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LUND UNIVERSITY LIBRARIES

Vägen till första utdelningen

Billberg, Theo LU ; Ritzén, Simon LU and Leksell, Daniel LU (2025) FEKH69 20251
Department of Business Administration
Abstract (Swedish)
Resultaten visar att beslutet att initiera utdelning bland svenska börsbolag inte kan förklaras enbart av traditionella finansiella nyckeltal som likviditet, lönsamhet och kassaflöde. Istället formas utdelningsbeslutet av en komplex samverkan mellan bolagets strategi, utvecklingsfas, ägarstruktur och ledningens framtidsbedömningar. Särskilt betydelsefullt är inslaget av koncentrerat insiderägande, vilket tenderar att minska incitamentet till utdelning. Sammantaget tyder resultaten på att utdelningspolicy är ett strategiskt val som måste förstås utifrån företagets unika förutsättningar, snarare än som ett automatiskt resultat av stark finansiell prestation.
Abstract
The results indicate that the decision to initiate dividend payments among Swedish listed companies cannot be explained solely by traditional financial key ratios such as liquidity, profitability, and cash flow. Instead, dividend decisions are shaped by a complex interaction between the company’s strategy, stage of development, ownership structure, and management’s expectations for the future. Particularly noteworthy is the role of concentrated insider ownership, which tends to reduce the incentive to pay dividends. Overall, the results suggest that dividend policy is a strategic choice that must be understood in light of the company’s unique circumstances, rather than as an automatic result of strong financial performance.
Please use this url to cite or link to this publication:
author
Billberg, Theo LU ; Ritzén, Simon LU and Leksell, Daniel LU
supervisor
organization
alternative title
En kvantitativ analys av utdeningsinitiering på Stockholmsbörsen
course
FEKH69 20251
year
type
M2 - Bachelor Degree
subject
keywords
Dividend initiation, insider ownership, ownership structure, financial key ratios, logistic regression analysis, Agency theory, Life cycle theory, Catering theory
language
Swedish
id
9204697
date added to LUP
2025-09-16 10:16:33
date last changed
2025-09-16 10:16:33
@misc{9204697,
  abstract     = {{The results indicate that the decision to initiate dividend payments among Swedish listed companies cannot be explained solely by traditional financial key ratios such as liquidity, profitability, and cash flow. Instead, dividend decisions are shaped by a complex interaction between the company’s strategy, stage of development, ownership structure, and management’s expectations for the future. Particularly noteworthy is the role of concentrated insider ownership, which tends to reduce the incentive to pay dividends. Overall, the results suggest that dividend policy is a strategic choice that must be understood in light of the company’s unique circumstances, rather than as an automatic result of strong financial performance.}},
  author       = {{Billberg, Theo and Ritzén, Simon and Leksell, Daniel}},
  language     = {{swe}},
  note         = {{Student Paper}},
  title        = {{Vägen till första utdelningen}},
  year         = {{2025}},
}