problem. We hypothesize that firms which face limitations on debt may use increased dividend payments as a second-best bonding …

The objective of the paper is to analyse capital adequacy, dividend policy and new share issues of Italian banks in the … comprehensive way. Particular attention is paid to dividend policy for two reasons: on the one hand, in hindsight, dividend policy …. The proposed mechanism is based on capital distribution constraints (i.e. no dividend payments) when capital levels fall …

This paper examines the existence of pro-dividend fads and, if such fads exist, their effect on stock valuations …. Building upon the notion that investors are more likely to invest in assets they perceive to be safe (e.g., dividend paying … stocks) especially when they feel financially insecure, we find that investors value dividend paying stocks more highly than …

This research aims to test dividend signaling theory in an Indonesian capital market. Signaling theory states that … dividend policy has information content that can influence to share price. Examination of theory of signaling is related to … there even exist mentioning this as phenomenon of disappearing dividend. Examination of theory of signaling is also related …

This paper explores the impact dividend taxes exert on the dividends repatriated from foreign affiliates to their … German parent company. Based on an augmented Lintner model of firms' dividend payout decisions, the paper focusses on cross …-border intra-firm dividend payments of wholly-owned foreign affiliates in the manufacturing sector. Firm-level data from the …

dividend payout ratios instead correspond to higher future earnings growth. Examining both listed and delisted firms on the … Australian stock exchange over the period 1989 to 2008, we provide further evidence that the dividend payout ratio is positively …

We analyze 987 ex-dividend events in Taiwan stock market between January 1992 and December 2006, and find that … differential taxes really matter for the share prices and investors behaviors around the ex-dividend day. Ex-day price drop ratio … increases with the investors' average preference for dividend relative to capital gains. The excess volume around the ex-dividend …

This paper examines investors' reactions to dividend reductions or omissions conditional on past earnings and dividend … reaction for firms with long patterns of past earnings and dividend payouts is significantly more negative than for firms with …. First, consistent with DeAngelo, DeAngelo, and Skinner (1992), a loss following a long stream of earnings and dividend …

The neo-classical finance theory suggests that capital markets can reasonably reflect the value of listed companies … stock return volatilities, and without a stable cash dividend policy, stock return volatilities may unrelated to the …

Sustainability and economic relevance of dividend policies are addressed in terms of an optimal control model set forth … capital gains, can be given explicit representation. In the light of the theory of capital tailored by Dorfman (1969), an …