메뉴 건너뛰기




Volumn 17, Issue 2, 2009, Pages 163-174

Increased presence of foreign investors and dividend policy of Japanese firms

Author keywords

Dividend; Foreign investors; Generalized ordered probit; Random effects; Unobserved heterogeneity

Indexed keywords


EID: 59649110672     PISSN: 0927538X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.pacfin.2008.04.001     Document Type: Article
Times cited : (78)

References (26)
  • 2
    • 33845894968 scopus 로고    scopus 로고
    • Corporate governance, top executive compensation and firm performance in Japan
    • Basu S., Hwang L.-S., Mitsudome T., and Weintrop J. Corporate governance, top executive compensation and firm performance in Japan. Pacific-Basin Finance Journal 15 (2007) 56-79
    • (2007) Pacific-Basin Finance Journal , vol.15 , pp. 56-79
    • Basu, S.1    Hwang, L.-S.2    Mitsudome, T.3    Weintrop, J.4
  • 3
    • 0344197575 scopus 로고    scopus 로고
    • Hard times or great expectations? Dividend omissions and dividend cuts by UK firms
    • Benito A., and Young G. Hard times or great expectations? Dividend omissions and dividend cuts by UK firms. Oxford Bulletin of Economics and Statistics 65 (2003) 531-555
    • (2003) Oxford Bulletin of Economics and Statistics , vol.65 , pp. 531-555
    • Benito, A.1    Young, G.2
  • 4
    • 0000118836 scopus 로고
    • Imperfect information, dividend policy, and the 'bird in the hand' fallacy
    • Bhattacharya S. Imperfect information, dividend policy, and the 'bird in the hand' fallacy. Bell Journal of Economics 10 (1979) 259-270
    • (1979) Bell Journal of Economics , vol.10 , pp. 259-270
    • Bhattacharya, S.1
  • 8
    • 0038371974 scopus 로고    scopus 로고
    • Dividends, asymmetric information, and agency conflicts: evidence from a comparison of the dividend policies of Japanese and U.S. firms
    • Dewenter L., and Warther V. Dividends, asymmetric information, and agency conflicts: evidence from a comparison of the dividend policies of Japanese and U.S. firms. Journal of Finance 53 (1998) 879-904
    • (1998) Journal of Finance , vol.53 , pp. 879-904
    • Dewenter, L.1    Warther, V.2
  • 9
    • 0001413464 scopus 로고
    • Two agency cost explanations of dividends
    • Easterbrook F. Two agency cost explanations of dividends. American Economic Review 74 (1984) 650-659
    • (1984) American Economic Review , vol.74 , pp. 650-659
    • Easterbrook, F.1
  • 11
    • 0003164748 scopus 로고    scopus 로고
    • Disappearing dividends: changing from characteristics or lower propensity to pay?
    • Fama E., and French K. Disappearing dividends: changing from characteristics or lower propensity to pay?. Journal of Financial Economics 60 (2001) 3-43
    • (2001) Journal of Financial Economics , vol.60 , pp. 3-43
    • Fama, E.1    French, K.2
  • 12
    • 0036116031 scopus 로고    scopus 로고
    • Testing trade-off and pecking order predictions about dividends and debt
    • Fama E., and French K. Testing trade-off and pecking order predictions about dividends and debt. Review of Financial Studies 15 (2002) 1-33
    • (2002) Review of Financial Studies , vol.15 , pp. 1-33
    • Fama, E.1    French, K.2
  • 13
    • 0042784821 scopus 로고    scopus 로고
    • Dividend changes and earnings performance in Japan
    • Fukuda A. Dividend changes and earnings performance in Japan. Pacific-Basin Finance Journal 8 (2000) 53-66
    • (2000) Pacific-Basin Finance Journal , vol.8 , pp. 53-66
    • Fukuda, A.1
  • 16
    • 0001013880 scopus 로고
    • Estimation and testing in the random effects probit method
    • Guilkey D.G., and Murphy J.L. Estimation and testing in the random effects probit method. Journal of Econometrics 59 (1993) 301-317
    • (1993) Journal of Econometrics , vol.59 , pp. 301-317
    • Guilkey, D.G.1    Murphy, J.L.2
  • 17
    • 27644518393 scopus 로고    scopus 로고
    • Dividend change context and signaling efficiency in Japan
    • Harada K., and Nguyen P. Dividend change context and signaling efficiency in Japan. Pacific-Basin Finance Journal 13 (2005) 504-522
    • (2005) Pacific-Basin Finance Journal , vol.13 , pp. 504-522
    • Harada, K.1    Nguyen, P.2
  • 19
    • 0001066475 scopus 로고
    • Agency costs of free-cash-flow, corporate finance, and takeovers
    • Jensen M. Agency costs of free-cash-flow, corporate finance, and takeovers. American Economic Review 76 (1986) 323-329
    • (1986) American Economic Review , vol.76 , pp. 323-329
    • Jensen, M.1
  • 20
    • 0347981294 scopus 로고    scopus 로고
    • How different is Japanese corporate finance? An investigation of the information conflict of new security issues
    • Kang J.-K., and Stulz R.M. How different is Japanese corporate finance? An investigation of the information conflict of new security issues. Review of Financial Studies 9 (1996) 109-139
    • (1996) Review of Financial Studies , vol.9 , pp. 109-139
    • Kang, J.-K.1    Stulz, R.M.2
  • 22
    • 0001099021 scopus 로고    scopus 로고
    • The incidental parameter problem since 1948
    • Lancaster T. The incidental parameter problem since 1948. Journal of Econometrics 95 (2000) 391-413
    • (2000) Journal of Econometrics , vol.95 , pp. 391-413
    • Lancaster, T.1
  • 24
    • 0002744905 scopus 로고
    • Distribution of incomes of corporations among dividends, retained earnings, and taxes
    • Lintner J. Distribution of incomes of corporations among dividends, retained earnings, and taxes. American Economic Review 46 (1956) 97-113
    • (1956) American Economic Review , vol.46 , pp. 97-113
    • Lintner, J.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.