sustainability
Band
13
Ausgabe
11
Art.-Nr.
6334
eISSN
2071-1050
Finanzierungs-Informationen
Open-Access-Publikationskosten wurden durch die Universität Bielefeld gefördert.
Page URI
https://pub.uni-bielefeld.de/record/2955342

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Ippoliti R, Falavigna G. Financial Constraints and the Sustainability of Dividend Payout Policy. Sustainability. 2021;13(11): 6334.
Ippoliti, R., & Falavigna, G. (2021). Financial Constraints and the Sustainability of Dividend Payout Policy. Sustainability, 13(11), 6334. https://doi.org/10.3390/su13116334
Ippoliti, R., and Falavigna, G. (2021). Financial Constraints and the Sustainability of Dividend Payout Policy. Sustainability 13:6334.
Ippoliti, R., & Falavigna, G., 2021. Financial Constraints and the Sustainability of Dividend Payout Policy. Sustainability, 13(11): 6334.
R. Ippoliti and G. Falavigna, “Financial Constraints and the Sustainability of Dividend Payout Policy”, Sustainability, vol. 13, 2021, : 6334.
Ippoliti, R., Falavigna, G.: Financial Constraints and the Sustainability of Dividend Payout Policy. Sustainability. 13, : 6334 (2021).
Ippoliti, Roberto, and Falavigna, Greta. “Financial Constraints and the Sustainability of Dividend Payout Policy”. Sustainability 13.11 (2021): 6334.
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2021-06-07T04:43:52Z
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