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The Marginal Source of Finance
Lindhe, Tobias - 2002
with retained earnings. The combination of costly changes in dividends and retained earnings as the marginal source of … dividends and investments are negatively related. The overall conclusion is that the implication of the new view is supported …
Persistent link: https://www.econbiz.de/10010321814
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Neutral taxation of shareholder income?: corporate responses to an announced dividend tax
Alstadsæter, Annette; Fjaerli, Erik - 2009
large panel of non-listed corporations, with a surge of dividends prior to 2006 and a sharp drop after. Mature firms are … more likely to pay dividends, and high asset growth increases the probability of retaining all earnings. Intertemporal … income shifting through the timing of dividends seems to be a drain on internal equity and cause increases in the …
Persistent link: https://www.econbiz.de/10010264543
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Neutral taxation of shareholder income? : corporate responses to an announced dividend tax
Alstadsæter, Annette; Fjaerli, Erik - 2009
large panel of non-listed corporations, with a surge of dividends prior to 2006 and a sharp drop after. Mature firms are … more likely to pay dividends, and high asset growth increases the probability of retaining all earnings. Intertemporal … income shifting through the timing of dividends seems to be a drain on internal equity and cause increases in the …
Persistent link: https://www.econbiz.de/10003806745
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Corporate policies with permanent and transitory shocks
Décamps, Jean-Paul; Gryglewicz, Sebastian; Morellec, Erwan - 2016
We model the financing, cash holdings, and hedging policies of a firm facing financing frictions and subject to permanent and transitory cash flow shocks. We show that permanent and transitory shocks generate distinct, sometimes opposite, effects on corporate policies and use the model to...
Persistent link: https://www.econbiz.de/10011519080
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Financing payouts
Farre-Mensa, Joan; Michaely, Roni; Schmalz, Martin C. - 2014
repurchases and dividends being externally financed, primarily with debt. Most externally financed payouts are the result of firms …
Persistent link: https://www.econbiz.de/10010485006
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Using CFO Surveys as a Motivational Tool to Teach Corporate Finance
Graham, John R. - 2010
This article is based on the keynote address from the Eastern Finance Association meeting in South Beach in April 2010. In this keynote address, I discuss how to engage and motivate students by using the results from surveys of corporate finance professionals. Specific examples are given to...
Persistent link: https://www.econbiz.de/10013135347
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The Effect of Corporate Governance, Corporate Financing Decision and Ownership Structure on Firm Performance : A Panel Data Approach from Kuwait Stock Exchange
Al Mutairi, Mohammad Eid - 2010
The aim of this paper is to examine the effect of corporate governance, corporate financing decision, and ownership structure on firm performance. The study uses panel based regression approach; the analysis is based on a sample of 80 listed Kuwait Stock Exchange Market firms, over a period of 9...
Persistent link: https://www.econbiz.de/10013135649
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Behavioral Corporate Finance : An Updated Survey
Baker, Malcolm P. - 2011
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach...
Persistent link: https://www.econbiz.de/10013121566
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Managerial Incentives, Financial Constraints and Ownership Concentration
Protopapa, Marco - 2011
This work investigates the role of equity ownership for the purpose of committing the management to the pursuit of shareholder value in the presence of separation between ownership and control. By rooting the conflicts of interests between managers and shareholders upon the control of internal...
Persistent link: https://www.econbiz.de/10013125625
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Financial Constraint and Corporate Payout Policies : Evidence from a Natural Experiment in China
Yu, Jingwen - 2012
The paper attempts to study the insufficiency of corporate dividend payout in China from the perspective of financial constraint. The three financial constraint indexes are constructed to study the influence of financial constraint on corporate payout behavior. Furthermore, the issuance of...
Persistent link: https://www.econbiz.de/10013107423