We investigate dividend smoothing behaviors of approximately 6,000 firms from 28 countries. The data find a wide … 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 …

, we find that family control is negatively related to the dividend payout ratio. Family firms are less (more) likely to … increase (omit) dividends than non-family firms. These negative associations between family firms and dividend policy are more …

We investigate the dividend smoothing behavior of firms using a large sample of firms covering 28 countries. Our … results show that the levels of dividend smoothing in the firms vary substantially across countries. This finding confirms and … extends the findings of previous research that the dividend policy of the U.S. firms differs materially from the dividend …

In a “perfect” market, Miller and Modigliani's celebrated dividend irrelevance argument holds, whereby a dividend … payment or omission is identical in impact to changes in a firm's share structure. Consequently, the dividend payment itself … structure of markets matters. In the United States, explanations of actual dividend policy usually stress transaction costs …

This paper explores the relationship between employee rights and dividend policy across countries. Using labor right … index as a proxy for agency costs of employees, we test the association between labor rights and dividend policies across … dividend payment amounts. This relationship is reinforced to be more salient in civil countries where shareholder rights are …

This paper explores the relationship between employee rights and dividend policy across countries. Using labor right … index as a proxy for agency costs of employees, we test the association between labor rights and dividend policies across … dividend payment amounts. This relationship is reinforced to be more salient in civil countries where shareholder rights are …

of both slight recovery and persisting uncertainty. Results about the dividend yield confirm the hypotheses whilst the …

We test the impact of taxes and governance systems on dividend payouts across countries. We show that, unlike previous …

We study a model that relates dividend payout policy to behavioral issues based on the ideas of mental accounting. A … dividend policy, while previous empirical studies could tackle this issue only indirectly. With several robustness tests we …