IDEAS home Printed from https://ideas.repec.org/a/bla/acctfi/v65y2025i3p2733-2752.html
   My bibliography  Save this article

Regulatory Fragmentation and Dividend Payouts

Author

Listed:
  • Hongkang Xu

Abstract

Using the data sourced from the Federal Register, this study investigates the association between regulatory fragmentation and dividend payouts. I document a negative relation between regulatory fragmentation and both the likelihood and magnitude of dividend payouts. Additional analysis suggests that financial strains resulting from operational adjustments act as a pathway through which regulatory fragmentation impacts corporate payout policies. Furthermore, I find a shift among firms towards favouring more flexible payout mechanisms, such as share repurchases, in complex regulatory environments. The findings clarify the significant challenges posed by regulatory fragmentation, which prompt firms to adapt their payout strategies. By examining how regulatory landscapes influence corporate financial decisions, this study enriches the dividend policy literature and provides vital insights for policymakers regarding the broader economic repercussions of regulatory fragmentation.

Suggested Citation

  • Hongkang Xu, 2025. "Regulatory Fragmentation and Dividend Payouts," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 65(3), pages 2733-2752, September.
    • Handle: RePEc:bla:acctfi:v:65:y:2025:i:3:p:2733-2752
    DOI: 10.1111/acfi.70016
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/acfi.70016
    Download Restriction: no
    File URL: https://libkey.io/10.1111/acfi.70016?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:acctfi:v:65:y:2025:i:3:p:2733-2752. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/aaanzea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.