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This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. While the concentration of control does not have an effect on the...
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Recent literature suggests that some socially responsible corporate actions benefit shareholders while others do not … environmental performance as the proxy for CSR. We show that family firms are more responsible to shareholders than non-family firms … diverge, i.e., when it comes to making environmental investments that might benefit society but do not benefit shareholders …
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