"We exploit demographic variation to identify the effect of dividend demand on firm payout policy. Retail investors tend to hold local stocks and older investors prefer dividend-paying stocks. Together, these tendencies generate geographically-varying demand for dividends. Firms headquartered in...

Basic concepts in strategic management -- Corporate governance -- Ethics and social responsibility -- Environmental scanning and industry analysis -- Internal scanning and organizational analysis -- Situation analysis and business strategy -- Corporate strategy -- Functional strategy and...