Purpose The purpose of this paper is to empirically examine the link between institutional ownership stability and dividend payout ratio. Design/methodology/approach First, the authors estimate the propensity of a firm to pay dividend. Next, the authors perform panel fixed-effect regressions of...

Purpose This paper proposes a framework to identify a pattern in the relationship between firms’ cost structure (i.e. fixed versus variable) and their volatility in stock returns. Design/methodology/approach Our empirical analysis is based on a panel data regression where we use an extended...