for the EU to better insulate managers from shareholder pressure. But the evidence offered---rising levels of repurchases … and dividends---is incomplete and misleading: it ignores large offsetting equity issuances that move capital from …

activities come from investment, dividends, or net cash. The model fits a broad set of data moments in large heterogeneous …

results suggest that IPO firms demonstrate a preference for repurchases over dividends as the specific form of payout … the specific form of payout mechanism adopted. Further, we find that dividends and repurchases represent distinct payout … considerations, signaling theory provides the more likely explanation for payout initiations through share repurchases …

firms use repurchases as a means to signal their firm quality, as well as to correct the market's overreaction to the bad … news. These IPO-induced repurchases are stronger when the rival firms are in a concentrated industry and experienced poor …

that banks distributing more dividends out of earnings are more likely to issue CoCos. This result is more pronounced when … bank shareholders have a stronger preference for dividends. CoCo issuance is not related to regulatory capital ratios for …