Dickerson, Andrew P; Gibson, Heather D; Tsakalotos, Euclid - In: Journal of Industrial Economics 46 (1998) 3, pp. 281-300
The authors investigate the relationship between a company's dividend strategy and its risk of takeover. Their results from a large panel of U.K. quoted companies suggest that higher dividend payments are associated with a significantly lower conditional probability (hazard) of takeover....