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Based on agency theory, we focused on the influence of corporate governance in the dividend policy of large listed … on the performance and risk of listed firms, but the influence of corporate governance on the dividend policy has rarely … been addressed despite the importance of dividends for shareholders and the implications on the free cash-flow, whose …
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of the empirical literature shows that dividend payout ratios are lower in firms with controlling shareholders. We … dividend policy to expropriate minority shareholders …This Article investigates the determinants of dividend policy in firms with concentrated ownership structure. A review …
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In this paper, we analyze the effects of common institutional blockholders (CIBs) on the dividend policies of investee … CIB punishes non-dividend paying investee firms by voting against a large fraction of proposals put forward by firm … management if a larger fraction of the CIB’s other investee firms have paid dividends. Our results suggest that the dividend …
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share classes. Our findings suggest that index membership significantly affects the controlling shareholder’s motivation to …
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This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
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