Multinational Dividend Policies: A Systematic Literature Review to Future

Abstract

Purpose: To identify knowledge gaps about multinational companies´ dividend distribution policy. Design/Approach/Methodology: A bibliometric analysis and systematic review on the theme is carried out, considering the period between January 1972 and August 2020. The database used is the Web of Science. Findings: Among the knowledge gaps, an opportunity stands out for comparative analysis of the dividend distribution policy between multinational and domestic companies -or subsidiaries -especially in emerging markets. Other gaps identified are the impact of share buybacks, profit repatriation, mergers and acquisitions, foreign exchange, taxes, credit supply, and other characteristics of each country about these companies' payout ratio. Practical Implication: This study contributes to the bibliometric analysis of the most recent studies about dividend distribution policy between multinational and domestic companies. Also, it points out knowledge gaps on the topic, presenting suggestions for evolution to other researchers. Originality/Value: Absence of studies that combine quantitative method -bibliometric analysis -and qualitative methodliterature systematic review. Additionally, for the bibliometric analysis, the laws of Zifp, Bradford, and Lotka are applied.