Cohen, Gil; Yagil, Joseph - In: Applied Economics Letters 16 (2009) 12, pp. 1201-1204
In this study we use a sample of 334 S&P500 companies to examine the extent to which financially distressed firms pay dividends in order to attract investors. We find a higher dividend yield and a higher pay-out ratio for financially distressed firms than for financially stable firms. We also...
