This paper examines the relationship between large shareholders and dividend payout decisions based on agency theory and investigates whether large shareholders are monitoring effectively. The study uses a panel dataset of 37 non-financial firms listed on the Kuwait Stock Exchange as an emerging...

This paper examines the impact of large shareholders and agency theory on a dividend payout decision. Using firms listed on the Kuwait Stock Exchange as an emerging market, a panel dataset of 37 non-financial firms between 1999 and 2003 is used in the analysis. Random effects probit models are...