Lintner’s partial adjustments of dividends model for Warsaw Stock Exchange

Mieczysław Kowerski

Abstract


In the paper the results of estimation of Lintner’s partial adjustments of dividends model for companies noted on Warsaw Stock Exchange in the years 1992–2012 were presented. The estimated target payout ratio is 80,38%, but the speed of adjustment is comparatively low (0,6519), so it would take significant period of time do reach so high payout ratio.

Keywords


Lintner’s partial adjustments model; Warsaw Stock Exchange; two step least squares method

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References


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DOI: http://dx.doi.org/10.17951/h.2013.47.3.337
Date of publication: 2015-07-23 22:18:19
Date of submission: 2015-07-22 01:00:28


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