Nguyen, Thanh Cong; Le, Trung Hieu; Nguyen, Thi Ngoc Phuong - 2022
This paper examines the impact of policy uncertainty on corporate dividend payouts in a sample of 20,856 US firms over the period 1991-2020. In line with the agency theory, we find evidence that firms pay higher dividends to mitigate agency problems during periods of high policy uncertainty. The...