This study examines the link between financial reporting quality and dividend payout across 123 countries. We find that financial reporting quality increases dividend payout after controlling for firm and country specifics. We also investigate different channels that mediate the relation between...

This paper examines the relationship between dividend payout and economic policy uncertainty (EPU) using a sample from listed firms in the Tokyo Stock Exchange. Our findings suggest that higher EPU drives increase in dividend payout. This evidence is robust to using alternative dividend payout...

We examine the relationship between financial reporting quality and block ownership by institutional investors. This relation is vital given the tremendous growth of institutional ownership and the significant influence of large institutional blockholders on financial reporting quality. Our...

The paper finds that the debt deficit and window of opportunities significantly affect firms' financing decisions in developing Asia. Firms tend to increase the probability of issuing pure debt rather than other financing sources if room to the optimal level of debt is still available. While an...

The process firms use to choose their capital structures is explained by different corporate finance theories in which trade-off and pecking order are the two most popular hypotheses. Testing these two models will help to determine whether a target debt ratio exists, and if so, how rapidly firms...

The paper considers direct and indirect impacts of bank concentration, property rights and financial freedom on corporate leverage in 12 Asian developing countries from 2000 to 2013. Our result shows that bank concentration has a directly negative relationship with leverage in these countries...