Lam, Kevin C. K.; Sami, Heibatollah; Zhou, Haiyan - In: China journal of accounting research : CJAR 5 (2012) 3, pp. 199-216
cash dividends and less likely to pay stock dividends. Using firms from an emerging economy (China), we examine whether … significant negative effects on cash dividends, consistent with the signaling effect and the notion of reduced tunneling … firms with higher state ownership tend to pay higher cash dividends and lower stock dividends, while the opposite is true …