The paper investigates market reaction to announcements of stock repurchases and dividends and determinants of choice between the two payout methods. The analysis uses data on Polish firms with the sample period encompassing a significant tax regulation change. The average announcement period abnormal returns are relatively high and exceed 6% for stock repurchases and 2% for dividend initiation...

This study to test the influence company Cycle life, profitability, ownership institutional policy dividends on manufacturers listed IDX for 2017-2020 period. life classified based growth sale with four stages cycle which are start-up, growth, maturity and decline. be measured using retained earnings total equity (RETE), profitability Return Assets (ROA), Ownership percentage institution. The c...

This paper investigates the effect of CFO gender on corporate financial reporting decision-making. Focusing on firms that experience changes of CFO from male to female, the paper compares the firms’ degree of accounting conservatism between preand post-transition periods. We find that female CFOs are more conservative in their financial reporting. In addition, we find that the relation between ...

This paper primarily aims at examining the impact of dividend policy on stock price volatility industrial firms listed in Dar es Salaam Stock Exchange employing data collected from audited published financial statements for period 2009–2019. The utilized a panel regression estimation method, and results show that both measures policy—dividend yield payout ratios—have negative significant relati...

The impact of dividend payment on firm value is a subject ongoing debate by academics and practitioners. We examine the policy Nigerian manufacturing companies over period 2010 2018. Pooled ordinary least square (OLS) fixed effect regression analysis was applied twenty thirty-five listed Nigeria Stock Exchange (NSE). result indicates significant positive relationship between payout ratio, per s...

This study intends to identify the determinants of corporate dividend policy followed in Bangladesh. The uses a firm-level panel data set 61 companies from eight major sectors DSE for ten years 2008 2017. Pearson correlation coefficient and backward elimination method multiple regression have been used find out results study. shows mixed relationship between per share ownership structure, reser...

This paper examines whether long-term foreign investors may force firms to use a costly dividend mitigate inefficient managerial behavior. The authors also hypothesize that the relation between investment horizons and payout policy depends upon extent of corporate governance. find held by make more often in subsequent years. with investments do not cause pay dividends when have strong It sugges...

Corporations in most countries are run by controlling shareholders, who have substantially smaller cash flow rights than their control rights in the firm. This separation of ownership and control allows the controlling shareholders to pursue private benefits at the cost of outside minority investors by diverting resources away from the firm and distorting corporate investment and payout policie...

The tax burden on equity securities has varied substantially since US federal income taxes were introduced in 1913. Taxes on equity securities vary over time due to changes in dividend and capital gains tax rates and due to changes in corporate payout policies. Equity taxes also vary across firms due to persistent differences in propensities to pay dividends. Despite the continuing policy debat...

Article history: Received 13 August 2012 Received in revised form 31 December 2013 Accepted 16 January 2014 Available online 23 January 2014 Companies can increase executive compensation by allowing dividends to be paid on unvested restricted stocks grants, also known as stealth compensation. Examining all S&P 500 firms over the period 2003–2007, we find that more than half of the dividend payi...