We investigate the dividend smoothing behavior of firms using a large sample of firms covering 28 countries. Our … results show that the levels of dividend smoothing in the firms vary substantially across countries. This finding confirms and … extends the findings of previous research that the dividend policy of the U.S. firms differs materially from the dividend …

shareholders …

) and dividend policy in Poland. Our empirical approach, constructs measures of the quality of the corporate governance for … the TDI or its subindices leads to an increase in the dividend-to-cash-flow ratio. These results support the hypothesis … standards. Therefore, minority shareholders often use power to extract dividends. We also find that large and more profitable …

This article examines the effects of family involvement on dividend policy in closely held firms that face agency … problems involving majority-minority shareholders. We argue that minority shareholders press for dividends when they perceive … not impact dividend policy; family involvement in both ownership and control through pyramids impacts dividend policy …

This is the first comprehensive study of the distribution of voting rights to shareholders. Only those owning stock on …

This paper examines the impact of controlling shareholders' stock pledge on institutional shareholding using the sample … of Chinese listed firms. Stock pledge means shareholders use stock of listed firms as the pledged assets to apply for … shareholders' stock pledge decreases institutional shareholding significantly and such relation is more remarkable in the subsample …

costs between controlling and minority shareholders in a weak-institution environment …

structure, dividend policy, ownership structure and firm performance. We find that, to some extent, the types of shareholders … value are government shareholding and individual shareholders. We also find evidence of its intermediate function, because … both capital structure and dividend policy significantly and positively influence firm value. The results of simultaneous …

managers and shareholders upon the control of internal funds, a simple model allows to analyse the link between profit …

market appears to value IDB presence and the associated decrease in dividend yield. About 75% of the IDBs in our sample are …