Corporate Payout Policy in Turkey: Does Market Power Affect the Dividend Payout?

dc.contributor.author Vural-Yavaş, Çiğdem
dc.contributor.author Vural Yavaş, Çiğdem
dc.contributor.other International Trade and Finance
dc.date.accessioned 2020-06-04T08:53:55Z
dc.date.available 2020-06-04T08:53:55Z
dc.date.issued 2020
dc.description.abstract The primary purpose of this paper is to explore the relationship between corporate dividend-payout policy and the competition in the product market for the listed companies in Turkey using a panel data of non-financial firms over the period 2007 to 2015. Turkey is an emerging market classified as a French-civil-law country with weak protection of investors. Using Turkish firms, we analyze the effect of competition on dividend-payout policy, under weak investor protection. Our results indicate that competition measured by the Herfindahl-Hirschman Index and 5-firm concentration ratio significantly affects dividend payout. Our findings show that competition in the industry negatively influences the dividend payout. The results demonstrate that in highly competitive industries, Turkish firms pay lower dividends than the firms in concentrated industries to remain competitive in the market. Moreover, large profitable firms with lower investment opportunities and lower tangible assets distribute higher dividends to their shareholders in Turkey. en_US
dc.identifier.citationcount 0
dc.identifier.doi 10.21121/eab.729517 en_US
dc.identifier.endpage 135 en_US
dc.identifier.issn 1303-099X en_US
dc.identifier.issn 1303-099X
dc.identifier.issue 2 en_US
dc.identifier.startpage 125 en_US
dc.identifier.trdizinid 388364 en_US
dc.identifier.uri https://hdl.handle.net/20.500.12469/2870
dc.identifier.uri https://doi.org/10.21121/eab.729517
dc.identifier.uri https://search.trdizin.gov.tr/yayin/detay/388364
dc.identifier.volume 20 en_US
dc.identifier.wos WOS:000531005600004 en_US
dc.institutionauthor Vural-Yavaş, Çiğdem en_US
dc.language.iso en en_US
dc.publisher EGE UNIV en_US
dc.relation.journal EGE ACADEMIC REVIEW en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/openAccess en_US
dc.subject Dividend yield en_US
dc.subject Payout policy en_US
dc.subject Dividend payout en_US
dc.subject Product market competition en_US
dc.subject Market power en_US
dc.subject Emerging market en_US
dc.subject Turkey en_US
dc.title Corporate Payout Policy in Turkey: Does Market Power Affect the Dividend Payout? en_US
dc.type Article en_US
dc.wos.citedbyCount 0
dspace.entity.type Publication
relation.isAuthorOfPublication a98d5070-be93-4d23-9841-bb36b264b0ba
relation.isAuthorOfPublication.latestForDiscovery a98d5070-be93-4d23-9841-bb36b264b0ba
relation.isOrgUnitOfPublication 16202dfd-a149-4884-98fb-ada5f8c12918
relation.isOrgUnitOfPublication.latestForDiscovery 16202dfd-a149-4884-98fb-ada5f8c12918

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