Understanding Bank Payouts during the Crisis of 2007–2009

نویسندگان

چکیده

Abstract We study U.S. banks’ payout policy in 2007–2008. benchmark these payouts against before the crisis, measure stock price reactions to announcements of dividend changes, and analyze changes relation between growth future performance. Further, we examine cross-sectional variation gauge possible motives underlying decisions do not find that banks have a higher willingness take risk or incentives undertake asset substitution use their engage more wealth transfer compared other banks. (JEL G21, G24, G28, G32, G35). Received February 10, 2021; editorial decision March 2, 2022 by Editor Andrew Ellul. Authors furnished an Internet Appendix, which is available on Oxford University Press Web site next link final published paper online.

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ژورنال

عنوان ژورنال: The Review of Corporate Finance Studies

سال: 2022

ISSN: ['2046-9136', '2046-9128']

DOI: https://doi.org/10.1093/rcfs/cfac015