This paper aims to investigate the impact of corporate dividend policy on the capital structure in the Korean stock … market. To distinctly discern the voluntariness of changes in corporate dividend policy, we analyze companies that, following … increase, revealing a symmetric relationship between dividend policy and capital structure. In conclusion, large dividend …

Purpose: The purpose of the study is to analyze motivation behind payment of cash dividend by the firms in India in … presence of tax provision that discourages payment of dividend by imposing tax on firms at the time of distribution ….Design/methodology/approach First, consistent with Jensen's (1986) view, the paper presents a theoretical model that shows - dividend payout addresses …

Employee compensation may impact payout policy by (i) incentivizing managers with non-dividend-protected options to … dividend-protection and dilution channels imply a positive relation between stock options and repurchases. Yet, recent studies … dilution channel; dividend protection has no first-order effect on payout. Difference-in-differences analyses using a shock to …

shareholder conflict that can be mitigated by dividend payout.We study a large and clean regulatory shock in Norway that increases … the dividend tax rate for all individuals from 0% to 28%. We find that dividends drop less the higher the potential … shareholder conflict, suggesting that dividend policy trades off tax and agency considerations. The average payout ratio falls by …

-listing events, we find that firms reach a new equilibrium dividend policy after a shift in the level of shareholder protection and … the direction of the dividend adjustment depends on the pre-cross-listing locus of control. Exchange-traded cross …-listings can afford to decrease dividend payouts as they substitute dividends with better corporate governance. However, dividend …

Using data on listed banks in 51 countries, we analyze whether banks' dividend payouts are influenced by the relative … strengths of the agency conflicts faced by their shareholders and creditors. We show that dividend policy depends on the …

Using data on listed bankes in 51 countries, we analyze whether banks' dividend payouts are influenced by the relative … strengths of the agency conflicts faced by their shareholders and creditors. We show that dividend policy depends on the …

This study addresses the debate over the relation between institutional ownership and dividend payout through the lens … conditioning on firms' financial performance, they will use dividend payout to mitigate the firms' agency problems. We find the … ownership and dividend payout ratio; (2) the positive relation is more salient when the firm has high agency costs; and (3) the …