Family firms, as a unique organizational form, are associated with distinct finance, accounting, and tax behaviors. Prior research indicates that heterogeneity among family firms is linked to significant variation concerning these outcomes. However, the scope of dissimilarities, their empirical...

The insights of Modigliani and Miller (Am Econ Rev 53:433–443, 1963) and Miles and Ezzell (15:719–730, https://doi.org/10.2307/2330405 , 1980) on the cost of capital of firms rank among the most important results in financial theory. The underlying assumptions regarding the financial policy,...

This study examines whether the CEO uses share repurchases to sell her equity grants at inflated stock prices, a concern regularly voiced in politics and media. We find that the timing of buyback programs and equity compensation, i.e., the granting, vesting, and selling of equity, is largely...

The purpose of this paper is to identify the factors influencing the level of dividend payments in the companies listed on the Warsaw Stock Exchange in 1998-2017 as well as to provide empirical evidence for their significance, using a panel data approach. The object of research comprised the...

Using a linear model, previous studies on the ownership concentration-firm performance nexus have produced inconsistent empirical findings and found no consensus concerning the measure of agency conflict control mechanism. Using a non-monotonic model and a combination of agency conflict control...

This paper studies the impact of exogenous export demand shocks on firms' dividend policy using firm specific real exchange rate variation as instrumental variable. IV exclusion restriction is plausibly satisfied because real exchange rate shocks were unanticipated -partly explained because of...

This paper studies the impact of banks' dividend restrictions on the behavior of their institutional investors. Using an identification strategy that relies on the within investor variation and a difference in difference setup, I find that funds permanently decrease their ownership shares at...

Wohnungsgenossenschaften dienen nicht primär der Gewinnerzielung und -ausschüttung, sondern bilden Rücklagen und vergrößern ihren Wohnungsbestand, von dessen günstiger Nutzung die Genossen profitieren. Dies kann mit Stiftungen verglichen werden und führt zu verschiedenen hier diskutierten...

Empirically, financialisation analysis can be addressed from either a macroeconomic or micr oeconomic perspective. In aggregate terms, the former implies observing the growing influence exerted by financial transactions, overly dominant financial markets and alterations to industrial economy...

Do the persistence-predictability of earnings and reputation, affects dividend policy? This study provides new elements to enrich the debate around the question. To this end, a data panel of companies listed in Latin America is structured with financial information obtained in the Datastream...