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Returns for Dividend-Paying and Non Dividend Paying Firms

Fu, Yufen; Blazenko, George W. - In: The International Journal of Business and Finance Research 9 (2015) 2, pp. 1-20

In this paper, we compare the equity returns of dividend-paying and non-dividend paying firms. We find no unconditional return difference even though non-dividend paying firms have many characteristics that suggest high risk. Equivalently, because non-dividend paying firms have high...

Persistent link: https://www.econbiz.de/10011011763

Investment opportunities, corporate finance, and dividend payout policy: Evidence from emerging markets

Abor, Joshua; Bokpin, Godfred A. - In: Studies in Economics and Finance 27 (2010) August, pp. 180-194

Purpose – The purpose of this paper is to investigate the effects of investment opportunities and corporate finance on dividend payout policy. Design/methodology/approach – This issue is tested with a sample of 34 emerging market countries covering a 17-year period, 1990-2006. Fixed effects...

Persistent link: https://www.econbiz.de/10009392944

Agency Issues in a Family Controlled Corporate Governance Structure The Case of Italy

Bhattacharyya, Nalinaksha; Elston, Julie Ann; Rondi, Laura - Istituto di Ricerca sulla Crescita Economica … - 2011

managerial compensations are negatively related to dividend payout ratios, even in this family controlled environment, dividends …

Persistent link: https://www.econbiz.de/10009200957

Does Greater Public Scrutiny Hurt a Firm's Performance?

Bennett, Benjamin; Stulz, René M.; Wang, Zexi - 2023

Public attention to a firm may provide valuable monitoring, but it may also have a dark side by constraining management’s decisions and distracting it. We use inclusion in the S&P 500 index as a positive shock to public attention. Media coverage, Google searches, SEC downloads, SEC comment...

Persistent link: https://www.econbiz.de/10014254992

Dividend Policy of the ISE Industrial Corporations: The Evidence Revisited (1986-2007)

Adaoglu, Cahit - In: Journal of BRSA Banking and Financial Markets 2 (2008) 2, pp. 113-135

The study aims to find out whether the disappearing dividends, the decline in the number of dividend payers, the size …/nominal dividends driven by the high dividend/ earnings concentration and the increasing level of earnings. The reinstatement of the …

Persistent link: https://www.econbiz.de/10008464844

Quelques enseignements tirés de la recherche en finance d’entreprise

Schatt, Alain - In: Revue Finance Contrôle Stratégie 11 (2008) Special, pp. 193-235

(dividends and share repurchases) decisions. …

Persistent link: https://www.econbiz.de/10005111117

Decisiones financieras y oportunidades de crecimiento en la empresa espa¤ola. Un an lisis con datos de panel.

Andrés Alonso, Pablo de; López-Iturriaga, Félix; … - Programa Interuniversitario de Doctorado en Nuevas … - 2000

El objetivo del presente trabajo es analizar la influencia que tienen las decisiones de endeudamiento, de distribuci¢n de dividendos y la estructura de propiedad sobre el valor de mercado de la empresa en situaciones caracterizadas por la ausencia o existencia de oportunidades rentables de...

Persistent link: https://www.econbiz.de/10005827292

The Internal Governance of Firms

Acharya, Viral V; Myers, Stewart C; Rajan, Raghuram G - C.E.P.R. Discussion Papers - 2009

theory of investment and dividend policy, where dividends are paid by self-interested CEOs to maintain a balance between …

Persistent link: https://www.econbiz.de/10004980207

DIVIDENDS, CONTROLLING SHAREHOLDERS AND FIRM PERFORMANCE: AN INVESTIGATION OF LARGE FIRMS ON THE HONG KONG STOCK EXCHANGE

HE, TINA T.; LI, WILSON X. B.; TANG, GORDON Y. N. - In: Annals of Financial Economics (AFE) 08 (2013) 02, pp. 1350011-1

This study examines whether dividends payout has a positive contribution to firm performance while taking into account … over the 1998–2007 period, we find that dividends payout has statistically significantly positive impacts on both return on … assets (ROA) and Tobin's Q, particularly after controlling for the nonlinear relation between dividends and firm performance …

Persistent link: https://www.econbiz.de/10010734045

Cash dividends and investor protection in Asia

Goyal, Abhinav; Muckley, Cal - In: International Review of Financial Analysis 29 (2013) C, pp. 31-43

We study the importance of investor rights in payout policy determination in Asia, using a sample of up to 52,778 firm years. The listed Asian firms located in relatively high investor protection, common law countries, have a greater tendency to payout and, if they do so, they tend to pay out...

Persistent link: https://www.econbiz.de/10010741749