dividend as long as capital gains are not heavily discriminated by taxation in relation to dividends. The positive price effect … of dividends can be enhanced if the firm implements a dividend reinvestment plan (DRIP). … effects considered in signaling games. We show that paying out free cash flow, either as a dividend or via repurchasing shares …

For more than 50 years, researchers around the world have been searching for a solution to Blacks famous 'dividend … 'traditional view' of dividend taxation, German decision-makers cut back their dividend payments in response to the reduced … advantageousness of dividends in comparison to capital gains after the reform. …

strong family capitalism. We find that family firms exhibit a higher propensity and level for both dividend payments and … 'real family firms' lead to a higher 'taste for dividend payments' if compared to firms dominated by the founder ('founder …

We study the importance of owner wages and dividends as alternative payout channels in privately held firms. Using data … on all Swedish closely held corporations and their owner-managers over the period 2000 - 2009, we find that dividends … comprise one-fourth of total payout to owner-managers. Dividends are used as a flexible payout channel. Wages are the preferred …

Stock Exchange, on dividend policy of these companies in the years 2004-2014. An evaluation of the direction and strength of … - dividend payout policy based on the binary logit model - showed that along with a growing share of a foreign investor in a … given company the probability of dividend payment by the company increased significantly. The second - dividend level change …

strong family capitalism. We find that family firms exhibit a higher propensity and level for both dividend payments and … "real family firms" lead to a higher taste for dividend payments' if compared to firms dominated by the founder ("founder …

This article examines the propensity to pay dividends in the U.S banking sector during 1973-2014. Although the … propensity to pay dividends has been declining over the 52 years of our sample period, banks are consistently more likely to pay … dividends than non-financial firms. Using the coefficients from logit models estimated early in the sample period to forecast …

-payers, consistent with the Dividend-Stability Channel. However, among banks that pay dividends, excessive dividends makes them riskier …Relying on a US bank sample, we document the double-edged sword of dividends on the bank's riskiness. Paying dividends …, consistent with the Dividend-Fragility Channel. Our results remain unchanged due to a battery of robustness testings. …

dividends. We show both theoretically and empirically that dividends signal safer, rather than higher, future profits. Using the … model’s predictions, cash-flow volatility changes in the opposite direction from that of dividend changes and larger changes …