This study looks at the influence of corporate governance and liquidity on dividend policy in utilities, infrastructure transportation sector companies listed Indonesia Stock Exchange 2018-2020. Corporate plays a role protecting interests business people company related to dividends. uses secondary data with purposive sampling technique produces 14 42 research data. Descriptive analysis methods...

It is widely held that for tax reasons corporate shareholders are the only shareholders that prefer dividends to capital gains. This has led to clientele models where corporate blockholders migrate to firms paying dividends and use their voting power to increase dividends in these firms. We use panel data and trades of large blocks of stock to investigate these propositions. Although one-third ...

This paper divulges the long term relationship among earning, investment and dividends from 2000 to 2011. Empirical evidence was collected to explore the Modigliani and miller theory of dividend irrelevance. Data was collected from all the sectors but it was ensured that firms did not have negative data of earnings as it is earnings which are either transformed into investment or dividends. Mul...

T he U.S. government subjects corporate dividends to double taxation: It first taxes corporate income, then taxes the same income again when shareholders receive dividends paid out of corporate income. Until 2003, individuals were taxed on dividend income at the same rates as on other forms of income, resulting in overall taxes on dividends much higher than those in most other countries (PriceW...

We present a cashow based model of corporate debt valuation that incorporates two novel features. First, we allow for the separation and optimal determination of the rm's debt-service and dividend policies; in particular, the rm is allowed to maintain cash reserves to meet future debt obligations. Second, our model admits the possibility that raising resources through issuance of new equity cou...

This paper examines the motivation of dividend payout policies for Chinese listed firms before and after Split Share Structure Reform in China from corporate governance-related viewpoint. Analysis was carried out using panel data with random effect a sample on A-share market period 2001–2004 (before reform) 2014–2017 (after reform). It is found that (1) incentive tunnelling via by controlling s...

Abstract We examine whether dividends serve as substitutes or complements to accounting information in firm valuation. Consistent with substituting for earnings information, we find that dividend paying firms have 11%–15% lower response coefficients (ERCs) than non-payers. more substitution when the provides a stronger signal of permanent earnings: is less likely cut dividend, fund out rather c...

We study a cooperation structure in which the feasible coalitions are those belonging to a partition closure system. First, we develop the relation between the dividends of Harsanyi in the restricted game and the worth function in the original game. Next, we obtain an method for computing the Shapley and Banzhaf values of the closure-restricted games using the dividends formula. Finally, we ana...

Surprise! I bet you thought Moody’s Investors Service rated only bonds and other arcane Wall Street instruments. In fact, Moody’s also evaluates specific sectors of our economy and renders its famous score on a host of individual pharmaceutical companies. I think you’ll find my quick review of Moody’s outlook on the U.S. drug industry to be of interest.1 It should come as no shock to us that Mo...