Performance pay and catering incentives
Author
Abstract
Suggested Citation
DOI: 10.1016/j.frl.2018.01.008
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Adair Morse & Vikram Nanda & Amit Seru, 2011. "Are Incentive Contracts Rigged by Powerful CEOs?," Journal of Finance, American Finance Association, vol. 66(5), pages 1779-1821, October.
- Malcolm Baker & Jeffrey Wurgler, 2004.
"A Catering Theory of Dividends,"
Journal of Finance,
American Finance Association, vol. 59(3), pages 1125-1165, June.
- Malcolm Baker & Jeffrey Wurgler, 2003. "A Catering Theory of Dividends," NBER Working Papers 9542, National Bureau of Economic Research, Inc.
- Li, Wei & Lie, Erik, 2006. "Dividend changes and catering incentives," Journal of Financial Economics, Elsevier, vol. 80(2), pages 293-308, May.
- Baker, Malcolm & Wurgler, Jeffrey, 2004.
"Appearing and disappearing dividends: The link to catering incentives,"
Journal of Financial Economics, Elsevier, vol. 73(2), pages 271-288, August.
- Malcolm Baker & Jeffrey Wurgler, 2003. "Appearing and Disappearing Dividends: The Link to Catering Incentives," NBER Working Papers 9995, National Bureau of Economic Research, Inc.
- Bennett, Benjamin & Bettis, J. Carr & Gopalan, Radhakrishnan & Milbourn, Todd, 2017. "Compensation goals and firm performance," Journal of Financial Economics, Elsevier, vol. 124(2), pages 307-330.
- Lucian Bebchuk & Alma Cohen & Allen Ferrell, 2009. "What Matters in Corporate Governance?," The Review of Financial Studies, Society for Financial Studies, vol. 22(2), pages 783-827, February.
- Christopher Polk & Paola Sapienza, 2009. "The Stock Market and Corporate Investment: A Test of Catering Theory," The Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 187-217, January.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Gyimah, Daniel & Gyapong, Ernest, 2021. "Managerial entrenchment and payout policy: A catering effect," International Review of Financial Analysis, Elsevier, vol. 73(C).
- Maria Elisabete Duante Neves, 2017. "Payout and Firm's Catering," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 104-132.
- repec:jle:journl:160 is not listed on IDEAS
- Winston Pontoh, 2016. "The Motives behind Dividend Policy," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 29-40.
- repec:ers:journl:v:v:y:2017:i:4:p:104-132 is not listed on IDEAS
- Jiang, Zhan & Kim, Kenneth A. & Lie, Erik & Yang, Sean, 2013. "Share repurchases, catering, and dividend substitution," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 36-50.
- Kumar, Alok & Lei, Zicheng & Zhang, Chendi, 2022. "Dividend sentiment, catering incentives, and return predictability," Journal of Corporate Finance, Elsevier, vol. 72(C).
- repec:jle:journl:161 is not listed on IDEAS
- repec:jle:journl:201 is not listed on IDEAS
- Kulchania, Manoj, 2013. "Catering driven substitution in corporate payouts," Journal of Corporate Finance, Elsevier, vol. 21(C), pages 180-195.
- ElBannan, Mona A., 2020. "Does catering behavior persist? Evidence on dividend sentiment in emerging financial markets," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 350-373.
- Malcolm Baker & Robin Greenwood & Jeffrey Wurgler, 2009.
"Catering through Nominal Share Prices,"
Journal of Finance, American Finance Association, vol. 64(6), pages 2559-2590, December.
- Malcolm Baker & Robin Greenwood & Jeffrey Wurgler, 2008. "Catering Through Nominal Share Prices," NBER Working Papers 13762, National Bureau of Economic Research, Inc.
- Lee, King Fuei, 2011.
"Demographics, dividend clienteles and the dividend premium,"
The Quarterly Review of Economics and Finance, Elsevier, vol. 51(4), pages 368-375.
- Lee, King Fuei, 2010. "Demographics, dividend clienteles and the dividend premium," MPRA Paper 34546, University Library of Munich, Germany.
- Denis, David J. & Osobov, Igor, 2008. "Why do firms pay dividends? International evidence on the determinants of dividend policy," Journal of Financial Economics, Elsevier, vol. 89(1), pages 62-82, July.
- Habib, Ahsan & Hasan, Mostafa Monzur, 2017. "Business strategy, overvalued equities, and stock price crash risk," Research in International Business and Finance, Elsevier, vol. 39(PA), pages 389-405.
- Ashiq Ali & Oktay Urcan, 2012. "Dividend increases and future earnings," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 19(1), pages 12-25.
- Nicolas Aubert, 2016.
"Does the Catering Theory of Dividend Apply to the French Listed Firms?,"
Bankers, Markets & Investors, ESKA Publishing, issue 145, pages 27-38, November-.
- Kamal Anouar & Nicolas Aubert, 2016. "Does the catering theory of dividend apply to the French listed firms?," Post-Print halshs-01401867, HAL.
- Kamal Anouar, 2013. "L'incitation des dirigeants à distribuer de la valeur créée est-elle liée à une prime de dividende positive ?," Working Papers halshs-00796406, HAL.
- Byun, Jinho & Kim, Kihun & Liao, Rose C. & Pan, Carrie, 2021. "The Impact of Investor Sentiment on Catering Incentives around the World," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 71(C).
- Chao, Ching-Hsiang & Huang, Chih-Jen & Ho, Ruey-Jenn & Huang, Hsin-Yi, 2022. "Catering to investors through capital expenditures: Testing assets substitution problem around financing," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
- von Eije, Henk & Megginson, William L., 2008. "Dividends and share repurchases in the European Union," Journal of Financial Economics, Elsevier, vol. 89(2), pages 347-374, August.
- Kamal Anouar & Nicolas Aubert, 2016. "Does the catering theory of dividend apply to the French listed firms?," Working Papers halshs-01401867, HAL.
- Mao Liang Li & Chin Man Chui & Chang Qing Li, 2014. "Dividend, liquidity and firm valuation: evidence from China AB share markets," Applied Financial Economics, Taylor & Francis Journals, vol. 24(9), pages 587-603, May.
- Liu, Chinpiao & Chen, An-Sing, 2015. "Do firms use dividend changes to signal future profitability? A simultaneous equation analysis," International Review of Financial Analysis, Elsevier, vol. 37(C), pages 194-207.
More about this item
Keywords
CEO; Pay for performance; Accounting goals; Catering incentives;All these keywords.
Statistics
Access and download statisticsCorrections
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:eee:finlet:v:27:y:2018:i:c:p:12-22. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.