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Keeping up with the Joneses and the real effects of S&P 500 inclusion
Bennett, Benjamin; Stulz, René M.; Wang, Zexi - 2021
Firms added to the S&P 500 index join a prestigious and exclusive club. They want to fit in the club, which creates a “keeping up with the Joneses” effect. Firms pay more attention to their index peers after inclusion and their investment, external financing, and payouts comove more with...
Persistent link: https://www.econbiz.de/10012584272
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Impact of foreign ownership on dividend policy in Poland
Zyguła, Andrzej - In: E-Finanse : finansowy kwartalnik internetowy 13 (2017) 4, pp. 76-88
The article analyses the impact of foreign investors, who were the majority shareholders of companies on the Warsaw Stock Exchange, on dividend policy of these companies in the years 2004-2014. An evaluation of the direction and strength of the influence of the analysed group of investors, using...
Persistent link: https://www.econbiz.de/10011899978
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Payout policies of privately held firms : flexibility and the role of income taxes
Jacob, Martin; Alstadsæter, Annette - 2013 - This version: November 2013
We study the importance of owner wages and dividends as alternative payout channels in privately held firms. Using data … on all Swedish closely held corporations and their owner-managers over the period 2000 - 2009, we find that dividends … comprise one-fourth of total payout to owner-managers. Dividends are used as a flexible payout channel. Wages are the preferred …
Persistent link: https://www.econbiz.de/10010207348
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Effects of foreign ownership on payout policy : evidence from the Korean market
Jeon, Jin Q.; Lee, Cheolwoo; Moffett, Clay M. - In: Journal of financial markets 14 (2011) 2, pp. 344-375
Persistent link: https://www.econbiz.de/10009266955
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Effects of Foreign Ownership on Payout Policy : Evidence from the Korean Market
Jeon, Jin - 2015
stock market. The evidence indicates foreign investors show a preference for firms that pay high dividends. When they have … substantial shareholdings, foreign investors lead firms to pay more dividends. The results are driven by the fact that most of the …
Persistent link: https://www.econbiz.de/10013020255
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The Effect of Institutional Ownership on Payout Policy : Evidence from Index Thresholds
Crane, Alan D. - 2014
We show firms pay more dividends and repurchase more shares when they have higher levels of institutional ownership …
Persistent link: https://www.econbiz.de/10013065857
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Determinants of Dividend Policy in Chinese Firms : Cash Versus Stock Dividends
He, Xi - 2009
dividends, different forms of dividends and market reactions to various dividend announcements. We find that profitable, low … undertaking subsequent equity offerings are more likely to pay dividends and cash dividends, in particular. Firms appear to cater … likely to pay cash dividends. Consistent with the use of stock dividends to attract the attention of analysts, we also find …
Persistent link: https://www.econbiz.de/10013156056
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Blockholder Leverage and Payout Policy : Evidence from French Holding Companies
Anantavrasilp, Sereeparp - 2019
entities individually and find that on average only 60% of dividends are passed through to the ultimate owners, with the rest …
Persistent link: https://www.econbiz.de/10012906183
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Blockholder Leverage and Payout Policy : Evidence from French Holding Companies
Anantavrasilp, Sereeparp - 2019
entities individually and find that on average only 60% of dividends are passed through to the ultimate owners, with the rest …
Persistent link: https://www.econbiz.de/10012906198
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Bank Dividends, Agency Costs and Shareholder and Creditor Rights
Lepetit, Laetitia - 2016
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 relative strengths of these agency conflicts, but with a...
Persistent link: https://www.econbiz.de/10012985920