We develop a discrete choice recursive model that classifies companies with and without dividend reinvestment plans …, suggesting that financial statements foreshadow changes in plan status. Companies that add dividend reinvestment plans tend to …

This paper shows that for a sample of firms offering SEOs non dividend paying firms experienced larger valuation gains … from the 2003 dividend tax cut as compared to dividend paying firms. Using a growth option valuation framework, our … findings indicate that the growth option revaluation benefited the non dividend paying firms more. In particular, the book …

The catering theory of dividends proposed that corporate dividend policy is driven by prevailing investor demand for … dividend payers, and that managers cater to investors by paying dividends when the dividend premium is high. While earlier … research found that the dividend premium is not driven by traditional clienteles derived from market imperfections such as …

determinants of dividend policy. Using a database of 312 companies we examine the cash dividends paid by public non …, leverage, relations with the banks, cash holdings, growth and ownership determine dividends. The results show that dividend …

, investment opportunities set, size, and profitability towards the dividend policy. This study employs the corporate data from … result shows that only life cycle stage of the company and its profitability are influential towards the dividend policy. The …

-sensitive depositors (institutional investors) are targets of dividend signaling by banks. We use a unique database of Brazilian banks, for … individuals, which are potential targets of dividend signaling. We also exploit the features of the Brazilian banking system, such …

We test the predictions of dividend signaling models using closed-end equity funds that adopt explicit policies … committing them to pay minimum dividend yields. These policies represent deliberate attempts to reduce share price undervaluation … relative to NAV. Funds that adopt minimum dividend policies experience reductions in their share price discounts, trade at …

This paper examines the effect of institutional ownership on stock volatility, returns, and dividend policy in Egypt …. It also investigates the impact of dividend policy on the direction of the relation between institutional ownership and … on dividend payout ratio. Finally, we show that private institutional ownership significantly increases volatility for …

We study the problem of optimal dividend payments for a company of limited liability whose cash reserves in the absence … of the chain. In this setup, our main purpose is to maximize the expected cumulative discounted dividend payments until …