Schmid, Thomas; Ampenberger, Markus; Kaserer, Christoph; … - Lehrstuhl für Finanzmanagement und Kapitalmärkte - 2010
Around the world (with the U.S. and U.K. as exceptions) concentrated ownershipstructures and controlling shareholders are predominant even among listed firms. We providenovel empirical evidence how such controlling shareholders, in particular founding families,affect payout policy decisions....