This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax … preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. While the … concentration of control does not have an effect on the dividend payout, there is strong evidence that the type of controlling …

This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax … preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. While the … concentration of control does not have an effect on the dividend payout, there is strong evidence that the type of controlling …

-specific determinants of dividend payout probabilities. Only the largest shareholders with equity stakes that are either between 25% and 50 …Numerous studies analyze the impact of ownership concentration and shareholder identity on dividend payout … dividend payments. Because the importance of those proxies varies with the classification techniques applied, we use both …

Vergleich zu einer Dividende vorteilhaft auf die Vermögensposition der Aktionäre auswirkt. Die Abschätzung der quantitativen … period. Prior to that point of time stock owners preferred profit distributions by share repurchase instead of a dividend due … examines the wealth of stock owners when a firm distributes earnings by dividend or share repurchase instead. The results …

. Shareholders who grant loans have a dual stakeholder role, being both equity holders and creditors. Those loans could be lost … payments from shareholder loans tend to lower payout volatility which also reduces the need for dividend and earnings smoothing …

Reduction Act 2001 (GTRA). The GTRA considerably changed the tax preference of shareholders and consequently affected the … decisions are driven by corporate insiders or by influential shareholders. We find that the tax reform reduced both the … substantial stakes, dividend payout behavior has not changed in the aftermath of the GTRA enactment. This effect does not depend …