This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax … preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. While the … concentration of control does not have an effect on the dividend payout, there is strong evidence that the type of controlling …

This paper studies the impact of the concentration of control, the type of controlling shareholder and the dividend tax … preference of the controlling shareholder on dividend policy for a panel of 220 German firms over 1984-2005. While the … concentration of control does not have an effect on the dividend payout, there is strong evidence that the type of controlling …

) and dividend policy in Poland. Our empirical approach, constructs measures of the quality of the corporate governance for … the TDI or its subindices leads to an increase in the dividend-to-cash-flow ratio. These results support the hypothesis … companies have a higher dividend payout ratio, while riskier and more indebted firms prefer to pay lower dividends. …

effects considered in signaling games. We show that paying out free cash flow, either as a dividend or via repurchasing shares … dividend as long as capital gains are not heavily discriminated by taxation in relation to dividends. The positive price effect … of dividends can be enhanced if the firm implements a dividend reinvestment plan (DRIP). …

(respectively dividend-price ratio) is stochastic and our model represents excess volatility. We discuss whether our assumptions are … depict this fact. In this paper we incorporate excess volatility into a simple DCF model by considering an autoregressive …

This paper reconsiders the issue of share price reactions to dividend announcements. Previous papers rely almost … exclusively on a naive dividend model in which the dividend change is used as a proxy for the dividend surprise. We use the … difference between the actual dividend and the analyst consensus forecast as obtained from I/B/E/S as a proxy for the dividend …

This paper reconsiders the issue of share price reactions to dividend announcements. Previous papers rely almost … exclusively on a naive dividend model in which the dividend change is used as a proxy for the dividend surprise. We use the … difference between the actual dividend and the analyst consensus forecast as obtained from I/B/E/S as a proxy for the dividend …