Suchergebnisse

The problem-field dividend payout policy is a very complex issue. Particular within the low-interest phase in Europe, the significance of this issue is growing for all investors, equal to whether private or institutional investors. The aim of this study is to research the European area to provide a contribution to a region, which, unfortunately, has given sparse attention in the past. In order to ensure the relevance for this exploration, the major European stock index Euro Stoxx 600 has been used. The results of the multiple linear regression show the unequal dividend distribution between stock companies from the industrial sector and the service sector. Besides, it has shown that institutional investors play as well a significant role within the dividend policy in European public companies. Furthermore, the net income of a corporation influenced in all previous analysis the dividend reimbursement, which could be confirmed through this paper as well. Regarding the previous studies, this paper provides an additional source for further studies which also occupy with this complicated question. ; OA

We analyse the bank lending activity after the financial crisis and focus on bank-specific supply factors. Using a rich microeconomic dataset from Bankscope and macroeconomic shocks data, we employ OLS and 2SLS fixed effects models with banking controls, macroeconomic shocks and institutional quality. The banks' loan-rate spreads increased despite the recent policy of low interest rates and quantitative easing. We use the bank asset quality as instruments to capture exogenous changes in loan supply. The empirical evidence shows that loan-rate spread and through this the supply of loans is negatively affected by a low asset quality and capital ratios.

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The aim of this article is to estimate the mutual interaction of monetary and fiscal policy in the Visegrad Group countries, i.e. in the Czech Republic, Slovakia, Poland, and Hungary. The relations between monetary and fiscal policy - its coordination, cooperation or mutual antagonism - are basic determinants of successful economic policy implementation of each country. Fiscal and monetary policies usually have different aims. Therefore, some conflict situations may arise in practical economic and political decision-making process. Methodical approaches of this article are based on the game theory, which deals with the analysis of a wide range of decision-making situations with more participants (players); it is primarily focused on the conflict situations. Our results confirm the stabilizing role of monetary policy in the Czech Republic, Poland, and Hungary, also the dominant role of monetary policy in the Czech Republic and the dominant role of fiscal policy in Hungary. In the case of Slovakia, inconsistent results concerning the monetary policy role are probably caused by its EMR II membership and Eurozone entry in 2009. ; Web of Science ; 62 ; 4 ; 479 ; 459