Download or read book An Empirical Examination of Corporate Dividend Policy written by Seongho Park and published by . This book was released on 1996 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Empirical Examination of the Effect of Regulation on Corporate Dividend Policy written by Jaehoo Choi and published by . This book was released on 1989 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Empirical Examination of the Effect of Regulation on Corporation Dividend Policy written by Jaehoo Choi and published by . This book was released on 1989 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dividend Policy and Corporate Governance written by Luis Correia da Silva and published by OUP Oxford. This book was released on 2004-02-26 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dividends are not only a signal about a firm's prospects under asymmetric information, but they can also act as a corporate governance device to align the management's interests with those of the shareholders. Dividend Policy and Corporate Governance is the first comprehensive volume on the relationship between dividend policy and corporate governance, and examines in detail empirical studies and current theories. Reviewing the interactions between dividend policy and other corporate governance mechanisms, it compares results for the UK and the US with those for other countries such as France, Germany, and Japan, and provides new empirical evidence on corporate governance in continental Europe and its impact on dividends. Focusing on one of the main representatives of this system, Germany, it highlights major differences between the dividend policies of German firms and those of UK or US firms. Conventional wisdom states that German dividends are lower than UK or US dividends, yet on a published-profits basis the exact converse is true. In addition, the authors demonstrate a link between corporate control structures and dividend payouts, report evidence that the existence of a loss is an additional determinant of dividend changes, and demonstrate that the tax status of the controlling shareholder and the firm's dividend payout are not linked. The conclusions reached in this book have important implications for the current debate on corporate governance, making it invaluable for academics, finance professionals, regulators, and legal advisors.

Download or read book Managing Corporate Dividend Policy an Empirical Analysis written by Blackson Mwale and published by . This book was released on 1982 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dividend Policy Relevance written by Thomas C. Johansen and published by . This book was released on 1990 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Empirical Investigation of Asymmetric Behavior in Corporate Dividend Policy written by Hassan M. Shirvani and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Employing three alternative measures of ability to pay, we find support for the Lintner hypothesis that firms pursue a long-run target payout ratio and also that current earnings better explain long-run dividends than cash flows or stock prices. The evidence further indicates that corporations adjust dividends with a ratchet effect, raising them more readily than they lower them. More specifically, when dividends are below target levels, firms move toward equilibrium by increasing them, but when dividends are above target levels, firms approach equilibrium by restricting dividend increases as earnings rise.

Download or read book An Empirical Examination of Large Bank Dividend Policy written by William Frederick Kennedy and published by . This book was released on 19?? with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Control and Financial Policy written by Luis Correia Da Silva and published by . This book was released on 1997 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Corporate Dividend Policy and Managerial Entrenchment written by Aidong Hu and published by . This book was released on 2002 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dividend Policy Corporate Governance and the Managerial Entrenchment Hypothesis written by Jorge Farinha and published by . This book was released on 2002 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyses the agency explanation for the cross-sectional variation of corporate dividend policy in the UK by looking at the managerial entrenchment hypothesis drawn from the agency literature. The agency perspective of dividends asserts that cash payments to shareholders may help to reduce agency problems either by increasing the frequency of external capital raising and associated monitoring by investment bankers and investors (Easterbrook, 1984), or by eliminating free cash-flow (Jensen, 1986). Although other theories have been proposed to explain cross-sectional dividend policy (notably those based on signalling and tax clienteles), the existing empirical literature typically finds that the observed dividend behaviour is consistent with more than a single theory, and therefore usually fails to dismiss alternative explanations. However, the managerial entrenchment hypothesis taken from the agency literature offers a distinctive set of predictions that cannot be found in other competing stories for the explanation of cross-sectional dividend policy behaviour. Consistent with such hypothesis, this paper, using a large (exceeding 600 firms) sample of UK firms and two distinct periods, finds evidence of a strong U-shaped relationship between dividend payouts and insider ownership in the UK. Specifically, these findings show that after a critical entrenchment level estimated in the region of 30%, the coefficient of insider ownership changes from negative to positive. These results strongly suggest the possibility of managerial entrenchment when insider ownership reaches a threshold of around 30%. Evidence is also presented that non-beneficial holdings by insiders (i.e., shares held by insiders on behalf of third parties) can lead to entrenchment in conjunction with shares held beneficially.

Download or read book An Examination of Dividend Policy Within the Agency Theory Framework written by Mahmoud Ahmad Issa Moh'd and published by . This book was released on 1991 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An empirical analysis of the relationship between return on investment and dividend policy written by Milow H. Klein and published by . This book was released on 1970 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Empirical Test of the Agency cost Theory of Dividend Policy written by Robert Ray Irons and published by . This book was released on 1995 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dividend Policy in Hong Kong written by Wai-man Grace Tam and published by . This book was released on 2001 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Determinants of dividend policy written by Anastasia Tsagkarinou and published by . This book was released on 2005 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Determinants Of Corporate Dividend Policy written by R.P. Mahapatra Et Al. and published by . This book was released on 1993-01-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dividend Policy Is A Key Decision Area In The Field Of Financial Management. It Is Not Clearly Understood By A Large Segment Of The Financial Community Even Today. There Is A Misconception That Dividend Policy Is A Straight Forward And Simple Aspect Of Finance As Compared With The More Technical Areas Such As Taxation, Liquidity Management And Cost Accounting. However, Dividend Policy Decision Is A Complex One Having Numerous Implications For The Firm. It Has Both Micro As Well As Macro Significance. In Spite Of Such A Dual Importance Of This Problem, Its Theoretical Determinants Are Less Well As Macro Significance. In Spite Of Such A Dual Importance Of This Problem, Its Theoretical Determinants Are Less Well Established And This Is An Area In Which Very Little Research Has Been Done In Our Country.In The Above Back Drop The Present Work Has Broadly Been Split Into Two Parts. The First Part Deals With The Review Of The Theoretical Literature And The Legal Aspects Of Dividend Policy. The Second Part Is Concerned With The Empirical Analysis Of Corporate Dividend Behaviour Of Sample Companies Selected For This Purpose. The Analysis Of The Trend Of Corporate Dividend Behaviour Reflected In This Book Has Been Studied By Examining The Profit And Dividend Relationships And The Dividend Pay Out Ratios Of The Sample Companies. However, To Enquire Into The Determinants Of Dividend Policy Some Known Regression Models Have Been Extensively Used In The Study To Gauge Their Relative Ability To Explain The Dividend Policy Decisions In The Indian Situation. This Has Been Carried Out By Picking A Judgment Sample Of 90 Companies With Reference To Six Selected Industries Belonging To Both The Traditional And Non-Traditional Sector Of Our Economy. It Is Believed That The Findings Of The Stuffy In Expected To Be Of Great Use To The Teachers, Researchers And Students Of Economics, Commerce And Management To Management Personnel Of Various Financial Institutions And Industrial Corporation, And To The Investing Public At Large.