Yahoo Canada Web Search

Search results

1. www.sciencedirect.com › science › articleDoes stock market liquidity affect dividends?☆ - ScienceDirect

   www.sciencedirect.com › science › article

   Sep 1, 2022 · Second, dividend payment might affect market liquidity, resulting in reverse causality. Third, financial constraints tend to be negatively correlated with firms' liquidity and dividend payout, causing a positive correlation between market liquidity and dividend policy due to omitted factors.

   • Dividend policy and stock liquidity: Lessons from Central and ...

     There are two conflicting hypotheses on the effect of stock...

   • Stock liquidity and dividend payouts - ScienceDirect

     The traditional clientele transaction cost view predicts a...

2. www.sciencedirect.com › science › articleDividend policy and stock liquidity: Lessons from Central and ...

   www.sciencedirect.com › science › article

   Dec 1, 2022 · There are two conflicting hypotheses on the effect of stock liquidity on dividend policy. The first hypothesis (the liquidity cost hypothesis) derived by Banerjee et al. (2007) from Miller and Modigliani (1961) dividend irrelevance theory assumes a negative association between stock liquidity and dividend policy.

3. Videos

   • 

     investopedia.com

     What Is a Dividend Policy?

     Dec 31, 2008

   • 

     7:12

     youtube.com

     Dividend Policy: why firms don't pay out all their earnings as dividends

     Jul 15, 2013

     64.4K Views

   • 

     investopedia.com

     Dividend Payout Ratio Definition, Formula, and Calculation

     Dec 31, 2008

   View all

4. www.diva-portal.org › smash › getDoes Corporate Liquidity Affect Dividend Policy?

   www.diva-portal.org › smash › get

   dividend policy is divided into cash dividends and share repurchases. In order to examine the possible relationship between corporate liquidity and dividend policy, public European firms are examined. Denmark, France, Germany, Norway, Sweden, and the UK are selected based on the similarities in the regulation and market structure in the ...

5. www.sciencedirect.com › science › articleStock liquidity and dividend payouts - ScienceDirect

   www.sciencedirect.com › science › article

   Feb 1, 2017 · The traditional clientele transaction cost view predicts a negative relation between stock liquidity and dividend payouts. Miller and Modigliani (1961) advance the proposition that dividends are irrelevant—in a frictionless world, shareholders' wealth is determined solely by the firm's investment opportunities and is independent of payout policy.

   • Author: Fuxiu Jiang, Yunbiao Ma, Beibei Shi

   • Publish Year: 2017

6. link.springer.com › article › 10Dividend policy, systematic liquidity risk, and the cost of ...

   link.springer.com › article › 10

   • Cached

   Nov 18, 2022 · This paper examines a new channel through which dividend policy can affect firm value. We find that firms that pay dividends exhibit lower systematic liquidity risk than those that do not. We also report a significant negative relationship between dividend payment and systematic liquidity risk. The liquidity improvement associated with dividend payments translates into an economically ...

7. link.springer.com › content › pdfDividend policy, systematic liquidity risk, and the cost of ...

   link.springer.com › content › pdf

   an informational role in motivating managers to pay out dividends.1 Although prior studies focus on the relationship between dividend policy and rm-specic liquidity, research on the eect of dividend payouts on liquidity risk, namely the sensitivity of stock returns to unexpected changes in market liquidity, is relatively scarce.

8. People also ask

   What is the relationship between stock liquidity and dividend payouts?

   • The traditional clientele transaction cost view predicts a negative relation between stock liquidity and dividend payouts. Miller and Modigliani (1961) advance the proposition that dividends are irrelevant—in a frictionless world, shareholders' wealth is determined solely by the firm's investment opportunities and is independent of payout policy.

   Stock liquidity and dividend payouts - ScienceDirect

   www.sciencedirect.com/science/article/pii/S0929119916303583

   See all results for this question

   Does firm stock market liquidity affect dividend payout?

   • The study is important due to several reasons. Most importantly, liquidity is a reflection of firm information asymmetries, and dividend policy is a tool to convey signaling information to reduce information asymmetries. The literature remains inconclusive about the link between firm stock market liquidity and dividend payout.

   Full article: Can liquidity explain dividends? - Taylor & Francis Online

   www.tandfonline.com/doi/full/10.1080/23311975.2021.2018906

   See all results for this question

   Does stock liquidity affect dividend pay-out propensity?

   • In line with the liquidity cost hypothesis, a negative relationship between a firm’s stock liquidity and its dividend pay-out propensity has been confirmed in the research conducted by Banerjee at el. (2007) in the U.S. stock market, Griffin (2010) in Canada, Mexico, and Brazil, and Farooq and Seffar (2012) for the MENA stock exchanges.

   Dividend policy and stock liquidity: Lessons from ... - ScienceDirect

   www.sciencedirect.com/science/article/pii/S0275531922001155

   See all results for this question

   Does liquidity affect a firm's dividend policy?

   • Using two exogenous shocks to liquidity, one that reduced trading frictions in the US and another that lifted restrictions on non-traded stocks in the Chinese equity markets, this paper tests whether a firm's dividend policy is indeed affected by the liquidity of its shares and differentiates the liquidity channel from other channels.

   Does stock market liquidity affect dividends? - ScienceDirect

   www.sciencedirect.com/science/article/pii/S0927538X2200083X

   See all results for this question

   Do dividend payouts reduce liquidity risk?

   • Our results are robust to endogeneity concerns, to alternative measures of liquidity risk and dividend payouts, and to alternative model specifications. Further analysis suggests that the reduction in liquidity risk associated with dividend payouts is more pronounced for weakly governed firms and firms with opaque informational environment.

   Dividend policy, systematic liquidity risk, and the cost of equity

   link.springer.com/article/10.1007/s11156-022-01114-3

   See all results for this question

   How do liquidity changes affect dividend payments?

   • In addition to a direct effect of reduced transaction costs on dividend policy, liquidity changes may also lead to governance ( Edmans et al., 2013) and clientele changes ( Amihud and Mendelson, 1986 ), which in turn may affect dividend payments.

   Does stock market liquidity affect dividends? - ScienceDirect

   www.sciencedirect.com/science/article/pii/S0927538X2200083X

   See all results for this question

9. www.tandfonline.com › doi › fullCan liquidity explain dividends? - Taylor & Francis Online

   www.tandfonline.com › doi › full

   Jan 4, 2022 · Dividend policy is an important governance tool to reduce information asymmetry (Attig et al. Citation 2016), and the link between stock market liquidity (as a reflection of information asymmetries in stock markets) in determining firm dividend payout is an interesting topic in finance. Even though it is an interesting topic, that remains inconclusive.