股利發放保守性與公司治理

Project Details

Description

The overall conservatism of dividend payout has been the center of the dividend literature. We investigate the relation between corporate governance and managerial dividend conservatism from the angle of risk. That is, firms with better governance are less likely to pay dividend when the idiosyncratic risk is high. Dividend conservatism is a significant determinant of propensity to pay dividends. We also expected to find firms with stronger corporate governance are less inclined to initiate dividends when the risk high. Once they do, they would have better chance to maintain a stable dividend payment afterward.
StatusFinished
Effective start/end date1/08/1531/07/16

Keywords

  • Dividend
  • Corporate Governance
  • Idiosyncratic Risk

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