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Journal of Economic and Administrative Sciences
Emerald Article: Determinants of Dividend Policy: The Case of Kuwait Talla M. Al-Deehani

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To cite this document: Talla M. Al-Deehani, (2003),"Determinants of Dividend Policy: The Case of Kuwait", Journal of Economic and Administrative Sciences, Vol. 19 Iss: 2 pp. 59 - 76
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http://dx.doi.org/10.1108/10264116200300006
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Talla M. Al-Deehani, (2003),"Determinants of Dividend Policy: The Case of Kuwait", Journal of Economic and Administrative Sciences, Vol. 19 Iss: 2 pp. 59 - 76
http://dx.doi.org/10.1108/10264116200300006
Talla M. Al-Deehani, (2003),"Determinants of Dividend Policy: The Case of Kuwait", Journal of Economic and Administrative Sciences, Vol. 19 Iss: 2 pp. 59 - 76
http://dx.doi.org/10.1108/10264116200300006
Talla M. Al-Deehani, (2003),"Determinants of Dividend Policy: The Case of Kuwait", Journal of Economic and Administrative Sciences, Vol. 19 Iss: 2 pp. 59 - 76
http://dx.doi.org/10.1108/10264116200300006

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Journal of Economic & Administrative Sciences

Vol. 19, No. 2, December 2003 (59 -76)

Determinants of Dividend Policy: The Case of Kuwait
Dr. Talla M. Al-Deehani
Kuwait University
Introduction
Ever since the work of John Lintner (1956), followed by the work of Miller and Modigliani (1961), dividend policy remains a controversial issue. Some of the questions that remain unanswered include: Does dividend policy affect value? What are the factors that determine dividend policy? Is dividend policy determined dependently or independently?

A comprehensive survey project on dividend policy in Kuwait was conducted and two papers were produced. The first paper focused on the relationship of dividend policy to investment and financing policies, see AlDeehani and Al-Loughani (2002). This paper is a part of that project. It presents empirical effort to the area of dividend policy determinants in Kuwait as an emerging market. Based upon a result of a questionnaire survey, the paper will highlight (1) top management's perception of valuerelevant and value-irrelevant determinants of dividend policy, and (2) determine whether managers in different industries share similar views about these determinants.

The paper is organized in the following manner: first the determinants of dividend policy are discussed through a review of the relevant literature. This is followed by the research methods stating the issues of concern to this study. The remainder of the paper discusses the results through the analysis of managers' perceptions of determinants and a cross-sectional analysis. The paper ends with a summary and the conclusions drawn from the study. Determinants of...
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