Chinese Abstract:...

In addition to distributing dividends and repurchasing shares, directly distributing cash to shareholders in order to reduce capital is an alternative form of paying out. A firm can alter its capital structure by repurchasing shares or by reducing capital. This paper employs the approach of...

Chinese Abstract:...

Chinese Abstract: Saunders 與 Cornett...

Chinese Abstract:...

Chinese Abstract:...

Liu and Yang (2008) compiled Taiwan's cash dividend distribution data from 2002 to 2006 and found that the period between the ex-dividend date and the payment date is distributed from 6 to 155 days. Furthermore, the dividend-weighted average periods of the whole market are stably increasing....

Parente and Prescott (1993) analyzed cross country economic growth data over the period 1960-1995 and concluded that there is no evidence supporting the existence of poverty trap. In our study we attempt to discuss this issue from the viewpoint of institutional economics. Although we do not...

We study the payout policy of Taiwanese firms over 2009-2011 and collect payout events of three forms: distributing cash dividends, conducting share repurchases and reducing capital. Due to the dominant role of dividends, we focus on four issues pertaining to dividends. The first issue is on the...

Taiwanese regulations mandate strict and detailed guidelines for repurchase programs. This provides us a superb opportunity to examine the corporate behavior by using a comprehensive dataset of more than 3,000 events of Taiwanese corporate repurchase programs from 2000 to 2011. We find that...