We examine the relations between corporate social responsibility (CSR) disclosures, dividend payments and firm value. use an international sample measure CSR disclosures based on Global Reporting Initiative (GRI) disclosure levels, which we divide into two parts (unexpected expected disclosures). find three main results. First, firms with higher levels of unexpected pay dividends, this associat...

Copyright 1999 by Alon Brav and Ernst Maug. All rights reserved. No part of this lecture may be reproduced without the permission of the authors. In this lecture we analyze the firm's capital structure and its impact on the value and returns of a company. Capital structure is defined as the composition of all the securities the firm issues in order to finance its operations. These securities ca...

This paper examines whether dividend payments mitigate the influence of COVID-19 crisis on earnings management practices in Brazil. For this purpose, we use a sample 264 Brazilian public firms from 2010 to 2021, applying System Generalized Method Moments (SYS-GMM) regressions. Our main results indicate that, although are more prone engage during period, payout ratio mitigates level. Therefore, ...

This study aims to determine the effect of dividend payments, global financial crisis, internal finance, and external finance on company's sales growth in Indonesia. There are several control variables such as size, leverage, profitability, past assets. The reason for taking this research sample Indonesia is because one developing countries whose economy currently growing even though it being h...

In this paper, the surplus process (before taxes are deducted) for an insurance company evolves as a spectrally negative Lévy with usual exclusion of subordinator or deterministic drift. Tax payments collected according to very general loss-carry-forward tax system introduced in [20]. We consider optimal problem taking into account both expected discounted and time value ruin. The function stra...

Purpose This paper aims to present a comparative evaluation of the determinants affecting likelihood dividend payouts by Islamic and conventional banks in Gulf Cooperation Council (GCC) countries. Design/methodology/approach The authors used dynamic panel logit model test life-cycle theory analyzing GCC banks. Moreover, multinomial logistic regressions extend results where dependent variable is...

We study an optimal dividend problem for insurer who simultaneously controls investment weights in a financial market, liability ratio the insurance business, and payout rate. The seeks strategy to maximize her expected utility of payments over infinite horizon. By applying perturbation approach, we obtain value function closed form log power utility. conduct economic analysis investigate impac...

Abstract The optimal dividends problem has remained an active research field for decades. For insurance company with reserve modelled by a spectrally negative Lévy process having finite first-order moment, we study the impulse dividend and capital injection (IDCI) strategy maximizing expected accumulated discounted net payment subtracted cost of injecting capital. In this setting, beneficiary i...

Effects of dividend policy on corporate financial growth, is a major concern of most entities. Whether dividends have an influence on the value of the firm, is an important question in dividend policy. This study aimed at investigating the effects of dividend policy on financial growth of media firms. The study was conducted in Nairobi at The Nation media Group Headquarters. Respondents were se...

Stock price has been found to provide important information about future economic activities. Fama (1981), Fischer and Merton (1984), and Barro (1990), among many others, document a positive relation between stock market return and subsequent growth in investment and output. These findings are consistent with rational expectations asset pricing models, in which stock price is equal to the sum o...