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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 …
Persistent link: https://www.econbiz.de/10009616339
This study investigates the effect of family firm on corporate performance and financial policy (capital structure, cash holding, and cash dividends). Using a sample of Brazilian firms, the study uses a treatment effect model to address self-selection and endogeneity problems. The results show...
Persistent link: https://www.econbiz.de/10012970613
We examine the association between ownership structure and dividend payout policy in a family firms dominated economy …. More specifically, we test whether family firms pay higher dividend compared to counter non-family firms in Bangladesh. We … argue that family firms are more likely to pay higher dividend to display lower agency problems between controlling family …
Persistent link: https://www.econbiz.de/10013289115
impact of family control, institutional environment and their interaction on the cash dividend policy of listed companies …. Our results indicate that (1) family firms have a lower cash dividend payout ratio and propensity to pay dividends than … dividend payout ratio and propensity to pay dividends of listed companies; and (3) the impact of the regional institutional …
Persistent link: https://www.econbiz.de/10011823678
Persistent link: https://www.econbiz.de/10011526838
The article analyses inter-dependencies between dividend, capital structure, and cost of capital, factoring the … concentrated ownership. Dividend, leverage, and average cost of capital are inter-linked. However, family firms pay lower dividends …
Persistent link: https://www.econbiz.de/10012023922
few families. These business groups are often organised around a holding company. We analyse the dividend payouts of … the effects of several control-enhancing mechanisms (CEMs) on dividend payouts. We use precise quantitative proxies for … business group companies have lower dividend payouts as the divergence between control and ownership rights widens and the …
Persistent link: https://www.econbiz.de/10012174917
The study aims to evaluate the impact of board traits on the organizations' dividend pay-outratio. For the purpose … statistically significant effect on the dividend pay-outratio. On the same theme, board skills development has significant but … negative effect on the dividend pay-outratio. Nonetheless, the board gender diversity has a positive and insignificant effect …
Persistent link: https://www.econbiz.de/10012664529
Investor-driven "short-termism" is said to harm EU public firms' ability to invest for the long term, prompting calls for the EU to better insulate managers from shareholder pressure. But the evidence offered---rising levels of repurchases and dividends---is incomplete and misleading: it ignores...
Persistent link: https://www.econbiz.de/10012511344
simultaneous equations, we find a significant negative association between family ownership and dividend payout and a two …-way negative relation between dividend payout and leverage. Our analysis reveals that, compared to non-family firms, family firms … tend to maintain a lower dividend pay-out and higher leverage. The presence of large non-family ownership appears to have …
Persistent link: https://www.econbiz.de/10012994038