Academic Journal
Asset price-GDP cross feedback. The role of dividend policies in a dynamic setting
| العنوان: | Asset price-GDP cross feedback. The role of dividend policies in a dynamic setting |
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| المؤلفون: | Grassetti, F, Mammana, C, Michetti, E |
| المساهمون: | Grassetti, F, Mammana, C, Michetti, E |
| سنة النشر: | 2023 |
| المجموعة: | Università degli Studi di Urbino: CINECA IRIS |
| مصطلحات موضوعية: | Economic growth, Dividend payout ratio, Behavioural finance, Economic development, Nonlinear dynamic, OLG model |
| الوصف: | This paper investigates the interconnections between real economy and the financial market in a discrete dynamical framework. We focus on the effect of the dividend policy decided by managers and the expectations of investors about future payments. We found that an excessively high dividend payout ratio erodes the economy, while in the opposite case instability and fluctuations arise. By means of analytical results and numerical simulations we show that the positive return of government bonds leads to instability, while investors' expectations modify the path of the asset price.(c) 2022 Elsevier B.V. All rights reserved. |
| نوع الوثيقة: | article in journal/newspaper |
| اللغة: | English |
| Relation: | info:eu-repo/semantics/altIdentifier/wos/WOS:000869539700005; volume:116; firstpage:1; lastpage:13; numberofpages:13; journal:COMMUNICATIONS IN NONLINEAR SCIENCE & NUMERICAL SIMULATION; https://hdl.handle.net/11576/2733654; https://www.sciencedirect.com/science/article/pii/S1007570422003756 |
| DOI: | 10.1016/j.cnsns.2022.106888 |
| الاتاحة: | https://hdl.handle.net/11576/2733654 https://doi.org/10.1016/j.cnsns.2022.106888 https://www.sciencedirect.com/science/article/pii/S1007570422003756 |
| Rights: | info:eu-repo/semantics/openAccess |
| رقم الانضمام: | edsbas.92486DF2 |
| قاعدة البيانات: | BASE |
| DOI: | 10.1016/j.cnsns.2022.106888 |
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