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Senior Researcher, Laboratory for the Analysis of Institutions and Financial Markets, Institute for Applied Economic Research (IPEI), RANEPA
Financial crises are associated with ‘black swans’, i.e. sudden market crashes. However, if a crisis is viewed as a peak-to-recovery period, the ‘swans’ become ‘turkeys’: routine and protracted events. They are almost unnoticeable but systemically chip away at investors’ wealth.
Russian companies became more generous with their dividends. Corporate reports for 2005–2023 show that major corporations provide the largest payments, while third-tier issuers pay dividends most frequently. However, a focus on dividends does not guarantee a return on investment.
