Recommendations of the Polish Financial Supervision Authority and the Propensity to Pay Dividends by Banks

Mieczysław Kowerski

Abstract


In the paper there were presented the results of the estimation on the basis of a balanced panel of 9 banks listed on the Warsaw Stock Exchange in the years 1999–2014 probit panel models with random effects which showed that issued from 2009 by Polish Financial Supervision Authority recommendations have a significant impact on reducing the banks’ propensity to pay dividends.


Keywords


Polish Financial Supervision Authority recommendations; propensity to pay dividends; capital adequacy ratio; probit panel model with random effects

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References


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DOI: http://dx.doi.org/10.17951/h.2016.50.4.245
Date of publication: 2017-02-20 17:31:15
Date of submission: 2016-05-06 13:01:32


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