Di Fiore, Vincenzo (A.A. 2024/2025) Dividend policy in corporate finance: from theory to valuation. Tesi di Laurea in Advanced corporate finance, Luiss Guido Carli, relatore Pierluigi Murro, pp. 62. [Master's Degree Thesis]

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Abstract/Index

Dividend policy, a theoretical perspective. Modigliani-Miller, irrelevance theory. Bird-in-the-hand (dividend preference) theory. Tax-preference theory (tax-effect). Signaling theory. Agency-cost theory. Clientele effect. Pecking order theory. Behavioral finance perspectives (catering theory). Comparative table. Dividend policy in corporate finance strategy. Life cycle theory of dividends. Share buybacks as an alternative or complement to dividends. Geographical differences in dividend policy and payout strategies. Dividends policy and valuation. Role of dividends in DCF valuation. The dividend discount model (DDM). Dividend payout decisions and terminal value in DCF models. Payout policy’s impact on market valuation multiples. Dividend policy in leveraged buyouts (LBOs): dividend recapitalizations. Empirical analysis. Dataset description and scope. Regression output and statistical interpretation. Dividend policy and its firm value implications.

References

Bibliografia: pp. 60-61.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77)
Chair:	Advanced corporate finance
Thesis Supervisor:	Murro, Pierluigi
Thesis Co-Supervisor:	Core, Fabrizio
Academic Year:	2024/2025
Session:	Extraordinary
Deposited by:	Alessandro Perfetti
Date Deposited:	14 Jul 2026 06:47
Last Modified:	14 Jul 2026 06:47
URI:	https://tesi.luiss.it/id/eprint/46356

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