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High-tech firms : Dividend policy in a context of sustainability and technological change

2023Journal article Open access
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dc.contributor.authorBarros, Victor
dc.contributor.authorVerga, Matos, Pedro
dc.contributor.authorSarmento, Joaquim Miranda
dc.contributor.authorVieira, Pedro Rino
dc.date.accessioned2025-01-29T11:28:48Z
dc.date.available2025-01-29T11:28:48Z
dc.date.issued2023
dc.description.abstractWe examine whether the dividend policy of high-tech firms is explained by ESG performance in the triple ESG components (environmental, social, and governance). Using a panel of US-based firms in the technology sector from 2002 to 2021, we find that better ESG scores are linked with a higher likelihood of dividend payments, stability of the amount paid, and implied shareholder returns from the dividend yield. R&D intensity is a constraint of dividend policies, although ESG scores mitigate this adverse effect by helping increase the likelihood of dividend payments. Overall, our findings highlight the role of ESG scores in enabling high-tech firms to implement dividend policies that yield stable returns to investors.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationBarros, Victor … [et al.] .(2023). “High-tech firms : Dividend policy in a context of sustainability and technological change”, Journal of Technological Forecasting & Social Change, Volume 190: 122434.pt_PT
dc.identifier.doidoi.org/10.1016/j.techfore.2023.122434pt_PT
dc.identifier.issn0040-1625
dc.identifier.urihttp://hdl.handle.net/10400.5/97904
dc.language.isoengpt_PT
dc.publisherElsevierpt_PT
dc.subjectDividend Policypt_PT
dc.subjectSustainabilitypt_PT
dc.subjectESGpt_PT
dc.subjectTechnological Sectorpt_PT
dc.titleHigh-tech firms : Dividend policy in a context of sustainability and technological changept_PT
dc.typejournal article
dspace.entity.typePublication
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT

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