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Please use this identifier to cite or link to this item: http://hdl.handle.net/123456789/3436

Title: “DIVIDEND POLICY AND SHARE PRICES” (The case of Private Banks in Ethiopia)
Authors: Berhane, Teame
Advisors: Venakati Polanna (PhD)
Keywords: Business A DMINISTRATION
Copyright: Jun-2011
Date Added: 20-Jul-2012
Publisher: AAU
Abstract: Effort was made to see any association between dividends and share prices by observing six private banks in Ethiopia. Data was taken for six years (2005 – 2010 G.C.) and descriptive statistics employed with the objective of examining the presumed association between dividends and share prices. The dividend discount model was used to calculate ideal share prices at the banks. The results show there is a strong association between the crude measures of dividends and share prices. Earnings per Share are also strongly correlated with share prices. The Pearson’s moment correlation coefficients are statistically significant at 95% confidence level. However, evidence did not support the association between the real measures of dividends and share prices. Also, the actual share prices are a bit higher than model determined share prices for all the six banks. With much decision regarding the dividends and share premiums left to the general meetings of shareholders’, it is not clear whether dividends or EPS or other variables determines the share prices of Ethiopian private banks
Description: A thesis submitted to School of Business and Public Administration of Addis Ababa University in partial fulfillment of the requirement for a Master of Business Administration
URI: http://hdl.handle.net/123456789/3436
Appears in:Thesis - Business Adminstration

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