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Bank dividend policy and the global financial crisis: Empirical evidence from Europe
16 references·0 citing·45 second hop
Bank dividend policy and the global financial crisis: Empirical evidence from Europe (2013)Bank dividend policy and the global finan…Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany (2012)Do Better Capitalized Banks L…The Credit Crisis and Cycle-Proof Regulation (2009)The Credit Crisis and Cycle-P…Explanatory factors of bank dividend policy: revisited (2009)Explanatory factors of bank d…Dividend policy: a review (2007)Dividend policy: a reviewBANK DIVIDEND POLICY: EXPLANATORY FACTORS (2002)BANK DIVIDEND POLICY: EXPLANA…Do Financial Institutions Matter? (2001)Do Financial Institutions Mat…APPROXIMATIONS TO THE ASYMPTOTIC DISTRIBUTIONS OF COINTEGRATION TESTS (1998)APPROXIMATIONS TO THE ASYMPTO…The stock-market reaction to dividend cuts and omissions by commercial banks (1996)The stock-market reaction to …Nonstationary time series analysis and cointegration (1996)Nonstationary time series ana…Chapter 25 Dividend policy (1995)Chapter 25 Dividend policyBank Dividend Policy as a Signal of Bank Quality (1995)Bank Dividend Policy as a Sig…Dividend Policy and Signaling by Insurance Companies (1993)Dividend Policy and Signaling…Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models (1991)Estimation and Hypothesis Tes…GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)GROWTH, BETA AND AGENCY COSTS…Asset returns and inflation (1977)Asset returns and inflationDividend Policy, Growth, and the Valuation of Shares (1961)Dividend Policy, Growth, and …Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)The Determination of Financial Structure: The Incentive-Signalling Approach (1977)Dividend Policy under Asymmetric Information (1985)WHAT FACTORS MOTIVATE THE CORPORATE DIVIDEND DECISION (2005)CEO inside debt holdings and risk-shifting: Evidence from bank payout policies (2014)Determinants of the Dividend Policy: An Empirical Study on the Lebanese Listed Banks (2014)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Corporate financing and investment decisions when firms have information that investors do not have (1984)Asymmetric information, dividend reductions, and contagion effects in bank stock returns (2000)The cost of capital, corporation finance and the theory of investment (2008)Who Disciplines Bank Managers? (2011)Moral Hazard, Dividends, and Risk in Banks (2014)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency costs of free cash flow, corporate finance, and takeovers (1996)Dividends and family governance practices in private family firms (2014)Corporate governance and payout policy: evidence from India (2019)ESG, dividend payout policy and the moderating role of audit quality: Empirical evidence from Western Europe (2022)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Expected stock returns and volatility (1987)Efficient Capital Markets: II (1991)On the Relation between the Expected Value and the Volatility of the Nominal Excess Return on Stocks (1993)Statistical analysis of cointegration vectors (1988)MAXIMUM LIKELIHOOD ESTIMATION AND INFERENCE ON COINTEGRATION — WITH APPLICATIONS TO THE DEMAND FOR MONEY (1990)A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics1 (1992)Bounds testing approaches to the analysis of level relationships (2001)Unit root tests in panel data: asymptotic and finite-sample properties (2002)DISTRIBUTION OF INCOMES OF CORPORATIONS AMONG DIVIDENDS, RETAINED EARNINGS AND TAXES (1956)Additional evidence on equity ownership and corporate value (1990)The investment opportunity set and corporate financing, dividend, and compensation policies (1992)Likelihood-Based Inference in Cointegrated Vector Autoregressive Models (1995)Inference in Cointegrating Models: UK M1 Revisited (1998)Interaction of European Carbon Trading and Energy Prices (2007)Are gold and silver a hedge against inflation? A two century perspective (2015)Determinants of corporate borrowing (1977)Bank Runs, Deposit Insurance, and Liquidity (1983)Asset Pricing with Liquidity Risk (2003)Financial Intermediation (2003)Equilibrium prices in the presence of delegated portfolio management (2011)Relationships among U.S. oil prices and oil industry equity indices (2003)Estimation of Markov regime-switching regression models with endogenous switching (2007)A model of carbon price interactions with macroeconomic and energy dynamics (2011)The Behavior of Stock-Market Prices (1965)The Pricing of Options and Corporate Liabilities (1973)
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References

  • 1991Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models11,146 cited
  • 1961Dividend Policy, Growth, and the Valuation of Shares6,554 cited
  • 1977Asset returns and inflation2,701 cited
  • 1982GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS1,728 cited
  • 2001Do Financial Institutions Matter?276 cited
  • 1998APPROXIMATIONS TO THE ASYMPTOTIC DISTRIBUTIONS OF COINTEGRATION TESTS249 cited
  • 1996Nonstationary time series analysis and cointegration185 cited
  • 2002BANK DIVIDEND POLICY: EXPLANATORY FACTORS128 cited
  • 1996The stock-market reaction to dividend cuts and omissions by commercial banks106 cited
  • 2007Dividend policy: a review104 cited
  • 1995Chapter 25 Dividend policy63 cited
  • 2012Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany63 cited
  • 2009Explanatory factors of bank dividend policy: revisited49 cited
  • 2009The Credit Crisis and Cycle-Proof Regulation47 cited
  • 1995Bank Dividend Policy as a Signal of Bank Quality46 cited
  • 1993Dividend Policy and Signaling by Insurance Companies

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