This paper explores the relationship between employee rights and dividend policy across countries. Using labor right … index as a proxy for agency costs of employees, we test the association between labor rights and dividend policies across … dividend payment amounts. This relationship is reinforced to be more salient in civil countries where shareholder rights are …

This paper examines the dividend-collecting firms and negative dividend payers listed on Istanbul Stock Exchange (ISE …) from 1991 through 2006. Turkey used to be a unique country in terms of 50% mandatory cash dividend payment application, and … this policy pushed some firms to create other ways to overcome liquidity problems. Among the dividend-paying firms, some …

Dividend initiations are an economically significant event that has important implications for a firm's future … dividend decision cautiously. We compare the long run performance of IPO firms that initiated a dividend with that of similarly …-matched non-payers, and find robust results that firms which initiated a dividend perform significantly better up to five years …

This paper applies Johansen's vector error-correction model (VECM) to investigate for the existence of the dividend … Granger-causality test. Our findings show that a unit shock increase in dividend payout leads to a permanent increase in … future earnings over time, thus supporting the existence of informational/signaling content in dividend payout in the …

We document the cross-sectional properties of corporate dividend smoothing policies and relate them to extant theories …. We find that younger, smaller firms, firms with low dividend yields, more volatile earnings and returns, and firms with … governance and greater institutional holdings smooth more. We also document that dividend smoothing has steadily increased over …

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

.We determine the optimal dividend and (unconstrained) capital injection strategy when jumps are hyperexponential. This strategy … happens to be either a dividend barrier strategy without capital injections, or another dividend barrier strategy with forced … injections when the surplus is null to prevent ruin. The latter is also shown to be the optimal dividend and capital injection …

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 …