Legal Aspects of Dividend Payment in a Limited Liability Company
Palabras clave:
actores determinantes, dividendos, procedimiento de pago de dividendo, procedimiento de pago de dividendos, política de dividendos, sociedad de responsabilidad limitada
Resumen
El objetivo del estudio fue identificar formas, objetivos principales y medidas regulatorias que pueden mejorar el desarrollo de la regulación legal del pago de dividendos en una sociedad de responsabilidad limitada. El estudio involucró tres métodos: observación directa, comparación y análisis del contenido de los documentos que proporcionan la regulación legal del pago de dividendos en a nivel estatal e interestatal. Todo indica que, el éxito de la actividad empresarial depende directamente de la regularidad de los beneficios y la cantidad de capital de la empresa, mientras que es inversamente dependiente de la regularidad y el tamaño de los dividendos. Se concluye que, el tipo y la forma de la política de dividendos se rige en parte por el estado de derecho y en parte está determinada por factores comerciales no legales. Una política de dividendos óptima significa que debe haber un equilibrio adecuado entre el pago de dividendos actuales y el crecimiento futuro de las ganancias de la empresa. En este caso, el procedimiento establecido por ley y la secuencia de acciones que preceden al pago de dividendos indica la libertad empresarial parcial de los participantes en este asunto.
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BORAD, Sanjay Bulaki. 2014. Factors Affecting Dividend Policy. Available online. In: https://efinancemanagement.com/dividend-decisions/ factors-affecting-dividend-policy. Consultation date: 20/02/2021.
BREAKING DOWN FINANCE. n. d. Tax Preference Theory Dividend Policy. Available online. In: https://breakingdownfinance.com/finance-topics/ finance-basics/tax-preference-theory-dividend-policy/. Consultation date: 20/02/2021.
BUSINESS JET. 2019. What Does LLC Mean? Available online. In: https:// businessjjet.com/article/chto-znachit-llc/. Consultation date: 20/02/2021.
CAPTAIN CONTRAT. 2017. What is a dividend? Available online. In: https:// www.captaincontrat.com/articles-gestion-entreprise/definition- dividende. Consultation date: 20/02/2021.
CHERNENKO, O. A. 2019. “Payment of dividends in Ukraine: factors of influence” In: Collection of Scientific Papers “Private Law and Business”. Vol. 19, No. 37, pp. 168-171.
DEREVINSKA, N. V; ISCHENKO, N. A. 2016. “Dividend policy of the enterprise and evaluation of its efficiency” In: Scientific Notes. Vol. 20, pp. 48-52.
DHAVAL, S. n. d. Dividend Policy in Practice (With Calculations). Available online. In: https://www.businessmanagementideas.com/ financial-management/dividends/dividend-policy-in-practice-with- calculations/4086. Consultation date: 20/03/2021.
DOCSITY. n. d. Competiting Theory of Dividend Theory. Available online. In: https://www.docsity.com/en/competiting-theory-of-dividend- theory/5151913/. Consultation date: 20/02/2021.
HUMANITARIAN PORTAL. 2021. Rating of World Countries Based on the Index of Doing Business. Available online. In: https://gtmarket.ru/ ratings/doing-business. Consultation date: 20/03/2021.
JANQUERT, Elodie. 2020. The payment of dividends. Available online. In: https://www.leblogdudirigeant.com/le-versement-de-dividendes/. Consultation date: 20/02/2021.
KERTÉSZ, Gábor. 2016. Rules of dividend payment at limited liability companies in Hungary. Available online. In: https://accace.com/rules- dividend-payment-limited-liability-companies-hungary/. Consultation date: 20/03/2021.
KOROTASH, Y. O. 2016. “Payments of dividends to participants of limited liability company in case of nonpayment by them their contributions to charter capital” In: Law and Innovations. Vol. 3, No. 15, pp. 68-72.
MRSC. 2021. Fund Balance and Reserve Policies. Available online. In: https:// mrsc.org/Home/Explore-Topics/Finance/Finance-Policies/Fund- Balance-and-Reserve-Policies.aspx. Consultation date: 20/02/2021.
MUREKEFU, Timothy Mahalang’ang’a; OUMA, Ochuodho Peter. 2012. “The relationship between dividend payout and firm performance: a study of listed companies in Kenya” In: European Scientific Journal (May Edition). Vol. 8, No. 9, pp. 199-215.
MURRAY, Jean. 2021. The tax advantages and disadvantages of an LLC. Available online. In: https://www.thebalancesmb.com/what-are- the-tax-advantages-and-disadvantages-of-an-llc-397768#citation-2. Consultation date: 20/03/2021.
PALMER, Rory. 2021. How large investment trust revenue reserves eased 2020’s dividend worries. Available online. In: https://www.trustnet. com/news/13254205/how-large-investment-trust-revenue-reserves- eased-2020s-dividend-worries. Consultation date: 20/03/2021.
PAYET, Laura. n. d. Distributions to LLC Members vs. Dividends. Available online. In: https://info.legalzoom.com/article/distributions-llc- members-vs-dividends. Consultation date: 20/06/2021.
PINTO, Geetanjali; RASTOGI, Shailesh. 2019. “Sectoral analysis of factors influencing dividend policy: case of an emerging financial market” In: Journal of Risk and Financial Management. Vol. 12, No. 3, Art. 110.
POMULІEVA V. M; REMENYUK D. D. 2017. “Improvement of accounting and taxation of dividends” In: Sustainable Development of Economy. Vol. 1, No 34, pp. 99-107.
ROHOV, Heorhiy; KOLODIZIEV, Oleh; SHULGA, Nataliya; KRUPKA, Mykhailo; RIABOVOLYK, Tetiana. 2020. “Factors affecting the dividend policy of non-financial joint-stock companies in Ukraine” In: Investment Management and Financial Innovations. Vol. 17, No. 3, pp. 40-53.
RUSSELL BEDFORD POLAND. 2018. Tax consequences of delays in paying dividends. Available online. In: http://www.russellbedford.pl/o-nas/ rb-biuletyn/item/1066-skutki-podatkowe-opoznien-przy-wyplacie- dywidendy.html. Consultation date: 20/02/2021.
SCHNEIDMAN, Len. 2017. U.S. Tax Planning For Foreign-Owned U.S. Operations. Andersen Tax LLC. Washington, D. C.
SIMČINA, Michal. n. d. Distribution of company profit. Available online. In: https://www.prf.cuni.cz/sites/default/files/old_files/1404046107.pdf. Consultation date: 20/02/2021.
SIMPLE I LEARN. 2016. Impact of Dividend Policy on Organizational Capital structure. Available online. In: https://www.simplilearn.com/dividend- policy-rar11-article. Consultation date: 20/02/2021.
SONDAKH, Renly. 2019. “The effect of dividend policy, liquidity, profitability and firm size on firm value in financial service sector industries listed in Indonesia stock exchange 2015-2018 period” In: Accountability. Vol. 8, No. 2, pp. 91-101.
SPILNYK, Iryna V; ZAHORODNA, Olha M. 2014. “Analytical background of the dividend policy formation” In: Scientific Work Collection of the Ternopil National Economic University. Vol. 15, No. 2, pp. 79-92.
SUPREME COURT OF UKRAINE. 2020. The Resolution of the Supreme Court of Ukraine from 12.11.2020, case № 916/1105/16. Available online. In: https://zakononline.com.ua/court-decisions/ show/92971721?1608857670. Date of consultation: 20/02/2021.
SUPREME ECONOMIC COURT OF UKRAINE. 2016. Resolution of the Plenum of the Supreme Economic Court of Ukraine of 25.02.2016 №4 on Certain Issues of Resolving Disputes Arising from Corporate Relations. Available online. In: https://zakon.rada.gov.ua/laws/show/v0004600-16/print. Consultation date: 20/02/2021.
THAKUR, Madhuri. n. d. Dividend Policy Types. Available online. In: https:// www.wallstreetmojo.com/dividend-policy-types/. Consultation date: 20/02/2021.
UKRSTAT. 2020. Number of legal entities by organizational and legal forms of management for 01.02.2020. Available online. In: http://uz.ukrstat. gov.ua/edrpou/2020/edrpou_org_0104_2020.pdf. Consultation date: 20/02/2021.
USAI, Andrea. 2019. The freedom to conduct a business in the
EU, its limitations and its role in the European legal order: A new engine for deeper and stronger economic, social, and political integration. Available online. In: https://www.cambridge.org/core/journals/ german-law-journal/article/freedom-to-conduct-a-business-in-the-eu- its-limitations-and-its-role-in-the-european-legal-order-a-new-engine- for-deeper-and-stronger-economic-social-and-political-integration/ CBB67ACD4D5D633A5D5D19B460538921. Consultation date: 20/02/2021.
VERKHOVNA RADA OF UKRAINE. 2018a. The Law of Ukraine ‘On Business Associations’. Available online. In: https://zakon.rada.gov.ua/laws/ show/1576-12#Text. Consultation date: 20/02/2021.
VERKHOVNA RADA OF UKRAINE. 2018b. The Law of Ukraine “On Limited and Full Liability Companies’. Available online. In: https://zakon.rada. gov.ua/laws/show/2275-19#Text. Consultation date: 20/02/2021.
VERKHOVNA RADA OF UKRAINE. 2019. The Code of Ukraine of Bankruptcy Procedures. Available online. In: https://zakon.rada.gov.ua/laws/ show/2597-19#Text. Consultation date: 20/03/2021.
YASIN, Ahmad Bukhari Mohd; AIN MUHAMMAD, Nur; NAFI, Mohd Noor Azam; RAHMAN, Amri Ab; KAIRAN, Omar; NOOR, Mohd Rahimie Md. 2017. Factors affecting dividend payments in the consumer products sector of Malaysia. Available online. In: https://www.academia. edu/35396274/. Consultation date: 20/03/2021.
Publicado
2021-10-01
Cómo citar
Yavorska, O. S., Pylypenko, P. D., Synchuk, S. M., Shpuhanych, I. I., & Samagalska, Y. Y. (2021). Legal Aspects of Dividend Payment in a Limited Liability Company. Cuestiones Políticas, 39(70), 119-138. https://doi.org/10.46398/cuestpol.3970.07
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