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Features of formation of the dividend policy the enterprises of the state sector of economy of Ukraine ànd evaluation of its effectiveness


The article examines of formation of the dividend policy of the enterprises of the state sector, which holds a special place in the financial policy of the state: the state is the owner of the corporate rights of the state and the regulator of economic relations. Analyzed legal base of Ukraine, provisions of which determine the mode of dividend payment by the enterprises of the state sector of economy. A detailed description of the basic parameters of the dividend policy of companies in the state sector of economy. The main focus during the formation mechanism of the dividend policy of companies in the state sector of the economy given the fiscal motives of the state. It is proved that a sufficiently «hard» norms of deductions of net profit for dividends make it impossible to attract financial resources by enterprises of the of the state sector of economy, which leads to physical and moral obsolescence of their material and technical base, resulting in reduced competitiveness of enterprises of the state sector of economy in comparison with private companies, compromised quality performance of the state’s social functions and economic security of the country. Researched planned and actual receipts of dividends to the State budget of Ukraine. Evaluate the role of dividends in the formation of revenues of the State budget of Ukraine, as well as the ratio of dividends to the value of the corporate rights of the state on the nominal value of the shares. The main factors hindering the formation of an effective dividend policy and the directions of improvement of the mechanism of the dividend policy of companies in the state sector of economy. The technique of determining the optimal ratio of allocations of net profit for dividends for the enterprises of the state sector of economy on the basis of correlation between the amount of dividends and financial and business condition of the company.



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Keywords:  dividend, dividend policy, enterprises of the state sector of economy, joint stock company, investments, corporate law, state, corporate governance.

CORPORATE FINANCE

Ostapchuk Yaroslav
PhD

Maister Anna
postgraduate Department of Financial markets SHEI «Kyiv National Economic University named after Vadym Hetman»

 

 

 

 

 

 

 

 

 

 

 

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