Service interruption on Monday 11 July from 12:30 to 13:00: all the sites of the CCSD (HAL, EpiSciences, SciencesConf, AureHAL) will be inaccessible (network hardware connection).
Skip to Main content Skip to Navigation
Journal articles

Does the catering theory of dividend apply to the French listed firms?

Abstract : This paper tests the catering theory of dividend in the French market. It investigates how prevailing investor's demand for dividend payers proxied by the dividend premia affects the dividend policy. The dividend premia are measured at the market level and at the firm level. We find that the market demand for dividends measured by dividend premia affects the decision to start, to continue or to omit to pay dividends and the decision to increase the dividends. However, catering theory does not seem to affect the magnitude of the dividend changes since most results are not significant.
Document type :
Journal articles
Complete list of metadata

Cited literature [39 references]  Display  Hide  Download
Contributor : Nicolas Aubert Connect in order to contact the contributor
Submitted on : Monday, December 31, 2018 - 4:28:24 PM
Last modification on : Sunday, May 1, 2022 - 3:16:11 AM
Long-term archiving on: : Monday, April 1, 2019 - 12:43:25 PM


Anouar Aubert 2016.pdf
Files produced by the author(s)




  • HAL Id : halshs-01401867, version 2


Kamal Anouar, Nicolas Aubert. Does the catering theory of dividend apply to the French listed firms?. Bankers Markets & Investors : an academic & professional review, Groupe Banque, 2016. ⟨halshs-01401867v2⟩



Record views


Files downloads