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Persistent link: https://www.econbiz.de/10014467282
Based on a review of international and regional responses to the global financial and economic crisis and its implications for finance in Asia, Douglas Arner and Lotte Schou-Zibell draw lessons for Asian financial systems with regard to the scope of regulation; financial standards; supervision,...
Persistent link: https://www.econbiz.de/10011283429
We document a 5 percentage point decline in the share of global corporate income paid to labor from the mid-1970s to the late 2000s. Increased dividend payments did not absorb all of the resulting increase in profits, and therefore, the supply of corporate savings increased by over 20 percentage...
Persistent link: https://www.econbiz.de/10013105240
variation in the extent of dividend smoothing across countries, while US firms smooth dividends the most. Firms with a … concentrated ownership structure adjust their dividends quickly, especially when the target dividend level is lower than dividends … dividends more than companies in a partial or full imputation system. These results suggest US firms adjust their dividend …
Persistent link: https://www.econbiz.de/10013065545
reforms, firms are more likely to use cash to increase R&D expenditures, dividend payouts, and share repurchases, but not to …
Persistent link: https://www.econbiz.de/10012839468
We derive and develop a simple and intuitive model that shines fresh light on the relentless debate over whether corporate ownership converges to the Berle-Means modern corporation with high stock ownership dispersion. Our model takes into account the importance of both protective legal...
Persistent link: https://www.econbiz.de/10013004147
Recent events, most notably the Global Financial Crisis and the COVID-19 pandemic, have made it increasingly apparent that liquidity is synonymous with corporate survival. In this paper, we explore how governments can fulfill an important need as suppliers of liquidity. Building on the financing...
Persistent link: https://www.econbiz.de/10012853090
This paper studies the monitoring role of sovereign wealth funds (SWFs). By using unique dataset from one of the largest SWF: Temasek holdings, we find that SWF's presence has a positive effect on cash holdings of portfolio companies. The effect is more pronounced for well-governed firms,...
Persistent link: https://www.econbiz.de/10012856054
increase (omit) dividends than non-family firms. These negative associations between family firms and dividend policy are more …
Persistent link: https://www.econbiz.de/10012856800
This study investigates whether the stewardship code mitigates the free-rider problem of institutional investors. We construct panel data of listed firms in 56 countries and examine the effects of the introduction of stewardship codes in 13 countries using a difference-in-differences approach....
Persistent link: https://www.econbiz.de/10012861969