An international analysis of dividend payment behavior

Journal of Business Finance and Accounting

Volumn 36, Issue 3-4, 2009, Pages 496-522

  Ferris, Stephen P ^a   Sen, Nilanjan ^b   Unlu, Emre ^c  

^a UNIVERSITY OF MISSOURI   (United States)

^b NANYANG TECHNOLOGICAL UNIVERSITY   (Singapore)

^c UNIVERSITY OF NEBRASKA LINCOLN   (United States)

Author keywords

Common law; International dividends; Propensity to pay

Indexed keywords

EID: 65149083682     PISSN: 0306686X     EISSN: 14685957     Source Type: Journal    
DOI: 10.1111/j.1468-5957.2009.02126.x     Document Type: Article

References (22)

1. Aivazian, V., I. Booth and S. Cleary (2003 Do Emerging Market Firms Follow Different Dividend Policies From U.S. Firms Journal of Financial Research, Vol. 26, pp. 371 87. (Pubitemid 36982194)
2. Armour, J., S. Deakin and S. Konzelmann (2003 Shareholder Primacy and the Trajectory of UK Corporate Governance British Journal of Industrial Relations, Vol. 41, pp. 531 55. (Pubitemid 37103516)
3. Barclay, M., C. Smith and R. Watts (1995 The Determinants of Corporate Leverage and Dividend Policies Journal of Applied Corporate Finance, Vol. 17, pp. 4 19.
4. Deakin, S. (2005 The Coming Transformation of Shareholder Value Corporate Governance: An International Review, Vol. 13, pp. 11 18. (Pubitemid 40166830)
5. Deakin, S. and A. Hughes (1997 Comparative Corporate Governance: An Interdisciplinary Agenda Journal of Law & Society, Vol. 24, pp. 1 9. (Pubitemid 127051929)
6. DeAngelo, H., L. DeAngelo and D. Skinner (2004 Are Dividends Disappearing? Dividend Concentration and the Consolidation of Earnings Journal of Financial Economics, Vol. 72, pp. 425 56. (Pubitemid 38670685)
7. DeAngelo, H., L. DeAngelo and R. Stulz (2006 Dividend Policy and the Earned/Contributed Capital Mix: A Test of the Life-Cycle Theory Journal of Financial Economic, Vol. 81, pp. 227 54.
8. Denis, D. and I. Osobov (2008 Why Do Firms Pay Dividends? International Evidence on the Determinants of Dividend Policy Journal of Financial Economics, Vol. 89, pp. 62 82.
9. Eije, H. and W. Megginson (2008 Dividend and Share Repurchases in the European Union Journal of Financial Economics, Vol. 89, pp. 347 74.
10. Fama, E. and K. French (2001 Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay Journal of Financial Economics, Vol. 60, pp. 3 43. (Pubitemid 33619252)
11. Fama, E. and K. French (2004 New Lists and Seasoned Firms: Fundamentals and Survival Rates Journal of Financial Economics, Vol. 73, pp. 229 70.
12. Farinha, J. (2003 Dividend Policy, Corporate Governance and the Managerial Entrenchment Hypothesis: An Empirical Analysis Journal of Business Finance & Accounting, Vol. 30, pp. 1173 209. (Pubitemid 38492416)
13. Ferris, S., N. Sen and H. Yui (2006a God Save the Queen and Her Dividends: Corporate Payouts in the U.K. Journal of Business, Vol. 79, pp. 1149 73.
14. Ferris, S., N. Sen and H. Yui (2006b Are Fewer Firms Paying More Dividends? The International Evidence Journal of Multinational Financial Management, Vol. 16, pp. 333 62.
15. Gaver, J. and K. Gaver (1993 Additional Evidence on the Association Between the Investment Opportunity Set and Corporate Financing, Dividend and Compensation Policies Journal of Accounting & Economics, Vol. 16, pp. 125 60.
16. Gillan, S. and L. Starks (2003 Corporate Governance, Corporate Ownership, and the Role of Institutional Investors: A Global Perspective Journal of Applied Corporate Finance, Vol. 13, pp. 20 32.
17. Han, K., S. Lee and D. Yuk (1999 Institutional Shareholders and Dividends Journal of Financial & Strategic Decisions, Vol. 12, pp. 53 62.
18. Hand, J. and W. Landsman (2005 The Pricing of Dividends in Equity Valuation Journal of Business Finance & Accounting, Vol. 32, pp. 435 69. (Pubitemid 41652598)
19. Hoberg, G. and N. Prabhala (2007 Disappearing Dividends, Catering, and Risk Working Paper (University of Maryland).
20. LaPorta, R., F. Lopez deSilanas, A. Shleifer and R. Vishny (1997 Legal Determinants of External Finance Journal of Finance, Vol. 52, pp. 1131 50. (Pubitemid 127099035)
21. LaPorta, R., F. Lopez deSilanas, A. Shleifer and R. Vishny (2000 Agency Problems and Dividend Policies Around the World Journal of Finance, Vol. 55, pp. 1 33.
22. Smith, C. and R. Watts (1992 The Investment Opportunity Set and Corporate Financing, Dividend and Compensation Policies Journal of Financial Economics, Vol. 32, pp. 263 92.