期刊名称：The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration
印刷版ISSN：2066-575X
出版年度：2009
卷号：9
期号：Special
页码：170-177
出版社："Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration
摘要：If we refer to the dividend – as element of capital contribution of the shareholders, we have to compulsory take into consideration the problem of capital’s cost involvements. Thanks to the fact that own funds do not have a fix income, because the dividends that will be distributed depend upon the measure of net achieved profit and of the dividend politics of the enterprise; determination of own funds cost represent a complex task, that behaves different methods of computing. For this present paper, we succinctly presented some models of evaluation for the dividends and involvements generated by these within the process of economical development. The topic approached presents interest by the fact that dividend, as notion, is highly related to the economic category - the profit. Without profit, we cannot approach the problem of dividend and for this reason, we approached this theme. Meantime, series of theories appeared and developed as concerns the dividend, which established the basis of certain politics related, politics that are approached considering the point of view of different evaluation models of the own capital cost, approached in this paper: the model of dividends discounted that includes many particular situations, (the model of zero increasing, the model of over-normal or inconsistent increasing, the model of profits capitalization, the model of Bates) and CAPM model (Capital Asset Pricing Model). As conclusion, after short analysis of these models, one may say the these emphasize the complexity of determining the capital cost by means of dividend, this being considered both cost and financing source.
