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An unresolved debate in behavioural choice research surrounds specifying individual choice sets. To overcome the limitations of deterministic and probabilistic approaches in a framework consistent with individual optimizing behaviour, this study develops an efficient frontiers approach to the...
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This study investigates the relationship between institutional ownership and dividend payout behavior of the firm in Germany. Using a propensity scoring method estimator to control for endogeneity problems, we find evidence that neither institutional ownership nor bank control is statistically...
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