We review accounting and finance research on corporate governance (CG). In the course of
our review, we focus on a particularly vexing issue, namely endogeneity in the relationships …

We survey the literature on payout policy, with a particular emphasis on developments in the
past two decades. The cross-sectional empirical evidence for the traditional motivations …

While prior research has established that information technology (IT) investment has a
significant impact on firm performance, relatively few studies have provided insights into the …

This study investigates the relationship between environmental, social, and governance
(ESG) scores and dividend policies, considering the moderating role of audit quality. Based …

This paper investigates whether female independent directors are more likely to impose
high dividend payouts. We find evidence that firms with a larger fraction of female directors …

Abstract Employing 63,464 firm-year observations of 8876 companies in 22 countries from
2000 to 2013, we conduct a series of multiple regression analyses that reveal a significantly …

We provide the first international evidence on the impact of economic policy uncertainty
(EPU) on dividend policy. Using data from 19 countries, we find that a high level of EPU is …

We document the cross-sectional properties of corporate dividend-smoothing policies and
relate them to extant theories. We find that younger, smaller firms, firms with low dividend …

I provide an overview of the topics covered in this Special Issue of the Journal of Corporate
Finance on “Financial Flexibility and Corporate Liquidity.” This burgeoning literature …

This study examines the effect of institutional ownership on dividend payouts through the
lens of agency theory. We hypothesize that only institutions with certain traits are likely to …