rondi, laura; cambini, carlo; bremberger, francisca; … - Volkswirtschaftliche Fakultät, … - 2013
subject to incentive regulation smooth their dividends less than firms subject to cost plus regulation but also present higher … target payout ratios; thus suggesting that incentive regulation leads firms to a dividend policy more responsive to earnings … competition-like efficiency pressures following the adoption of incentive regulation, they are more inclined to cut dividends when …