The aim of this study is to find out the determinants of target dividend payout ratio of BIST-listed firms operating in the non-metallic products (cement) manufacturing industry in the period of 2002-2012. Through this aim. the short and long-run effects of factors related to profitability. liquidity. https://www.spidertattooz.com/Jacques-Marie-Mage-Baudelaire-2-Montra/