Dividend policy: A systematic literature review

Abstract

The aim of this work is to study general trends in the subject of dividend policy, in order to pinpoint fertile paths for future research in this field. To carry out a systematic review, the authors use a methodology in three stages to collect resources and thus evaluate the research work conducted in the dividend policy area. First, the necessary data are extracted from Scopus database using relevant keywords.  The results of the initial research are then narrowed down to include only English-language journal publications, which are stored in the file. Finally, the database is used as the primary data for the data analysis, which uses bibliometric and network analysis tools to recognize trends in dividend policy to help researchers identify emerging areas for future work. This study reveals that research in the field of dividend policy has been growing rapidly since 2005; affiliation statistics show that the majority of publications are produced in the USA and the UK; and many questions related to dividend decisions remain unanswered, particularly with regard to emerging markets. There is a need to organize the literature and understand the different areas that have been explored by numerous researchers. To this end, this study attempts to recognize important research studies, identify current areas of research interest, provide an understanding of the importance of research.

Keywords: Dividend Policy, Systematic Review, Networking Analysis, Scopus.

Classification JEL: G3, G35.

Paper type: Theoretical Research.