Published Paper Details:

Dividend policy, a crucial corporate finance decision, determines the portion of company income distributed to shareholders. Despite extensive research since Lintner's work in 1956, whether dividends enhance or diminish firm value remains unresolved. Dividend strategy, rewarding shareholders while reducing internal capital, is intertwined with investment and financing decisions, impacting shareholder value maximization. Utilizing databases like Scopus and Web of Science, a systematic literature review on dividend policy examined 768 articles over 47 years. The analysis highlights a surge in publications since 2005, indicative of increasing research interest. Affiliation statistics show the US as the highest contributor, followed by the UK, with most top contributing organizations based in the US. This study underscores the ongoing academic curiosity and the importance of dividend policy in corporate finance, shedding light on areas for future research and emphasizing the role of databases like Web of Science in facilitating such investigations.