Purpose: The purpose of the paper is to examine the relationship between litigation risk and payout policy. Design/methodology/approach: The authors employ various regression techniques including probit, logit and tobit regression methodologies to study the relationship between litigation risk...

Purpose: The purpose of this paper is to understand the association between litigation risk and working capital management. Design/methodology/approach: The authors employ four different regression techniques (OLS regressions, regressions with industry and time controls, median regressions, and...

Purpose – The purpose of this paper is to reexamine the stock price drifts after open-market stock repurchase announcements by differentiating actual repurchases from repurchase announcements and by controlling for the repurchasing firms’ earnings improvement in the announcement year...

Purpose -The positive relationship between dividend yield and risk-adjusted return, which is called the dividend yield effect, is well documented in the US market. Yet, the drivers of the yield effect are unclear. Some argue this evidence is consistent with the prediction that the investor-level...

Purpose – The positive relationship between dividend yield and risk-adjusted return, which is called the dividend yield effect, is well documented in the US market. Yet, the drivers of the yield effect are unclear. Some argue this evidence is consistent with the prediction that the...