larger dividends and more often than industrial firms. Investors often look at the dividends as being important return …

Purpose -The purpose of this paper is to examine the effects of financial flexibility as represented by excess cash … holdings and debt capacity upon firm returns after periods of high market uncertainty. Design/methodology/approach -Days of … approximately 45,000 firm events. The main variables of interest are excess cash (Duchin et al., 2010) and debt capacity. Two …

Purpose – The purpose of this paper is to examine the effects of financial flexibility as represented by excess cash … holdings and debt capacity upon firm returns after periods of high market uncertainty. Design/methodology/approach – Days of … approximately 45,000 firm events. The main variables of interest are excess cash (Duchin et al. , 2010) and debt capacity. Two …

investor's total return, but this role has declined over time. Although many companies still pay cash dividends, share … and survey-based research on corporate payout policy. Findings – Dividends once constituted a prominent part of an … the flexibility of repurchases relative to dividends. Developing a comprehensive model that explains the choice between …

investor's total return, but this role has declined over time. Although many companies still pay cash dividends, share … and survey‐based research on corporate payout policy. Findings – Dividends once constituted a prominent part of an … the flexibility of repurchases relative to dividends. Developing a comprehensive model that explains the choice between …