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A Test Of The Easterbrook Hypothesis Regarding Dividend Payments And Agency Costs

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  • Jeffery A. Born
  • James N. Rimbey

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  • Jeffery A. Born & James N. Rimbey, 1993. "A Test Of The Easterbrook Hypothesis Regarding Dividend Payments And Agency Costs," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 16(3), pages 251-260, September.
    • Handle: RePEc:bla:jfnres:v:16:y:1993:i:3:p:251-260
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    File URL: http://hdl.handle.net/10.1111/j.1475-6803.1993.tb00144.x
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    References listed on IDEAS

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    1. Asquith, Paul & Mullins, David W, Jr, 1983. "The Impact of Initiating Dividend Payments on Shareholders' Wealth," The Journal of Business, University of Chicago Press, vol. 56(1), pages 77-96, January.
    2. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    3. Easterbrook, Frank H, 1984. "Two Agency-Cost Explanations of Dividends," American Economic Review, American Economic Association, vol. 74(4), pages 650-659, September.
    4. Merton H. Miller & Franco Modigliani, 1961. "Dividend Policy, Growth, and the Valuation of Shares," The Journal of Business, University of Chicago Press, vol. 34, pages 411-411.
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    Cited by:

    1. Christian Andres & André Betzer & Inga Bongard & Marc Goergen, 2019. "Dividend policy, corporate control and the tax status of the controlling shareholder," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 46(2), pages 157-189, June.
    2. Filbeck, Greg & Mullineaux, Donald J., 1999. "Agency costs and dividend payments: The case of bank holding companies," The Quarterly Review of Economics and Finance, Elsevier, vol. 39(3), pages 409-418.
    3. Kartal Demirg ne, 2015. "Determinants of Target Dividend Payout Ratio: A Panel Autoregressive Distributed Lag Analysis," International Journal of Economics and Financial Issues, Econjournals, vol. 5(2), pages 418-426.
    4. Mehmet Levent Erdaş & Emel Bachá Sımoes, 2020. "The Relationship between Audit Mechanisms and Dividend Payout Policy within the Framework of Corporate Governance: The Case of Turkey," Journal of Economy Culture and Society, Istanbul University, Faculty of Economics, vol. 62(0), pages 255-284, December.
    5. Amoako-Adu, Ben & Baulkaran, Vishaal & Smith, Brian F., 2014. "Analysis of dividend policy of dual and single class U.S corporations," Journal of Economics and Business, Elsevier, vol. 72(C), pages 1-29.
    6. Zhilan Feng & Chinmoy Ghosh & C. Sirmans, 2007. "CEO Involvement in Director Selection: Implications for REIT Dividend Policy," The Journal of Real Estate Finance and Economics, Springer, vol. 35(4), pages 385-410, November.
    7. Tao Zeng, 2011. "Intercorporate Ownership, Taxes, and Corporate Payout Choices," Accounting Perspectives, John Wiley & Sons, vol. 10(4), pages 265-283, December.
    8. Mehmet Levent Erdaş & Emel Bachá Sımoes, 2020. "The Relationship between Audit Mechanisms and Dividend Payout Policy within the Framework of Corporate Governance: The Case of Turkey," Journal of Economy Culture and Society, Istanbul University, Faculty of Economics, vol. 62(62), pages 255-284, December.
    9. Andres, Christian & Betzer, André & Goergen, Marc, 2011. "Dividend policy, corporate control and tax clienteles: The case of Germany," CFS Working Paper Series 2011/16, Center for Financial Studies (CFS).

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