DIVIDEND POLICY OF THE ELECTRIC SECTOR OF BRAZIL AND THE UNITED STATES: A NON-LINEAR ANALYSIS THROUGH LOGISTIC REGRESSION

Alexandre Rodrigues da Silva

Resumo


The objective of this study is to compare, through logistic regression analysis, the formation of stock prices and the payment of dividends between companies in the Brazilian and USA electric sector. Methodology: data on dividend payments and daily values ​​of shares of companies in the electric sector in Brazil and the States. The period covered was from January 1, 2000 to December 31, 2022. Results: a yield above 6% in Brazilian companies in the electric sector does not affect the price of the asset. The opposite is true when there is no payment of dividends. The occurrence of non-payment of dividends was related to a negative variation in prices. As for USA companies, both a zero yield and a yield above 6% had a negative relationship with the variation in stock prices. In relation to Brazilian companies, the yield of USA companies was lower.


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