Article(electronic)#12013
National Culture and Corporate Investment
In: Journal of International Business Studies, Volume 44, Issue 7, p. 745-763
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Article(electronic)#2January 2013
DIVIDEND POLICY: BALANCING SHAREHOLDERS' AND CREDITORS' INTERESTS
In: The journal of financial research: the journal of the Southern Finance Association and the Southwestern Finance Association, Volume 36, Issue 1, p. 43-66
ISSN: 1475-6803
AbstractDividend policies provide an opportune setting to examine how firms simultaneously manage the diverging interests of shareholders and creditors. Dividends ease shareholders' concerns about expropriation by insiders while exacerbating creditors' concerns about expropriation by shareholders. Firm insiders should set dividend policies to minimize the agency costs of equity and debt. Using a sample of 39 countries for 1991–2010, we find strong evidence that dividends are more positively sensitive to creditor (shareholder) rights when shareholders (creditors) are adequately protected. Our research emphasizes the importance of accounting for the interactions between both agency relationships when studying corporate policies.
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Article(electronic)#42019
The Role of Creditor Rights on Capital Structure and Product Market Interactions: International Evidence
In: Journal of International Business Studies
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Article(electronic)#52018
National Culture and the Choice of Exchange Rate Regime
In: Journal of International Money and Finance
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Article(electronic)#62017
Collectivism and the Costs of High Leverage
In: Journal of Banking and Finance
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Article(electronic)#82015
National Culture and Profit Reinvestment: Evidence from Small and Medium-Sized Enterprises
In: Financial Management
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Article(electronic)#92014
Collectivism and Corruption in Commercial Loan Production: How to Break the Curse?
In: Journal of Business Ethics, Volume 139, Issue 2
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Article(electronic)#102013
Collectivism and Corruption in Bank Lending
In: Journal of International Business Studies
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Article(electronic)#112011
National Culture and Corporate Debt Maturity
In: Journal of Banking and Finance, Volume 36
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Article(electronic)#122016
Family Control and Corporate Social Responsibility
In: Journal of Banking and Finance
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Article(electronic)#132017
Does Corporate Social Responsibility Reduce the Costs of High Leverage? Evidence from Capital Structure and Product Market Interactions
In: Journal of Banking and Finance
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Article(electronic)#142016
Cross-Listing and Corporate Social Responsibility
In: Journal of Corporate Finance
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Article(electronic)#152019
International Evidence on State Ownership and Trade Credit: Opportunities and Motivations
In: Journal of International Business Studies
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