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 Dividend Policy and Behavior in Emerging Markets written by Jack D. Glen and published by World Bank Publications. This book was released on 1995 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Access to Financial Services in Nepal written by Aurora Ferrari and published by World Bank Publications. This book was released on 2007 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: The publication presents the results of an access to financial services survey administered to Nepali households in 2005 and explains what hinders access by low income households and small businesses to financial institutions. The obstacles are identified on the basis of an in-depth analysis of the performance of the microfinance sector and of selected banks.
Download or read book Payout Policy written by and published by . This book was released on 2007 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dividend policy continues to be among the premier unsolved puzzles in finance. A number of theories have been advanced to explain dividend policy. This e-book briefly reviews the principal theories of payout policy and dividend policy and summarizes the empirical evidence on these theories. Empirical evidence is equivocal and the search for new explanation for dividends continues.
Download or read book Dividends and Dividend Policy written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2009-05-04 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dividends And Dividend Policy As part of the Robert W. Kolb Series in Finance, Dividends and Dividend Policy aims to be the essential guide to dividends and their impact on shareholder value. Issues concerning dividends and dividend policy have always posed challenges to both academics and professionals. While all the pieces to the dividend puzzle may not be in place yet, the information found here can help you gain a firm understanding of this dynamic discipline. Comprising twenty-eight chapters—contributed by both top academics and financial experts in the field—this well-rounded resource discusses everything from corporate dividend decisions to the role behavioral finance plays in dividend policy. Along the way, you'll gain valuable insights into the history, trends, and determinants of dividends and dividend policy, and discover the different approaches firms are taking when it comes to dividends. Whether you're a seasoned financial professional or just beginning your journey in the world of finance, having a firm understanding of the issues surrounding dividends and dividend policy is now more important than ever. With this book as your guide, you'll be prepared to make the most informed dividend-related decisions possible—even in the most challenging economic conditions. The Robert W. Kolb Series in Finance is an unparalleled source of information dedicated to the most important issues in modern finance. Each book focuses on a specific topic in the field of finance and contains contributed chapters from both respected academics and experienced financial professionals.
Download or read book Internal Financing In The Corporate Sector An Indian Experience written by Jagannath Panda and published by Kanishka Publishers. This book was released on 1993 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Payout Policy written by Harry DeAngelo and published by Now Publishers Inc. This book was released on 2009 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over the life of the enterprise, (ii) the time profile of a firm's payouts across periods, and (iii) the form of those payouts. The authors conclude that today's theory does a good job of explaining the general features of corporate payout policies, but some important gaps remain. So while our emphasis is to clarify "what we know" about payout policy, the authors also identify a number of interesting unresolved questions for future research. Corporate Payout Policy discusses potential influences on corporate payout policy including managerial use of payouts to signal future earnings to outside investors, individuals' behavioral biases that lead to sentiment-based demands for distributions, the desire of large block stockholders to maintain corporate control, and personal tax incentives to defer payouts. The authors highlight four important "carry-away" points: the literature's focus on whether repurchases will (or should) drive out dividends is misplaced because it implicitly assumes that a single payout vehicle is optimal; extant empirical evidence is strongly incompatible with the notion that the primary purpose of dividends is to signal managers' views of future earnings to outside investors; over-confidence on the part of managers is potentially a first-order determinant of payout policy because it induces them to over-retain resources to invest in dubious projects and so behavioral biases may, in fact, turn out to be more important than agency costs in explaining why investors pressure firms to accelerate payouts; the influence of controlling stockholders on payout policy --- particularly in non-U.S. firms, where controlling stockholders are common --- is a promising area for future research. Corporate Payout Policy is required reading for both researchers and practitioners interested in understanding this central topic in corporate finance and governance.
Download or read book Finance written by Nico van der Wijst and published by Cambridge University Press. This book was released on 2013-01-17 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: By providing a solid theoretical basis, this book introduces modern finance to readers, including students in science and technology, who already have a good foundation in quantitative skills. It combines the classical, decision-oriented approach and the traditional organization of corporate finance books with a quantitative approach that is particularly well suited to students with backgrounds in engineering and the natural sciences. This combination makes finance much more transparent and accessible than the definition-theorem-proof pattern that is common in mathematics and financial economics. The book's main emphasis is on investments in real assets and the real options attached to them, but it also includes extensive discussion of topics such as portfolio theory, market efficiency, capital structure and derivatives pricing. Finance equips readers as future managers with the financial literacy necessary either to evaluate investment projects themselves or to engage critically with the analysis of financial managers. Supplementary material is available at www.cambridge.org/wijst.
Download or read book Dividend Policy written by Ronald C. Lease and published by Harvard Business Review Press. This book was released on 2000 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: With relevant anecdotes, surveys, examples, and research from the financial press, company documents, and academic literature, the book focuses less on mathematics and more on the intuition of share valuation as a function of dividend policy.
Download or read book The Benefits and Costs of Group Affiliation written by Stijn Claessens and published by . This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the benefits and associated agency costs of using internal capital markets through affiliating with groups using data of two thousand firms from nine East Asian economies between 1994-96. We find that mature and slow-growing firms with ownership structures more likely to create agency problems gain more from group affiliation, while young and high-growth firms more likely lose. Agency problems are important explanatory factors of firm value in economies outside Japan, but less so in Japan. Consistent with the literature, financially-constrained firms benefit from group affiliation. Our results are robust to different time periods and estimation techniques.
Download or read book The Declaration of Dependence written by Jeffrey L. Huston and published by Archway Publishing. This book was released on 2015-11-30 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: When it comes to investing, its not all about earnings per share. Many investors pay just as muchif not moreattention to whether a company pays dividends, dividend yields, and how fast dividends are expected to grow. Whether youre an investor or corporate executive, its important to consider how dividend policy can inflate or deflate stock prices. This book provides valuable insights into how dividend payouts affect success. Topics include: origins and types of dividend payments; taxes as an influence on dividend payments; stockholder reactions to dividend omissions, initiations, and reductions; utilities and why they consistently pay high dividends. The author highlights how managers of larger, more mature firms establish a declaration of dependence between their firms and their investors. The payment of a regular dividend, which fluctuates much less than underlying earnings, is not required by law but can be a sacred compact among investors and managers. Take a key step in evaluating your company and/or investment portfolio and stay on track with The Declaration of Dependence: Dividends in the Twenty-First Century.
Download or read book Survey Research in Corporate Finance written by H. Kent Baker and published by Oxford University Press. This book was released on 2011-01-19 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: As there is no current book that deals extensively or exclusively with survey research in corporate finance Survey Research in Corporate Finance is the only one of its kind. For even while there are numerous books on survey methodology, none focus on this methodology as specifically applied to corporate finance. In the book, Baker, Singleton, and Velt do nothing less than provide an overview of survey methodology useful to financial researchers, synthesize the major streams or clusters of survey research in corporate finance, and offer a valuable resource and guide for those interested in conducting survey research in finance. Thus this volume will be an essential reference for practitioners, academics, and graduate students - who all must know the methodology of finance survey research. In addition to methodology, the book identifies areas that will be best served by survey-based research. Researchers will have a wealth of information regarding past surveys and will be aware of suitable candidates for future surveys. Several chapters are devoted to synthesizing survey results on major issues in finance. These will help decision makers in finance and in non-finance firms to acquire knowledge learned from years of communications between academics and practitioners.
Download or read book Contemporary Financial Management written by R. Charles Moyer and published by South Western Educational Publishing. This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The eighth edition of this successful text provides a comprehensive and contemporary introduction to financial management, focusing on shareholder wealth maximization and cash flow management, the international aspects of financial management, the ethical behavior of managers, and the increased impact of the Internet in business practice. In addition, content has been added or enhanced to reflect the changing focus on finance areas including topics such as discounted payback period, dividend practices of foreign firms, risk management, and real options.
Download or read book The Control of Corporate Europe written by Fabrizio Barca and published by OUP Oxford. This book was released on 2001-11-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by an international team of authors, this book provides the first systematic account of the control of corporate Europe based on voting block data disclosed in accordance with the European Union's Large Holdings Directive (88/627/EEC). The study provides detailed information on the voting control of companies listed on the official markets in Austria, Belgium, France, Germany, Italy, the Netherlands, Spain, Sweden, the United Kingdom, and, as a benchmark comparison, the United States. The authors record a high concentration of control of corporations in many European countries with single blockholders frequently controlling more than fifty per cent of corporate votes. In contrast, a majority of UK listed companies have no blockholder owning more than ten per cent of shares, and a majority of US listed companies have no blockholder with more than six per cent of shares. Those chapters devoted to individual countries illustrate how blockholders can use legal devices to leverage their voting power over their cash-flow rights, or how incumbents prevent outsiders from gaining voting control. It is shown that the cultural and linguistic diversity of Europe is (almost) matched by its variety of corporate control arrangements.
Download or read book Investment Traps Exposed written by H. Kent Baker and published by Emerald Group Publishing. This book was released on 2017-03-20 with total page 447 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investment Traps Exposed helps investors and investment practitioners increase their awareness about the external and internal traps that they or their clients can encounter.
Download or read book Principles of Investment written by John Emmett Kirshman and published by Chicago A.W. Shaw 1924.. This book was released on 1924 with total page 938 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dividend Policy and Stock Price Volatility written by David E. Allen and published by . This book was released on 1993 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
