Lozano, Belén; Miguel, Alberto de; Pindado, Julio - In: Investigaciones Economicas 26 (2002) 3, pp. 447-474
In this paper we develop a model to explain the dividend policy of firms under regulation in order to analyse the role … of dividends in regulated firms. Before estimating the model using the Generalised Method of Moments, we solved the … managers’ interests with those of shareholders in the scenario of regulated firms. In fact, it is more eficient than the ones …