Mazzarano, Matteo; Guastella, Gianni; Pareglio, Stefano; … - 2021
, multiple total stock return measures distinguishing dividend payouts from simple stock returns. Results suggest that both … explicit and implicit risks are positively related to dividend payouts and not to stock returns, while the overall effect on … exposure and, probably as a consequence, boards in carbon intensive companies use dividend policies to attract investment in …