explanation for the heretofore puzzling finding that, following the unprecedented 2003 reduction in dividend tax rates, non-dividend …-paying firms outperformed dividend-paying firms. Not surprisingly, we find that non-dividend-paying firms are more financial … constrained than dividend-paying firms are. When a firm's financial constraint and dividend choice are jointly considered, we find …

The present study aims to examine the relationship between dividend policy and earnings management by explicitly … from 2009 to 2018. This study uses fixed- and random effect models as econometric techniques. Dividend policy is measured … with dividend yield, payout ratio, large and small dividend payment status. Earnings management is measured with …

ownership of publicly listed firms and dividend policy. Using a worldwide sample of 1,906 publicly listed firms that were … government shareholder are sufficiently binding, its ownership is positively associated with dividend payments. Our results are … institution-based perspective on the dividend policies of firms with government ownership …