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Nonprofits and pass-throughs : performance comparison
Hull, Robert; Van Dalsem, Shane A. - In: International Journal of Financial Studies : open … 9 (2021) 1/13, pp. 1-43
This paper's purpose is to compare nonprofits with pass-throughs in terms of valuation, leverage, and growth. To … achieve this purpose, we use the Capital Structure Model. This model determines maximum firm valuation through incorporating … set results on valuation, leverage and growth, our findings are value-additive in terms of the comparative research on …
Persistent link: https://www.econbiz.de/10012483154
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Pass-through and C corp outputs under TCJA
Hull, Robert - In: International Journal of Financial Studies 8 (2020) 3, pp. 1-32
PT outputs for the categories of debt choice, valuation, and leverage gain. In the process, we expand on the nongrowth PT … January 2018, PTs had an after-tax valuation advantage over CCs. Under TCJA, we demonstrate this advantage has been reverse …
Persistent link: https://www.econbiz.de/10013200293
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Pass-through and C corp outputs under TCJA
Hull, Robert - In: International Journal of Financial Studies : open … 8 (2020) 3/46, pp. 1-32
PT outputs for the categories of debt choice, valuation, and leverage gain. In the process, we expand on the nongrowth PT … January 2018, PTs had an after-tax valuation advantage over CCs. Under TCJA, we demonstrate this advantage has been reverse …
Persistent link: https://www.econbiz.de/10012291770
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Ownership structure influencing the joint determination of dividend, leverage, and cost of capital
Rajverma, Abhinav Kumar; Arrawatia, Rakesh; Misra, Arun … - In: Cogent economics & finance 7 (2019) 1, pp. 1-25
The article analyses inter-dependencies between dividend, capital structure, and cost of capital, factoring the ownership structure of listed firms in India, using 3SLS system approach. The study finds that family firms are dominant with concentrated ownership. Dividend, leverage, and average...
Persistent link: https://www.econbiz.de/10012023922
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Impact of foreign ownership on dividend policy in Poland
Zyguła, Andrzej - In: E-Finanse : finansowy kwartalnik internetowy 13 (2017) 4, pp. 76-88
The article analyses the impact of foreign investors, who were the majority shareholders of companies on the Warsaw Stock Exchange, on dividend policy of these companies in the years 2004-2014. An evaluation of the direction and strength of the influence of the analysed group of investors, using...
Persistent link: https://www.econbiz.de/10011899978
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The Relationship between Ownership Structure and Dividend Policy: An Empirical Investigation
SHUBIRI, Faris Nasif AL-; TALEB, Ghassan AL; Abd AL – … - In: REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF … 13 (2012) 4, pp. 644-657
This paper examines the possible association between ownership structure, dividend payout policy. It is also one of the very first examples, which tries to detect any potential association in ownership structure, and well established dividend payout models in context of an emerging market .The...
Persistent link: https://www.econbiz.de/10010598281
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OWNERSHIP STRUCTURE AND STOCK REPURCHASE POLICY: EVIDENCE FROM FRANCE
Houcine, Rim El - In: Accounting & Taxation 5 (2013) 2, pp. 45-54
This article studies the relationship between ownership structure of French companies and their stock repurchase policy. According to financial theory, the presence of institutional investors negatively influences repurchasing policy because the preference of these investors is to reinvest in...
Persistent link: https://www.econbiz.de/10011212156
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An international analysis of dividend smoothing
Javakhadze, David; Ferris, Stephen P.; Sen, Nilanjan - In: Journal of Corporate Finance 29 (2014) C, pp. 200-220
This study examines the extent to which agency-based models and asymmetric information theories explain dividend smoothing around the world. Tests on a cross-section of more than two thousand firms from twenty-four countries show that managers of firms with low market-to-book ratios and less...
Persistent link: https://www.econbiz.de/10011117532
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Majority support of shareholders, monitoring incentive, and dividend policy
Mori, Naoya; Ikeda, Naoshi - In: Journal of Corporate Finance 30 (2015) C, pp. 1-10
As an alternative version of the side-payment model, this paper presents a demonstration of how the necessity of winning majority support of shareholders influences the relation between a blockholder's monitoring incentive and a firm's dividend policy. When dividend-averse individuals...
Persistent link: https://www.econbiz.de/10011190852
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Corporate Governance and Dividends Payout in India
Kumar, Jayesh - In: Journal of Emerging Market Finance 5 (2006) 1, pp. 15-58
This article investigates the association between corporate governance and the dividends payout policy for a panel of Indian corporate firms over the period 1994–2000. We explain the differences in the dividend payout behaviour of the firms with the help of firms' financial structure,...
Persistent link: https://www.econbiz.de/10011137909