Relationship between ecopetrol's share price and the value of the dividend from 2008 to 2017.

Abstract

This article analyzes the correlation between the variables dividends and Ecopetrol's share price, and thus give a perspective to the company's shareholders to generate growth opportunities and encourage greater participation of domestic and international investors.
A correlational and linear study of Ecopetrol's share price and the value of dividends between the period 2008 to 2017 was carried out. For this purpose, the financial econometric technique of simple linear regression was used using the SPSS v.20 program in order to establish and describe the linear relationship between two continuous and independent quantitative variables. It was observed that the p-value of the test is equal to 0.005, thus Ho is rejected, i.e. there is a significant correlation between Ecopetrol's share price and the value of the dividend during the period 2008 to 2017. It was established that there was a significant correlation between Ecopetrol's share price and the value of the dividend during the period 2008 to 2017. The linear equations obtained were as follows: for the closing price of Ecopetrol, Y= 153.98X + 312808, Y= -11.042X + 22380.679 for the value of the dividend.