Manos, Ronny; Murinde, Victor; Green, Christopher J. - In: International Review of Economics & Finance 21 (2012) 1, pp. 42-56
We invoke theories of dividend policy and the market failure theory of business groups to investigate the impact of group affiliation on the dividend payment decision (to pay or not to pay?) and payout level decision (how much to pay?). We use a large sample of quoted, non-financial, independent...