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Purpose -This paper seeks to present and test a model of the association between dividend payout and executive compensation. Design/methodology/approach - The authors develop a model based on Bhattacharyya whereby managerial quality is unobservable to shareholders, and therefore first-best...
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Purpose – This paper seeks to present and test a model of the association between dividend payout and executive compensation. Design/methodology/approach – The authors develop a model based on Bhattacharyya whereby managerial quality is unobservable to shareholders, and therefore...
Persistent link: https://www.econbiz.de/10014939999