. However, contrary to dividends, it is quite a new legal institution, which gained importance in developed capital markets as … repurchasing and changing relations between purchasing shares and paying out dividends in developed capital markets. It also …

lowers managers' need to convey their commitment to avoid overinvestment via costly dividend payouts. Conversely, dividends … could increase if minority investors are in a better position to extract cash dividends. We test these predictions by … pay (increase) dividends, but more likely to cut (stop) such payments. The changes occur around the time of the …

lowers managers' need to convey their commitment to avoid overinvestment via costly dividend payouts. Conversely, dividends … could increase if minority investors are in a better position to extract cash dividends. We test these predictions by … (increase) dividends, but more likely to cut (stop) such payments. The changes occur around the time of the informational shock …

stock market. The evidence indicates foreign investors show a preference for firms that pay high dividends. When they have … substantial shareholdings, foreign investors lead firms to pay more dividends. The results are driven by the fact that most of the …

lowers managers' need to convey their commitment to avoid overinvestment via costly dividend payouts. Conversely, dividends … could increase if minority investors are in a better position to extract cash dividends. We test these predictions by … (increase) dividends, but more likely to cut (stop) such payments. The changes occur around the time of the informational shock …

rights are weak, creditors demand, and firms consent to lower dividends. These findings show that creditors, and not …

of unique data for which there are no taxes on dividends and capital gains and tick size is fixed for all traded …

with retained earnings. The combination of costly changes in dividends and retained earnings as the marginal source of … dividends and investments are negatively related. The overall conclusion is that the implication of the new view is supported …