A Catering Theory of Dividends
收藏NBER2003-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9542
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资源简介：
We develop a theory in which the decision to pay dividends is driven by investor demand. Managers cater to investors by paying dividends when investors put a stock price premium on payers and not paying when investors prefer nonpayers. To test this prediction, we construct four time series measures
提供机构：
美国国家经济研究局
创建时间：
2003-03-01
