Dividend Theory and Empirical Evidence: A Theoretical Perspective
نویسندگان
چکیده
منابع مشابه
The Dividend Initiation Decision : Theory and Evidence
This paper develops and tests a dynamic, sequential equilibrium model of corporate cash payout policy that endogenizes a firm's dividend initiation decision, and its extreme reluctance to subsequently cut dividends in a sequential equilibrium. After payment of dividends, all excess cash is disgorged via stock repurchases that elicit no price reactions. The theoretical model generates results co...
متن کاملOptimal Capital Structure and Dividend Policy for Control Efficient Family Business Groups: Theory and Empirical Evidence
I present a theory of the optimal capital structure and dividend policy for family business groups expanding in countries where the private control benefit is substantial and the market for corporate control is active. Here, issuing debt overcomes the limited dilution capacity of equity, but reduces the expected control benefit by increasing the probability of default. When family business grou...
متن کاملWho Cuts Dividends First? Theory and Evidence from Dividend Reductions
This paper examines dividend reduction timing at the industry level, asking what firm types choose to reduce their dividends earlier in a dividend reducing cycle than others. Theory is proposed that suggests that higher quality firms will reduce dividends sooner to start rebuilding the firm‟s profitability, while lower quality firms delay reducing their dividends until they must. This paper con...
متن کاملEmpirical and theoretical evidence of economic chaos
Empirical and theoretical investigations of chaotic phenomena in macroeconomic systems are presented. Basic issues and techniques in testing economic aggregate movements are discussed. Evidence of low dimensional strange attractors is found in several empirical monetary aggregates. A continuous time deterministic model with delayed feedback is proposed to describe the monetary growth. Phase tra...
متن کاملTheoretical Background of Dividend Taxation
The article deals with dividends and their distribution from investors from a theoretical point of view. Some studies try to analyzed the reaction of the market on the dividend announcement and found out the change of dividend policy is associated with abnormal returns around the dividend announcement date. Another researches directly questioned the investors about their dividend preference and...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: journal of accounting finance and auditing studies (JAFAS)
سال: 2020
ISSN: 2149-0996
DOI: 10.32602/jafas.2020.020