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dc.contributorSallán Leyes, José María
dc.contributorRondi, Laura
dc.contributor.authorSettecase, Aurora
dc.contributor.otherUniversitat Politècnica de Catalunya. Departament d'Organització d'Empreses
dc.date.accessioned2022-04-07T11:35:09Z
dc.date.issued2022-02-02
dc.identifier.urihttp://hdl.handle.net/2117/365489
dc.description.abstractThe aim of this project is to analyse the role of dividend policy as a tool to mitigate conflicts between majority and minority shareholders or whether it is used by majority shareholders to behave opportunistically towards minority shareholders and favour their expropriation in the context o f Italian listed companies. The study was conducted through an empirical analysis, in which several regressions were studied, to also test the robustness of the model, using a data sample of Italian non listed companies in the years between 2000 and 2017. financial After a careful theoretical excursus in which the main theoretical foundations regarding the relationship between majority and minority shareholders and regarding the models inherent to the dividend policy were reported, private firms of a famil y nature were considered for each regression, considering an individual or a set of individuals holding more than 50% as a family, according to a narrower definition, while according to a broader definition those holding more than 30% of shares. Notably, a ll the regressions constructed led to the same result and, in addition, confirmed the nature of the relationships between the dependent variable, the percentage of dividends distributed relative to net income, and several independent variables selected for the study. The main findings of the study suggest that majority shareholders use dividend policy to reduce conflict with minority shareholders rather than using dividend policy to behave opportunistically towards minority shareholders. Furthermore, it was noted that the propensity of majority shareholders to distribute dividends has a negative relationship with return on equity and has a positive relationship with risk, company size, growth, corporate liquidity and market value
dc.language.isoeng
dc.publisherUniversitat Politècnica de Catalunya
dc.subjectÀrees temàtiques de la UPC::Economia i organització d'empreses
dc.subject.lcshDividends
dc.subject.lcshCorporate profits
dc.subject.lcshStockholders
dc.subject.lcshConflict management
dc.titleAnalysis of dividends policy as a tool for shareholders conflict management
dc.typeMaster thesis
dc.subject.lemacDividends
dc.subject.lemacEmpreses -- Beneficis
dc.subject.lemacAccionistes
dc.subject.lemacGestió de conflictes
dc.identifier.slugPRISMA-163712
dc.rights.accessRestricted access - author's decision
dc.date.lift10000-01-01
dc.date.updated2022-03-09T19:31:53Z
dc.audience.educationlevelMàster
dc.audience.mediatorEscola Superior d'Enginyeries Industrial, Aeroespacial i Audiovisual de Terrassa
dc.audience.degreeMÀSTER UNIVERSITARI EN GESTIÓ D'EMPRESES DE TECNOLOGIA I D'ENGINYERIA (Pla 2016)


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