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The role of cross-listing, foreign ownership and state ownership in dividend policy in an emerging market
16 references·16 citing·34 second hopsampled
The role of cross-listing, foreign ownership and state ownership in dividend policy in an emerging market (2012)The role of cross-listing, foreign owners…Tunneling through intercorporate loans: The China experience☆ (2010)Tunneling through intercorpor…Payout policy in the 21st century (2005)Payout policy in the 21st cen…Dividends and Expropriation (2001)Dividends and ExpropriationA Theory of Dividends Based on Tax Clienteles (2000)A Theory of Dividends Based o…Agency Problems and Dividend Policies Around the World (1998)Agency Problems and Dividend …Simultaneous Determination of Insider Ownership, Debt, and Dividend Policies (1992)Simultaneous Determination of…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Dividends, Dilution, and Taxes: A Signalling Equilibrium (1985)Dividends, Dilution, and Taxe…Dividend Policy under Asymmetric Information (1985)Dividend Policy under Asymmet…Two Agency-Cost Explanations of Dividends (1984)Two Agency-Cost Explanations …Stock Prices and Social Dynamics (1984)Stock Prices and Social Dynam…Separation of Ownership and Control (1983)Separation of Ownership and C…GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)GROWTH, BETA AND AGENCY COSTS…Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy (1979)Imperfect Information, Divide…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Theory of the firm: Manageria…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The impact of corporate governance and firm-specific characteristics on dividend policy: an emerging market case (2022)The impact of corporate gover…Moderating role of corporate governance and ownership structure on the relationship of corporate sustainability performance and dividend policy (2022)Moderating role of corporate …The impact of board composition and ownership structure on dividend payout policy: evidence from Saudi Arabia (2021)The impact of board compositi…How does ownership structure affect the financing and dividend decisions of firm? (2021)How does ownership structure …Dynamics between ownership structure and dividend policy: evidence from Bangladesh (2021)Dynamics between ownership st…Board Gender Diversity and Dividend Policy in Chinese Listed Firms (2021)Board Gender Diversity and Di…Analyst coverage, corporate social responsibility, and firm value: Evidence from China (2021)Analyst coverage, corporate s…The Impact of Firm Characteristics on Corporate Financial Performance in Emerging Markets (2020)The Impact of Firm Characteri…How does CSR disclosure affect dividend payments in emerging markets? (2020)How does CSR disclosure affec…Board-Gender Diversity, Family Ownership, and Dividend Announcement: Evidence from Asian Emerging Economies (2020)Board-Gender Diversity, Famil…Payout policy and ownership structure: The case of Islamic and conventional banks (2019)Payout policy and ownership s…Impact of board characteristics on firm dividends: evidence from India (2019)Impact of board characteristi…Determinants of dividend payout and dividend propensity in an emerging market, Iran: an application of the LASSO (2019)Determinants of dividend payo…Social trust environment and firm tax avoidance: Evidence from China (2017)Social trust environment and …Dividend Payment Behaviour and its Determinants: The Nigerian Evidence (2016)Dividend Payment Behaviour an…Free Cash Flow, Growth Opportunities, And Dividends: Does Cross-Listing Of Shares Matter? (2014)Free Cash Flow, Growth Opport…The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Dividend Policy, Growth, and the Valuation of Shares (1961)INFORMATIONAL ASYMMETRIES, FINANCIAL STRUCTURE, AND FINANCIAL INTERMEDIATION (1977)Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)The investment opportunity set and corporate financing, dividend, and compensation policies (1992)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (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)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Job Market Signaling (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Efficient Capital Markets: II (1991)Agency Problems and the Theory of the Firm (1980)Agency costs of free cash flow, corporate finance, and takeovers (1996)The Nature of the Firm (1937)The Pricing of Options and Corporate Liabilities (1973)A Survey of Corporate Governance (1997)Law and Finance (1998)Investor protection and corporate governance (2000)Investor Protection and Corporate Valuation (2002)The Economic Consequences of Legal Origins (2008)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Agency Theory: An Assessment and Review (1989)Strategic assets and organizational rent (1993)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)The Economic Implications of Corporate Financial Reporting (2004)The economic implications of corporate financial reporting (2005)Corporate governance and firm cash holdings in the US (2007)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)How do family ownership, control and management affect firm value? (2005)Politically Connected Firms (2006)
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References

  • 1976Theory of the firm: Managerial behavior, agency costs and ownership structure71,441 cited
  • 1983Separation of Ownership and Control19,446 cited
  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1985Dividend Policy under Asymmetric Information3,459 cited
  • 1998Agency Problems and Dividend Policies Around the World3,179 cited
  • 1984Two Agency-Cost Explanations of Dividends3,109 cited
  • 1979Imperfect Information, Dividend Policy, and "The Bird in the Hand" Fallacy2,809 cited
  • 2005Payout policy in the 21st century2,268 cited
  • 2001Dividends and Expropriation1,791 cited
  • 1982GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS1,728 cited
  • 1984Stock Prices and Social Dynamics1,615 cited
  • 2010Tunneling through intercorporate loans: The China experience☆1,600 cited
  • 1985Dividends, Dilution, and Taxes: A Signalling Equilibrium1,425 cited
  • 1992Simultaneous Determination of Insider Ownership, Debt, and Dividend Policies1,064 cited
  • 2000

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A Theory of Dividends Based on Tax Clienteles
857 cited

Cited by

  • 2020How does CSR disclosure affect dividend payments in emerging markets?85 cited
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  • 2017Social trust environment and firm tax avoidance: Evidence from China76 cited
  • 2021The impact of board composition and ownership structure on dividend payout policy: evidence from Saudi Arabia75 cited
  • 2021Board Gender Diversity and Dividend Policy in Chinese Listed Firms68 cited
  • 2021Dynamics between ownership structure and dividend policy: evidence from Bangladesh67 cited
  • 2019Impact of board characteristics on firm dividends: evidence from India65 cited
  • 2022Moderating role of corporate governance and ownership structure on the relationship of corporate sustainability performance and dividend policy55 cited
  • 2021How does ownership structure affect the financing and dividend decisions of firm?51 cited
  • 2020Board-Gender Diversity, Family Ownership, and Dividend Announcement: Evidence from Asian Emerging Economies46 cited
  • 2016Dividend Payment Behaviour and its Determinants: The Nigerian Evidence36 cited
  • 2019Payout policy and ownership structure: The case of Islamic and conventional banks35 cited
  • 2020The Impact of Firm Characteristics on Corporate Financial Performance in Emerging Markets30 cited
  • 2022The impact of corporate governance and firm-specific characteristics on dividend policy: an emerging market case24 cited
  • 2019Determinants of dividend payout and dividend propensity in an emerging market, Iran: an application of the LASSO21 cited
  • 2014Free Cash Flow, Growth Opportunities, And Dividends: Does Cross-Listing Of Shares Matter?21 cited