CEO Inside Debt Holdings and Risk-shifting: Evidence from Bank Payout Policies [PDF]
Bank payouts divert cash to shareholders, while leaving behind riskier and less liquid assets to repay debt holders in the future. Bank payouts, therefore, constitute a type of risk-shifting that benefits equity holders at the expense of debt holders. In
Srivastav, Abhishek +5 more
core +1 more source
Peer Influence on Payout Policies
Abstract Using a large sample of US public companies, we find robust evidence that firms' payout policies, i.e., dividends and share repurchases, are significantly influenced by the policies of their industry peers. To overcome endogeneity problems, we employ instrumental variable techniques based on peers' stock price shocks.
Binay K. Adhikari, Anup Agrawal
openaire +2 more sources
EFFECT OF CORPORATE GOVERNANCE INDEX ON DIVIDEND POLICY: AN INVESTIGATION OF TEXTILE INDUSTRY OF PAKISTAN [PDF]
This study observed empirically the impact of corporate governance index on dividend payout policy by using the data of seventeen textile firms listed in Karachi Stock Exchange. The data covered the five years period from 2009 to 2013.
Safdar Husain Tahir +3 more
doaj
Tax reform and payout policy: Do shareholder clienteles or payout policy adjust? [PDF]
Abstract Changes in taxation of corporate dividends offer excellent opportunities to study dividend clientele effects. We explore payout policies and ownership structures around a major tax reform that took place in Finland in 2004. Consistent with dividend clienteles affecting firms' dividend policy decisions, we find that Finnish firms altered ...
Timo Korkeamaki +2 more
openaire +1 more source
Institutional Tax Clienteles and Payout Policy [PDF]
This paper employs heterogeneity in institutional shareholder tax characteristics to identify the relationship between firm payout policy and tax incentives. Analysis of a panel of firms matched with the tax characteristics of the clients of their institutional shareholders indicates that "dividend-averse" institutions are significantly less likely to ...
Mihir A. Desai, Li Jin
openaire +1 more source
The Effect of Financial Flexibility on Payout Policy [PDF]
We use variation in real estate prices as exogenous shocks to firms’ debt capacity to study the causal effect of financial flexibility on payout policy. We show that an increase in financial flexibility results in higher dividends, share repurchases, and payout flexibility.
Anil Kumar, Carles Vergara-Alert
openaire +2 more sources
Impact of gender dichotomy on dividend payout policy in listed Nigerian financial services firm
This paper examines the impact of gender dichotomy on dividend payout policy in listed Nigerian financial services firm. A random-panel data methodological approach underpins this study.
Damilola Felix Eluyela +5 more
doaj +1 more source
Dividendai ir jų mokėjimas: teisinis vertinimas
Straipsnyje nagrinėjamos dividendų ir su jų mokėjimu susijusios problemos, siekiama išsiaiškinti, ar aiški ir vieša dividendų politika yra privaloma bendrovėms, analizuojama teisinė bazė, reglamentuojanti dividendų mokėjimo tvarką ir apribojimus ...
Vytautas Vaškelaitis +1 more
doaj +1 more source
A study on the effect of free cash flow and profitability current ratio on dividend payout ratio: Evidence from Tehran Stock Exchange [PDF]
Decision making about dividend payout is one of the most important decision that companies should encounter. Identifying factors that influence dividends can help managers in making an appropriate dividend policy.
Hosein Parsian, Amir Shams Koloukhi
doaj +1 more source
Kebijakan Pembagian Dividen Perusahaan BUMN Indonesia Periode 2011-2016
The purpose of this study is to analyze the factors that influence the dividend payout policy on BUMN companies listed in Indonesia Stock Exchange period 2011-2016.
Siti Nurainul Jannah
doaj +1 more source

