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The impact of dividend policy on price-to earnings ratio : the case of Western Europe

Nikolovska, Simona - In: Journal of contemporary economic and business issues 7 (2020) 1, pp. 21-39

In a world full of studies dealing with the relationship of price-to-earnings ratio and the dividend payout ratio, rarely noticeable are those examining the possibility that this relationship may be non-linear. Although rare, studies that aim to fill this gap focus solely on the US capital...

Persistent link: https://www.econbiz.de/10012268080

A Theory of Income Smoothing When Insiders Know More than Outsiders

Acharya, Viral V. - 2012

We consider a setting in which insiders have information about income that outside shareholders do not, but property rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent with outsiders' expectations based on publicly...

Persistent link: https://www.econbiz.de/10013109095

A Theory of Income Smoothing When Insiders Know More than Outsiders

Acharya, Viral V. - 2014

We develop a theory of income and payout smoothing by firms when insiders know more about income than outside shareholders, but property rights ensure that outsiders can enforce a fair payout. Insiders set payout to meet outsiders' expectations and underproduce to manage downward future...

Persistent link: https://www.econbiz.de/10013066995

Investigating the link between board independence and dividend distributions in South Africa

Viviers, Suzette; Mans-Kemp, Nadia; Janse van Vuuren, … - In: South African journal of business management 54 (2023) 1, pp. 1-11

Purpose: As shareholder-elected monitors, independent non-executive directors (INEDs) should ensure that managers do …

Persistent link: https://www.econbiz.de/10014234909

A Theory of Income Smoothing When Insiders Know More than Outsiders

Acharya, Viral V. - 2015

Persistent link: https://www.econbiz.de/10013037491

CEO Option Sensitivity to Dividend Yield and Its Impact on Corporate Dividend Policy

Gulen, Huseyin - 2015

We document a significantly negative correlation between the absolute sensitivity of the CEO's option portfolio value to dividend yield (denoted by the Greek letter Psi) and corporate dividend payouts. After the implementation of the FAS 123R, firms that reduce the CEOs' holdings of highly...

Persistent link: https://www.econbiz.de/10013011692

Independent Director Tenure and Dividends

James, Hui L.; Wang, Hongxia - 2023

-free-cash-flow firms. The results suggest that managers use dividends as camouflage to divert public scrutiny from compromised monitoring …

Persistent link: https://www.econbiz.de/10014254976

Financing payouts

Farre-Mensa, Joan; Michaely, Roni; Schmalz, Martin C. - 2014

Over 40% of firms that make payouts also raise capital during the same year, resulting in 31% of aggregate share repurchases and dividends being externally financed, primarily with debt. Most externally financed payouts are the result of firms persistently setting payouts above free cash flow....

Persistent link: https://www.econbiz.de/10010485006

Comparing dividend puzzle solutions by Polish, Canadian, Norwegian and American executives

Sierpińska-Sawicz, Agata - In: Contemporary economics 10 (2016) 3, pp. 249-258

foreign investors. The study expands on the existing survey research on dividends and provides new evidence from managers of …This study compares firms’ dividend policy antecedents in four countries. The author surveys managers of 230 companies … listed on the Warsaw Stock Exchange that paid dividends over the 2001-12 period and compares the findings to survey reports …

Persistent link: https://www.econbiz.de/10011631027

The application of financing and dividend decision techniques in practice among Ghanaian chief financial officers (CFOs)

Owusu-Ansah, Anthony; Addico, Nene Lartey; Amewu, Godfred - In: Cogent business & management 10 (2023) 1, pp. 1-31

We use a survey approach to investigate how managers in a frontier market apply financing and dividend decision … structure, managers consider most relevant issuing of stock to give investors a better impression of their firms’ prospects … maturity with the assets’ useful life span. Managers are most concerned about the volatility of their earnings and cash flows …

Persistent link: https://www.econbiz.de/10014469158