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Shareholder Preferences and Dividend Policy

Citations

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Cited by:

  1. Komlan Sedzro, 2010. "A Unifying Approach For Comparing Onetime Payouts And Recurring Dividends," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 4(2), pages 141-154.
  2. Alzahrani, Mohammed & Lasfer, Meziane, 2012. "Investor protection, taxation, and dividends," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 745-762.
  3. Colonnello, Stefano & Curatola, Giuliano & Gioffré, Alessandro, 2019. "Pricing sin stocks: Ethical preference vs. risk aversion," European Economic Review, Elsevier, vol. 118(C), pages 69-100.
  4. repec:dau:papers:123456789/15219 is not listed on IDEAS
  5. Thomas McCluskey & Aoife Broderick & Amanda Boyle & Bruce Burton & David Power, 2010. "Evidence on Irish financial analysts' and fund managers' views about dividends," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 2(2), pages 80-99, June.
  6. Golbe, Devra L. & Nyman, Ingmar, 2013. "How do share repurchases affect ownership concentration?," Journal of Corporate Finance, Elsevier, vol. 20(C), pages 22-40.
  7. Lauren A. Cooper & Jimmy F. Downes & Ramesh P. Rao, 2018. "Short term real earnings management prior to stock repurchases," Review of Quantitative Finance and Accounting, Springer, vol. 50(1), pages 95-128, January.
  8. Auerbach, Alan J. & Hassett, Kevin A., 2003. "On the marginal source of investment funds," Journal of Public Economics, Elsevier, vol. 87(1), pages 205-232, January.
  9. Andrea M. Buffa & Giovanna Nicodano, 2008. "Should Insider Trading be Prohibited when Share Repurchases are Allowed?," Review of Finance, European Finance Association, vol. 12(4), pages 735-765.
  10. Franklin Allen & Antonio E. Bernardo & Ivo Welch, 2000. "A Theory of Dividends Based on Tax Clienteles," Journal of Finance, American Finance Association, vol. 55(6), pages 2499-2536, December.
  11. Bechman, Ken L. & Raaballe, Johannes, 2006. "Taxable Cash Dividends," Working Papers 2005-4, Copenhagen Business School, Department of Finance.
  12. Cuong Nguyen, 2019. "The asymmetry in firms’ mechanisms of cash holdings adjustments: evidence from the G-5 economies," Review of Quantitative Finance and Accounting, Springer, vol. 53(2), pages 429-463, August.
  13. George Drymiotes & Konduru Sivaramakrishnan, 2021. "Strategic Director Appointments," Journal of Accounting Research, Wiley Blackwell, vol. 59(4), pages 1303-1347, September.
  14. Francois Gourio & Jianjun Miao, 2011. "Transitional Dynamics of Dividend and Capital Gains Tax Cuts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(2), pages 368-383, April.
  15. François Gourio & Jianjun Miao, 2010. "Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(1), pages 131-168, January.
  16. H.Kent Baker & Gary E. Powell & E.Theodore Veit, 2002. "Revisiting the dividend puzzle," Review of Financial Economics, John Wiley & Sons, vol. 11(4), pages 241-261.
  17. Nishant B. Labhane & Jitendra Mahakud, 2018. "Dividend Smoothing and Business Groups: Evidence from Indian Companies," Global Business Review, International Management Institute, vol. 19(3), pages 690-706, June.
  18. Nekat, Kai & Nippel, Peter, 2007. "The impact of a firm's payout policy on stock prices and shareholders' wealth in an inefficient market," Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel 619, Christian-Albrechts-Universität zu Kiel, Institut für Betriebswirtschaftslehre.
  19. Beker, Pablo F., 2007. "Market Selection And Payout Policy Under Majority Rule," Economic Research Papers 269763, University of Warwick - Department of Economics.
  20. du Jardin, Philippe & Séverin, Eric, 2011. "Dividend policy," MPRA Paper 44382, University Library of Munich, Germany.
  21. Henry, Darren, 2011. "Ownership structure and tax-friendly dividends," Journal of Banking & Finance, Elsevier, vol. 35(10), pages 2747-2760, October.
  22. Gunnar Bårdsen & Jurgen Doornik & Jan Tore Klovland, 2004. "A European-type wage equation from an American-style labor market: Evidence from a panel of Norwegian manufacturing industries in the 1930s," Working Paper 2004/8, Norges Bank.
  23. David, Thomas & Ginglinger, Edith, 2016. "When cutting dividends is not bad news: The case of optional stock dividends," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 174-191.
  24. Redding, Lee S., 1997. "Firm Size and Dividend Payouts," Journal of Financial Intermediation, Elsevier, vol. 6(3), pages 224-248, July.
  25. Burkart, Mike & Miglietta, Salvatore & Ostergaard, Charlotte, 2017. "Why Do Boards Exist? Governance Design in the Absence of Corporate Law," CEPR Discussion Papers 12147, C.E.P.R. Discussion Papers.
  26. William Rees, 1996. "The impact of open market equity repurchases on UK equity prices," The European Journal of Finance, Taylor & Francis Journals, vol. 2(4), pages 353-370.
  27. repec:bof:bofrdp:urn:nbn:fi:bof-201508131351 is not listed on IDEAS
  28. Jayesh Kumar, 2006. "Corporate Governance and Dividends Payout in India," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 5(1), pages 15-58, April.
  29. Fuller, Kathleen P. & Goldstein, Michael A., 2011. "Do dividends matter more in declining markets?," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 457-473, June.
  30. DeLisle, R. Jared & Morscheck, Justin D. & Nofsinger, John R., 2020. "Share repurchases and wealth transfer among shareholders," The Quarterly Review of Economics and Finance, Elsevier, vol. 76(C), pages 368-378.
  31. Douglas, Alan V. S., 2001. "Managerial replacement and corporate financial policy with endogenous manager-specific value," Journal of Corporate Finance, Elsevier, vol. 7(1), pages 25-52, March.
  32. Huang, Chia-Wei, 2015. "Takeover vulnerability and the credibility of signaling: The case of open-market share repurchases," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 405-417.
  33. Auerbach, Alan J., 2002. "Taxation and corporate financial policy," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 3, chapter 19, pages 1251-1292, Elsevier.
  34. Bernhardt, Dan & Douglas, Alan & Robertson, Fiona, 2005. "Testing dividend signaling models," Journal of Empirical Finance, Elsevier, vol. 12(1), pages 77-98, January.
  35. Szomko Natalia, 2015. "Investor Reaction to Information on Final Dividend Payouts on the Warsaw Stock Exchange – an Event Study Analysis," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 45(1), pages 127-146, March.
  36. Oded, Jacob, 2009. "Optimal execution of open-market stock repurchase programs," Journal of Financial Markets, Elsevier, vol. 12(4), pages 832-869, November.
  37. Manoj Subhash Kamat & Manasvi M. Kamat, 2016. "On Choosing an Optimal Dividend Policy in India: A Test of Substitution Hypothesis, 1999–2016," Emerging Economy Studies, International Management Institute, vol. 2(2), pages 199-222, November.
  38. Oded, Jacob, 2011. "Stock repurchases: How firms choose between a self tender offer and an open-market program," Journal of Banking & Finance, Elsevier, vol. 35(12), pages 3174-3187.
  39. repec:zbw:bofrdp:urn:nbn:fi:bof-201508131351 is not listed on IDEAS
  40. Espahbodi, Reza & Liu, Nan & Westbrook, Amy, 2016. "The effects of the 2006 SEC executive compensation disclosure rules on managerial incentives," Journal of Contemporary Accounting and Economics, Elsevier, vol. 12(3), pages 241-256.
  41. Jason M. DeBacker, 2011. "Capital Taxes with Real and Financial Frictions," Working Papers 201402, Middle Tennessee State University, Department of Economics and Finance.
  42. Bassam Jaara & Mahmoud Dalou, 2018. "Dividend Announcements of Banking Sector in Gulf Area; Pre, During and Post the Recent Global Financial Crisis," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(6), pages 20-35, June.
  43. 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.
  44. Amin, Abu S. & Dutta, Shantanu & Saadi, Samir & Vora, Premal P., 2015. "Institutional shareholding and information content of dividend surprises: Re-examining the dynamics in dividend-reappearance era," Journal of Corporate Finance, Elsevier, vol. 31(C), pages 152-170.
  45. Anzhela Knyazeva & Diana Knyazeva & Leonard Kostovetsky, 2018. "Investor heterogeneity and trading," European Financial Management, European Financial Management Association, vol. 24(4), pages 680-718, September.
  46. Jeon, Jin Q. & Lee, Cheolwoo & Moffett, Clay M., 2011. "Effects of foreign ownership on payout policy: Evidence from the Korean market," Journal of Financial Markets, Elsevier, vol. 14(2), pages 344-375, May.
  47. Louis, Henock & White, Hal, 2007. "Do managers intentionally use repurchase tender offers to signal private information? Evidence from firm financial reporting behavior," Journal of Financial Economics, Elsevier, vol. 85(1), pages 205-233, July.
  48. Duqi, Andi & Jaafar, Aziz & Warsame, Mohammed H., 2020. "Payout policy and ownership structure: The case of Islamic and conventional banks," The British Accounting Review, Elsevier, vol. 52(1).
  49. Brockman, Paul & Tresl, Jiri & Unlu, Emre, 2014. "The impact of insider trading laws on dividend payout policy," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 263-287.
  50. Gao, Lei & Zhang, Joseph H., 2015. "Firms’ earnings smoothing, corporate social responsibility, and valuation," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 108-127.
  51. Alice Bonaimé & Jarrad Harford & Jarrad Harford, 2020. "Payout Policy Trade-Offs and the Rise of 10b5-1 Preset Repurchase Plans," Management Science, INFORMS, vol. 66(6), pages 2762-2786, June.
  52. Dosoung Choi & Sheng-Syan Chen, 1997. "The Differential Information Conveyed By Share Repurchase Tender Offers And Dividend Increases," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 20(4), pages 529-543, December.
  53. Hodrick, Laurie Simon, 1999. "Does stock price elasticity affect corporate financial decisions?," Journal of Financial Economics, Elsevier, vol. 52(2), pages 225-256, May.
  54. Chris Mitchell, 2019. "The Lock-In Effect and the Corporate Payout Puzzle," ISER Discussion Paper 1070r, Institute of Social and Economic Research, Osaka University, revised Aug 2021.
  55. Fenn, George W. & Liang, Nellie, 2001. "Corporate payout policy and managerial stock incentives," Journal of Financial Economics, Elsevier, vol. 60(1), pages 45-72, April.
  56. Yuan‐Teng Hsu & Chia‐Wei Huang, 2020. "Why do stock repurchases change over time?," European Financial Management, European Financial Management Association, vol. 26(4), pages 938-957, September.
  57. Kumar, Praveen & Langberg, Nisan & Oded, Jacob & Sivaramakrishnan, K., 2017. "Voluntary disclosure and strategic stock repurchases," Journal of Accounting and Economics, Elsevier, vol. 63(2), pages 207-230.
  58. Jain, Ravi, 2007. "Institutional and individual investor preferences for dividends and share repurchases," Journal of Economics and Business, Elsevier, vol. 59(5), pages 406-429.
  59. Hyo Kim & Hoje Jo & Soon Yoon, 2013. "Controlling shareholders’ opportunistic use of share repurchases," Review of Quantitative Finance and Accounting, Springer, vol. 41(2), pages 203-224, August.
  60. Francis, Bill & Hasan, Iftekhar & Li, Lingxiang, 2015. "Evidence for the existence of downward real earnings management," Bank of Finland Research Discussion Papers 13/2015, Bank of Finland.
  61. de Jong, A. & van Dijk, R. & Veld, C.H., 2000. "The Dividend and Share Repurchase Policies of Canadian Firms : Empirical Evidence based on New Research Design," Other publications TiSEM 46dc60fc-de95-4aaa-9e3c-f, Tilburg University, School of Economics and Management.
  62. Francis, Bill & Hasan, Iftekhar & Li, Lingxiang, 2015. "Evidence for the existence of downward real earnings management," Research Discussion Papers 13/2015, Bank of Finland.
  63. Renneboog, Luc & Trojanowski, Grzegorz, 2011. "Patterns in payout policy and payout channel choice," Journal of Banking & Finance, Elsevier, vol. 35(6), pages 1477-1490, June.
  64. Jayesh Kumar, 2004. "Corporate Governance and Dividends Payout in India," Finance 0409007, University Library of Munich, Germany.
  65. Henock Louis & Amy X. Sun & Hal White, 2010. "Insider Trading after Repurchase Tender Offer Announcements: Timing versus Informed Trading," Financial Management, Financial Management Association International, vol. 39(1), pages 301-322, March.
  66. de Jong, Abe & van Dijk, Ronald & Veld, Chris, 2003. "The dividend and share repurchase policies of Canadian firms: empirical evidence based on an alternative research design," International Review of Financial Analysis, Elsevier, vol. 12(4), pages 349-377.
  67. Dan W. French & S. McKay Price, 2018. "Depreciation-Related Capital Gains, Differential Tax Rates, and the Market Value of Real Estate Investment Trusts," The Journal of Real Estate Finance and Economics, Springer, vol. 57(1), pages 43-63, July.
  68. Khan, Kanwal Iqbal & Ghafoor, Muhammad Mudassar & Sheeraz, Muhammad & Mahmood, Shahid, 2018. "Pay or not to Pay Dividends: Company Policy and Investor Expectations," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 7(1), pages 137-157.
  69. López-Iturriaga, Félix J. & Santana Martín, Domingo Javier, 2019. "The payout policy of politically connected firms: Tunnelling or reputation?," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).
  70. Chemmanur, Thomas J. & Hu, Gang & Li, Yingzhen & Xie, Jing, 2021. "Institutional trading, information production, and forced CEO turnovers," Journal of Corporate Finance, Elsevier, vol. 67(C).
  71. Chris Mitchell, 2019. "The Lock-In Effect and the Corporate Payout Puzzle," ISER Discussion Paper 1070, Institute of Social and Economic Research, Osaka University.
  72. Ilona Babenko & Yuri Tserlukevich & Pengcheng Wan, 2020. "Is Market Timing Good for Shareholders?," Management Science, INFORMS, vol. 66(8), pages 3542-3560, August.
  73. Baker, H. Kent & Powell, Gary E. & Veit, E. Theodore, 2002. "Revisiting the dividend puzzle: Do all of the pieces now fit?," Review of Financial Economics, Elsevier, vol. 11(4), pages 241-261.
  74. Azhagaiah Ramachandran & Veeramuthu Packkirisamy, 2010. "The Impact of Firm Size on Dividend Behaviour: A Study With Reference to Corporate Firms across Industries in India," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 8(1), pages 049-078.
  75. Holmen, Martin & Knopf, John D. & Peterson, Stefan, 2008. "Inside shareholders' effective tax rates and dividends," Journal of Banking & Finance, Elsevier, vol. 32(9), pages 1860-1869, September.
  76. Jacob, Martin, 2010. "Taxation, Dividends, and Share Repurchases: Taking Evidence Global," Working Paper Series, Center for Fiscal Studies 2010:10, Uppsala University, Department of Economics.
  77. Jeon, Jin Q. & Ryoo, Juyoun, 2013. "How do foreign investors affect corporate policy?: Evidence from Korea," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 52-65.
  78. Braun, Matías & Rubio, Germán & Tigero, Tamara, 2023. "Payout policy around the world," International Review of Financial Analysis, Elsevier, vol. 89(C).
  79. Unsal, Omer & Brodmann, Jennifer, 2019. "Workplace environment and payout policy," Journal of Economics and Business, Elsevier, vol. 106(C).
  80. Jared DeLisle, R. & Morscheck, J.D. & Nofsinger, John R., 2014. "Share repurchases and institutional supply," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 216-230.
  81. Chinmoy Ghosh & Le Sun, 2014. "Agency Cost, Dividend Policy and Growth: The Special Case of REITs," The Journal of Real Estate Finance and Economics, Springer, vol. 48(4), pages 660-708, May.
  82. Francois Gourio & Jianjun Miao, "undated". "Transitional Dynamics of Dividend Tax Reform," Boston University - Department of Economics - Working Papers Series wp2008-021, Boston University - Department of Economics.
  83. Chen, Ni-Yun & Liu, Chi-Chun, 2019. "Open-market block share repurchases probability, frequency and timing," Pacific-Basin Finance Journal, Elsevier, vol. 53(C), pages 278-296.
  84. Utpal Bhattacharya & Stacey E. Jacobsen, 2016. "The Share Repurchase Announcement Puzzle: Theory and Evidence," Review of Finance, European Finance Association, vol. 20(2), pages 725-758.
  85. repec:zbw:bofrdp:2015_013 is not listed on IDEAS
  86. Wesson, N. & Smit, E.v.d.M. & Kidd, M. & Hamman, W.D., 2018. "Determinants of the choice between share repurchases and dividend payments," Research in International Business and Finance, Elsevier, vol. 45(C), pages 180-196.
  87. S. Shchurina V. & E. Mustafina F. & С. Щурина В. & Э Мустафина Ф., 2018. "Дивидендная политика высокотехнологичных компаний в условиях цифровой экономики // The Dividend Policy of High-Tech Companies in the Digital Economy," Экономика. Налоги. Право // Economics, taxes & law, ФГОБУ "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 11(2), pages 90-102.
  88. Anand Mohan Goel, 2003. "Why Do Firms Smooth Earnings?," The Journal of Business, University of Chicago Press, vol. 76(1), pages 151-192, January.
  89. de Jong, A. & van Dijk, R. & Veld, C.H., 2001. "The Dividend and Share Repurchase Policies of Canadian Firms," ERIM Report Series Research in Management ERS-2001-88-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
  90. Javakhadze, David & Ferris, Stephen P. & Sen, Nilanjan, 2014. "An international analysis of dividend smoothing," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 200-220.
  91. Bartram, Söhnke M. & Brown, Philip & How, Janice C.Y. & Verhoeven, Peter, 2007. "Agency Conflicts and Corporate Payout Policies: A Global Study," MPRA Paper 23244, University Library of Munich, Germany.
  92. Wang, Jin-Ying, 2023. "Tax clientele and share repurchase execution," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 168-176.
  93. Johannes A. Skjeltorp & Bernt Arne Ødegaard, 2004. "The ownership structure of repurchasing firms," Working Paper 2004/7, Norges Bank.
  94. Francois Gourio & Jianjun Miao, 2011. "Transitional Dynamics of Dividend and Capital Gains Tax Cuts," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(2), pages 368-383, April.
  95. Sabur Mollah, 2011. "Do emerging market firms follow different dividend policies?," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 28(2), pages 118-135, June.
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