Dividend Policy And Investment Attractiveness Of Joint-Stock Companies: The Case Of Emerging Markets With Evidence And Implications For Uzbekistan

Abstract

This article examines the impact of dividend policy on the investment attractiveness of joint-stock companies, with a focus on mechanisms that enhance investor interest in emerging capital markets. Using theoretical insights and empirical findings from recent studies, the paper analyses how consistent dividend payments, payout ratios, and transparent dividend strategies influence firm valuation and investor confidence. Understanding the role of dividend policy is essential for corporate management and policymakers aiming to increase the participation of both institutional and individual investors. The study highlights practical implications for Uzbek joint-stock companies in strengthening their market appeal.