dividend policy. The evidence suggests that firms with staggered boards are more likely to pay dividends and pay them more … generously than do those with unitary boards. We also show that the impact of staggered boards on dividend payouts is … dividend payouts. Our results are important as they show that certain governance provisions have considerably more influence …

into the future. We hypothesize that religious piety leads to a higher likelihood of dividend payments. We exploit the … variation in religious piety across the U.S. counties and estimate the effect of religion on dividend policy. To draw a causal …

Agency theory suggests that CEOs view dividends unfavorably because dividend payouts deprive them of the free cash flow … dividend-paying firms, a rise in CEO power by one standard deviation reduces the size of dividend payouts by 5.91%. Share …

We contribute to the literature on dividend policy by relaxing Miller and Modigliani's (1961) perfect capital market … dividend payouts by 29%. Our results are consistent with the notion that talented managers, confident in their ability to keep …