Dividend policy: Shareholder rights and creditor rights under the impact of the global financial crisis
Author
Abstract
(This abstract was borrowed from another version of this item.)
Suggested Citation
DOI: 10.1016/j.econmod.2017.03.010
Download full text from publisher
To our knowledge, this item is not available for download. To find whether it is available, there are three options:1. Check below whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Other versions of this item:
- Tran, Quoc Trung & Alphonse, Pascal & Nguyen, Xuan Minh, 2017. "Dividend policy: Shareholder rights and creditor rights under the impact of the global financial crisis," Economic Modelling, Elsevier, vol. 64(C), pages 502-512.
References listed on IDEAS
- Eugene F. Fama & Kenneth R. French, 2001.
"Disappearing Dividends: Changing Firm Characteristics Or Lower Propensity To Pay?,"
Journal of Applied Corporate Finance, Morgan Stanley, vol. 14(1), pages 67-79, March.
- Fama, Eugene F. & French, Kenneth R., 2001. "Disappearing dividends: changing firm characteristics or lower propensity to pay?," Journal of Financial Economics, Elsevier, vol. 60(1), pages 3-43, April.
- Eugene F. Fama & Kenneth R. French, "undated". "Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay?."," CRSP working papers 509, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
- Rafael La Porta & Florencio Lopez‐De‐Silanes & Andrei Shleifer, 2006.
"What Works in Securities Laws?,"
Journal of Finance, American Finance Association, vol. 61(1), pages 1-32, February.
- Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, "undated". "What Works in Securities Laws?," Working Paper 19491, Harvard University OpenScholar.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer, 2003. "What Works in Securities Law?," NBER Working Papers 9882, National Bureau of Economic Research, Inc.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2006. "What Works in Securities Laws?," Scholarly Articles 27867135, Harvard University Department of Economics.
- Michael L. Lemmon & Karl V. Lins, 2003.
"Ownership Structure, Corporate Governance, and Firm Value: Evidence from the East Asian Financial Crisis,"
Journal of Finance, American Finance Association, vol. 58(4), pages 1445-1468, August.
- Michael Lemmon & Karl Lins, 2001. "Ownership Structure, Corporate Governance, And Firm Value: Evidence from the East Asian Financial Crisis," William Davidson Institute Working Papers Series 393, William Davidson Institute at the University of Michigan.
- Liang Shao & Chuck C.Y. Kwok & Omrane Guedhami, 2013. "Dividend Policy: Balancing Shareholders' And Creditors' Interests," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 36(1), pages 43-66, January.
- Djankov, Simeon & McLiesh, Caralee & Shleifer, Andrei, 2007.
"Private credit in 129 countries,"
Journal of Financial Economics, Elsevier, vol. 84(2), pages 299-329, May.
- Simeon Djankov & Caralee McLiesh & Andrei Shleifer, 2005. "Private Credit in 129 Countries," NBER Working Papers 11078, National Bureau of Economic Research, Inc.
- Shleifer, Andrei & Djankov, Simeon & McLiesh, Caralee, 2007. "Private credit in 129 countries?," Scholarly Articles 27867134, Harvard University Department of Economics.
- Brockman, Paul & Unlu, Emre, 2009. "Dividend policy, creditor rights, and the agency costs of debt," Journal of Financial Economics, Elsevier, vol. 92(2), pages 276-299, May.
- Byrne, Julie & O’Connor, Thomas, 2012. "Creditor rights and the outcome model of dividends," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(2), pages 227-242.
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Rafael La Porta & Florencio Lopez‐de‐Silanes & Andrei Shleifer & Robert W. Vishny, 2000.
"Agency Problems and Dividend Policies around the World,"
Journal of Finance, American Finance Association, vol. 55(1), pages 1-33, February.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Agency Problems and Dividend Policies Around the World," Harvard Institute of Economic Research Working Papers 1839, Harvard - Institute of Economic Research.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert Vishny, 1998. "Agency Problems and Dividend Policies Around the World," NBER Working Papers 6594, National Bureau of Economic Research, Inc.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert W., 2000. "Agency Problems and Dividend Policies around the World," Scholarly Articles 30747163, Harvard University Department of Economics.
- Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998.
"Law and Finance,"
Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
- Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, "undated". "Law and Finance," Working Paper 19451, Harvard University OpenScholar.
- Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 1997. "Law And Finance," Harvard Institute for International Development (HIID) Papers 294393, Harvard University, Kennedy School of Government.
- Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," Harvard Institute of Economic Research Working Papers 1768, Harvard - Institute of Economic Research.
- Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," NBER Working Papers 5661, National Bureau of Economic Research, Inc.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert W., 1998. "Law and Finance," Scholarly Articles 3451310, Harvard University Department of Economics.
- 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.
- Chuck C Y Kwok & Solomon Tadesse, 2006.
"National culture and financial systems,"
Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 37(2), pages 227-247, March.
- Solomon Tadesse & Chuck Kwok, 2005. "National Culture and Financial Systems," William Davidson Institute Working Papers Series wp884, William Davidson Institute at the University of Michigan.
- Thomas O'Connor & Julie Byrne, 2012. "Shareholder and creditor legal rights and the outcome model of dividends," Economics Department Working Paper Series n225-12.pdf, Department of Economics, National University of Ireland - Maynooth.
- Djankov, Simeon & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2008.
"The law and economics of self-dealing,"
Journal of Financial Economics, Elsevier, vol. 88(3), pages 430-465, June.
- Simeon Djankov & Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2005. "The Law and Economics of Self-Dealing," NBER Working Papers 11883, National Bureau of Economic Research, Inc.
- Lopez-de-Silanes, Florencio & Djankov, Simeon & La Porta, Rafael & Shleifer, Andrei, 2008. "The Law and Economics of Self-dealing," Scholarly Articles 2907526, Harvard University Department of Economics.
- Johnson, Simon & Boone, Peter & Breach, Alasdair & Friedman, Eric, 2000.
"Corporate governance in the Asian financial crisis,"
Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 141-186.
- Simon Johnson & Peter Boone & Alasdair Breach & Eric Friedman, 1999. "Corporate Governance in the Asian Financial Crisis," William Davidson Institute Working Papers Series 297, William Davidson Institute at the University of Michigan.
- Eric Friedman & Simon Johnson & Peter Boone & Alasdair Breach, 1999. "Corporate Governance in the Asian Financial Crisis," Departmental Working Papers 199920, Rutgers University, Department of Economics.
- Sung C. Bae & Kiyoung Chang & Eun Kang, 2012. "Culture, Corporate Governance, And Dividend Policy: International Evidence," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 35(2), pages 289-316, June.
- Gustavo Grullon & Roni Michaely & Bhaskaran Swaminathan, 2002. "Are Dividend Changes a Sign of Firm Maturity?," The Journal of Business, University of Chicago Press, vol. 75(3), pages 387-424, July.
- Ho-Chuan River Huang, 2001. "Bayesian analysis of the dividend behaviour," Applied Financial Economics, Taylor & Francis Journals, vol. 11(3), pages 333-339.
- Litzenberger, Robert H. & Ramaswamy, Krishna, 1979. "The effect of personal taxes and dividends on capital asset prices : Theory and empirical evidence," Journal of Financial Economics, Elsevier, vol. 7(2), pages 163-195, June.
- Mahajan, Arvind & Tartaroglu, Semih, 2008. "Equity market timing and capital structure: International evidence," Journal of Banking & Finance, Elsevier, vol. 32(5), pages 754-766, May.
- DeAngelo, Harry & DeAngelo, Linda & Stulz, Rene M., 2006. "Dividend policy and the earned/contributed capital mix: a test of the life-cycle theory," Journal of Financial Economics, Elsevier, vol. 81(2), pages 227-254, August.
- Mitton, Todd, 2004. "Corporate governance and dividend policy in emerging markets," Emerging Markets Review, Elsevier, vol. 5(4), pages 409-426, December.
- Zheng, Changjun & Ashraf, Badar Nadeem, 2014. "National culture and dividend policy: International evidence from banking," Journal of Behavioral and Experimental Finance, Elsevier, vol. 3(C), pages 22-40.
- Ferris, Stephen P. & Jayaraman, Narayanan & Sabherwal, Sanjiv, 2009. "Catering effects in corporate dividend policy: The international evidence," Journal of Banking & Finance, Elsevier, vol. 33(9), pages 1730-1738, September.
- Kim, Byeong Soo & Maddala, G S, 1992. "Estimation and Specification Analysis of Models of Dividend Behavior Based on Censored Panel Data," Empirical Economics, Springer, vol. 17(1), pages 111-124.
- Pornsit Jiraporn & Jang‐Chul Kim & Young Sang Kim, 2011. "Dividend Payouts and Corporate Governance Quality: An Empirical Investigation," The Financial Review, Eastern Finance Association, vol. 46(2), pages 251-279, May.
- Al-Malkawi, Husam-Aldin Nizar & Bhatti, M. Ishaq & Magableh, Sohail I., 2014. "On the dividend smoothing, signaling and the global financial crisis," Economic Modelling, Elsevier, vol. 42(C), pages 159-165.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Tien Hoang Nguyen, & Xuan Minh Nguyen, & Thi Thu Ha Nguyen, & Quoc Trung Tran, 2017. "Ownership structure and performance of professional service firms in a declining industry: Evidence from Vietnamese securities firms," Business and Economic Horizons (BEH), Prague Development Center, vol. 13(2), pages 142-151, May.
- Nguyen, Thi Tuyet Mai & Tran, Quoc Trung, 2022. "Democracy and dividend policy around the world," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
- Tran, Quoc Trung, 2020. "Creditor protection, shareholder protection and investment efficiency: New evidence," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
- Tran, Quoc Trung, 2021. "Economic policy uncertainty and cost of debt financing: International evidence," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
- Driver, Ciaran & Grosman, Anna & Scaramozzino, Pasquale, 2020. "Dividend policy and investor pressure," Economic Modelling, Elsevier, vol. 89(C), pages 559-576.
- Duygun, Meryem & Guney, Yilmaz & Moin, Abdul, 2018. "Dividend policy of Indonesian listed firms: The role of families and the state," Economic Modelling, Elsevier, vol. 75(C), pages 336-354.
- Nguyen, Thien Hoang & Nguyen, Xuan Minh & Nguyen, Thi Thu Ha & Tran, Quoc Trung, 2017. "Ownership structure and performance of professional service firms in a declining industry: Evidence from Vietnamese securities firms1," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 13(2).
- Quoc Trung Tran, 2020. "Corporate cash holdings and financial crisis: new evidence from an emerging market," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 10(2), pages 271-285, June.
- Tran, Quoc Trung, 2020. "Corruption, agency costs and dividend policy: International evidence," The Quarterly Review of Economics and Finance, Elsevier, vol. 76(C), pages 325-334.
- Tran, Quoc Trung, 2020. "Financial crisis, shareholder protection and cash holdings," Research in International Business and Finance, Elsevier, vol. 52(C).
- Tran, Quoc Trung, 2019. "Economic policy uncertainty and corporate risk-taking: International evidence," Journal of Multinational Financial Management, Elsevier, vol. 52.
- Yusuf Adeneye & Fathyah Hashim & Yusuf Babatunde Rahman & Normaizatul Akma Saidi, 2023. "COVID-19 Dynamics and Financing of Cash Flow Shortages: Evidence from Firm-Level Survey," Capital Markets Review, Malaysian Finance Association, vol. 31(2), pages 23-53.
- Varvara V. Nazarova & Anastasia A. Ivanova, 2022. "Payment to Investors Policy Choice: US Market Research," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 89-107, February.
- DasGupta, Ranjan & Roy, Arup, 2023. "Firm environmental, social, governance and financial performance relationship contradictions: Insights from institutional environment mediation," Technological Forecasting and Social Change, Elsevier, vol. 189(C).
- Shang, Xiaodan & Luo, Chuanjian & Wen, Qian, 2020. "Do Chinese executives reward for luck?," Economic Modelling, Elsevier, vol. 92(C), pages 318-325.
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.- Tran, Quoc Trung, 2020. "Creditor protection, shareholder protection and investment efficiency: New evidence," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
- Tran, Quoc Trung, 2020. "Financial crisis, shareholder protection and cash holdings," Research in International Business and Finance, Elsevier, vol. 52(C).
- Lepetit, L. & Meslier, C. & Strobel, F. & Wardhana, L., 2018.
"Bank dividends, agency costs and shareholder and creditor rights,"
International Review of Financial Analysis, Elsevier, vol. 56(C), pages 93-111.
- L Lepetit & Céline Meslier-Crouzille & F Strobel & Leo Indra Wardhana, 2018. "Bank dividends, agency costs and shareholder and creditor rights," Post-Print hal-03566491, HAL.
- Byrne, Julie & O’Connor, Thomas, 2017.
"Creditor rights, culture and dividend payout policy,"
Journal of Multinational Financial Management, Elsevier, vol. 39(C), pages 60-77.
- Thomas O'Connor & Julie Byrne, 2017. "Creditor rights, culture and dividend payout policy," Economics Department Working Paper Series n277-17.pdf, Department of Economics, National University of Ireland - Maynooth.
- Tran, Quoc Trung, 2020. "Corruption and corporate cash holdings: international evidence," Journal of Multinational Financial Management, Elsevier, vol. 54(C).
- Alzahrani, Mohammed & Lasfer, Meziane, 2012. "Investor protection, taxation, and dividends," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 745-762.
- Nguyen, Thi Tuyet Mai & Tran, Quoc Trung, 2022. "Democracy and dividend policy around the world," The North American Journal of Economics and Finance, Elsevier, vol. 62(C).
- Byrne, Julie & O’Connor, Thomas, 2012. "Creditor rights and the outcome model of dividends," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(2), pages 227-242.
- Thomas O'Connor & Julie Byrne, 2012. "Shareholder and creditor legal rights and the outcome model of dividends," Economics Department Working Paper Series n225-12.pdf, Department of Economics, National University of Ireland - Maynooth.
- Matt Glendening & Inder K. Khurana & Wei Wang, 2016. "The market for corporate control and dividend policies: Cross-country evidence from M&A laws," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 47(9), pages 1106-1134, December.
- Liang Shao & Chuck C.Y. Kwok & Omrane Guedhami, 2013. "Dividend Policy: Balancing Shareholders' And Creditors' Interests," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 36(1), pages 43-66, January.
- Nilakshi Borah & Hui Liang James & Jung Chul Park, 2020. "Does CEO inside debt compensation benefit both shareholders and debtholders?," Review of Quantitative Finance and Accounting, Springer, vol. 54(1), pages 159-203, January.
- Byrne, Julie & O'Connor, Thomas, 2017.
"How do creditors respond to disclosure quality? Evidence from corporate dividend payouts,"
Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 49(C), pages 154-172.
- Thomas O'Connor & Julie Byrne, 2017. "How do creditors respond to disclosure quality? Evidence from corporate dividend payouts," Economics Department Working Paper Series n278-17.pdf, Department of Economics, National University of Ireland - Maynooth.
- Attig, Najah & El Ghoul, Sadok & Guedhami, Omrane & Zheng, Xiaolan, 2021. "Dividends and economic policy uncertainty: International evidence," Journal of Corporate Finance, Elsevier, vol. 66(C).
- Tran, Quoc Trung, 2020. "Corruption, agency costs and dividend policy: International evidence," The Quarterly Review of Economics and Finance, Elsevier, vol. 76(C), pages 325-334.
- Liu, Chunyan & Uchida, Konari & Yang, Yufeng, 2014. "Controlling shareholder, split-share structure reform and cash dividend payments in China," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 339-357.
- Goyal, Abhinav & Jategaonkar, Shrikant P. & Muckley, Cal B., 2020. "Why do privatized firms pay higher dividends?," Journal of Corporate Finance, Elsevier, vol. 60(C).
- Jabbouri, Imad, 2016. "Determinants of corporate dividend policy in emerging markets: Evidence from MENA stock markets," Research in International Business and Finance, Elsevier, vol. 37(C), pages 283-298.
- Tran, Quoc Trung, 2021. "Local corruption and dividend policy: Evidence from Vietnam," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 195-205.
- Paul McGuinness & Kevin Lam & João Vieito, 2015. "Gender and other major board characteristics in China: Explaining corporate dividend policy and governance," Asia Pacific Journal of Management, Springer, vol. 32(4), pages 989-1038, December.
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:hal:journl:hal-03590547. 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: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.