Catering theory of dividends influences shareholder behavior on Warsaw Stock Exchange
The article explores how the catering theory of dividends influences the behavior of shareholders and managers on the Warsaw Stock Exchange. By analyzing data from electromechanical industry companies listed on the WSE between 1999-2013, the study found that companies with higher stock prices are more likely to pay dividends. This suggests that the catering theory of dividends can help explain the dividend policies of these companies.