Purpose – This paper seeks to examine whether or not divident policy is influenced by the firm's corporate control structure, investigating the relationship between the dynamics of earnings payout and the voting power enjoyed by different types of shareholders. This allows one to test a set of...

Purpose – The purpose of this paper is to investigate the relative preference for dividends vs share repurchases based on managers’ personal wealth and control benefits. Design/methodology/approach - The paper presents an analytical model of managerial preferences and information advantages,...