Payout policy

J Farre-Mensa, R Michaely… - Annu. Rev. Financ. Econ …, 2014‏ - annualreviews.org
We survey the literature on payout policy, with a particular emphasis on developments in the
past two decades. The cross-sectional empirical evidence for the traditional motivations …

Corporate governance and firm cash holdings in the US

J Harford, SA Mansi, WF Maxwell - Journal of financial economics, 2008‏ - Elsevier
Using governance metrics based on antitakeover provisions and inside ownership, we find
that firms with weaker corporate governance structures actually have smaller cash reserves …

Corporate governance and dividend pay-out policy in UK listed SMEs: The effects of corporate board characteristics

MH Elmagrhi, CG Ntim, RM Crossley… - International Journal of …, 2017‏ - emerald.com
Purpose The purpose of this paper is to examine the extent to which corporate board
characteristics influence the level of dividend pay-out ratio using a sample of UK small-and …

Corporate governance and dividend policy: shareholders' protection or expropriation?

F Adjaoud, W Ben‐Amar - Journal of business finance & …, 2010‏ - Wiley Online Library
We investigate the relationship between corporate governance quality and dividend policy
in Canada. Based on the agency theory predictions, we consider the effect of two conflicting …

Women in top management and agency costs

AF Jurkus, JC Park, LS Woodard - Journal of business research, 2011‏ - Elsevier
This study investigates gender diversity among the top managers of Fortune 500 firms and
its effect on agency costs. The study finds that firms with a greater percentage of female …

Dividend payouts and corporate governance quality: An empirical investigation

P Jiraporn, JC Kim, YS Kim - Financial Review, 2011‏ - Wiley Online Library
Motivated by agency theory, we investigate how a firm's overall quality of corporate
governance affects its dividend policy. Using a large sample of firms with governance data …

The effect of CEO power on bond ratings and yields

Y Liu, P Jiraporn - Journal of empirical Finance, 2010‏ - Elsevier
We argue that executives can affect firm outcomes only if they have influence over crucial
decisions. This study explores the impact of CEO power or CEO dominance on bond ratings …

Effect of institutional ownership on dividends: An agency-theory-based analysis

K Chang, E Kang, Y Li - Journal of Business Research, 2016‏ - Elsevier
This study examines the effect of institutional ownership on dividend payouts through the
lens of agency theory. We hypothesize that only institutions with certain traits are likely to …

Capital structure and corporate governance quality: Evidence from the Institutional Shareholder Services (ISS)

P Jiraporn, JC Kim, YS Kim, P Kitsabunnarat - International Review of …, 2012‏ - Elsevier
Grounded in agency theory, this study explores how capital structure is influenced by
aggregate corporate governance quality. We measure governance quality using broad …

Does corporate board diversity affect corporate payout policy?

S Byoun, K Chang, YS Kim - Asia‐Pacific Journal of Financial …, 2016‏ - Wiley Online Library
We find that firms with gender/racial diversity in their boards are more likely to pay larger
dividends than firms with non‐diverse boards. Our results suggest that board diversity has a …