کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
982367 1480474 2007 21 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Largest shareholder and dividend policy around the world
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Largest shareholder and dividend policy around the world
چکیده انگلیسی

This paper examines the interaction between the largest shareholder and dividend policy in a sample of 8,279 listed firms drawn from 37 countries. We find that firms are more likely to pay dividends when profitability is high, debt is low, investment opportunities are limited or when the largest shareholder is not an insider. Further, the magnitude of dividend payout tends to be smaller when the largest shareholder is either an insider or a financial institution. It is also apparent that largest shareholding and dividend payout are related and that, consistent with the extant literature, legal system does matter in dividend policy decisions.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Quarterly Review of Economics and Finance - Volume 47, Issue 5, December 2007, Pages 667–687
نویسندگان
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