This paper studies the impact of both liquidity and solvency concerns on corporate finance. I
present a tractable model of a firm that optimally chooses capital structure, cash holdings …

Although firms have been distributing dividends to their shareholders for four centuries
(Baskin, 1988), the motivation for this corporate policy is under debate in the academic …

Purpose This study examined the impact of board size, independence and gender diversity
on firm dividend payout. Furthermore, it examined whether the board characteristic–dividend …

I use micro data to quantify key features of US firm financing. In particular, I establish that a
substantial 35 percent of firms' investment is funded using financial markets. I then construct …

We test the impact of taxes and governance systems on dividend payouts across countries.
We show that, unlike previous studies, firms in strong investor protection countries pay lower …

Purpose This paper examines the impact of dividend policy on stock market liquidity, and
whether the dividend payouts has an asymmetric effect on stock liquidity …

Abstract show that in perfect and complete financial markets a firm's value is unaffected by
its dividend policy. Much of the more recent research has demonstrated that dividend policy …

Purpose–This paper aims to examine the stability of dividend policy using a unique data set.
Design/methodology/approach–The paper is based on the Lintner model that is used to test …

We examine the impact of positive fair value adjustments on dividend policy. If fair value
adjustments are transitory in nature and managers are able to assess their implications for …

In practice, Islamic banks manage profit sharing to manage risks by following interest rate,
namely Profit Distribution Management (PDM). Results indicate that management considers …