Lee, Eun Jung; Kim, Sungmin; Jang, Yongwon - In: Journal of derivatives and quantitative studies 30 (2022) 3, pp. 219-244
This paper examines whether long-term foreign investors may force firms to use a costly dividend to mitigate inefficient managerial behavior. The authors also hypothesize that the relation between foreign investment horizons and payout policy depends upon the extent of the corporate governance....