-Miller irrelevance theorem. This paper combines dividend signalling theories and the Diamond-Dybvig bank run model. An opaque bank must … signal its solvency by paying high and stable dividends in order to keep depositors tranquil. This signalling may require … costly liquidations if the return on assets has been poor, but not paying the dividend might cause panic and trigger a run on …

, they are not dividend-protected, i.e., any dividend payout decreases the value of a manager's options. Empirical evidence … in share repurchases. This paper analyzes different forms of dividend protection and addresses the importance of dividend …

This article investigates the effect of corporate risk management on dividend policy. We extend the signaling framework … flow. We find that the higher the hedging level, the lower the incremental dividend. This result is intuitive. It is in … positive relation between information asymmetry and dividend policy (e.g., Miller and Rock [1985. The Journal of Finance 40 …

for the selected public/private companies. We formulate the Ledenyov theory on the winning virtuous strategies creation …

contributor to asymmetric information. Based on the implications of the transaction cost theory, the agency cost and pecking order … theory, we argue that these fundamentals characteristics affect the financial policy. Our results show that R …&D-intensive firms exhibit lower leverage, a shorter debt maturity, a lower dividend payment and a higher cash level. …

induced nonlinearities. We formulate the Ledenyov theory on the winning virtuous strategies creation toward the leveraged …

induced nonlinearities. We formulate the Ledenyov theory on the winning virtuous strategies creation toward the leveraged …