Speckbacher, Gerhard; Wentges, Paul - In: Frontiers in Finance and Economics 6 (2009) 1, pp. 51-72
According to Zingales (1999), corporate governance is defined as the complex set of constraints that shape the ex-post bargaining over the quasi-rents generated by a fim. This paper argues that corporate cash holdings and dividend policy can be used as soft constraints in this regard in order to...