%0 Journal Article 
%T Latinamerican Dividends: do they fit in any theory?
%D 2007
%U http://hdl.handle.net/10906/65243
%X We test different predictions of the pecking order and trade-of theories for the dividends of a sample of Latin-American firms in seven countries covering the years 1999 to 2005. Most of the theoretical predictions are confirmed by the data; our tests also report a high speed of adjustment in the dividend levels of the firms in the sample. A simple model testing the effect of the payout level on the dividend yield, find some support for the tax advantage of capital gains over dividends
%K Dividends
%K Pecking order theory
%K Trade-Off theory
%K Dividend Payout
%K Dividendos
%K Empresas
%K América Latina
%~ GOEDOC, SUB GOETTINGEN