In this study, we examine the effects of geopolitical risk on corporate payout policy.
Exploiting a news-based index of geopolitical risk, we find that firms adopt a more …

This chapter reviews the empirical literature on corporate dividend policy. Miller and
Modigliani (MM; 1961) famously demonstrated that in perfect capital markets, and fixed …

This paper extends the work of Balachandran and Faff (2015) and reviews the literature on
effective governance, financial markets, institutions, and crises. Specifically, we discuss the …

The purpose of this study is to extend the previous literature on the dividend payout and
corporate social responsibility nexus by considering internal and external contingencies. We …

Studies have explored the effects of corporate social responsibility disclosure (CSRD) and
corporate social responsibility performance (CSRP) on firms' dividend decisions. However …

We find that manufacturing firms adopt more conservative capital structures in response to
the Nitrogen Oxides (NOx) Budget Trading Program (NBP) of 2004, a regional cap-and …

Employing the enactment of a regulation that mandates a subset of firms to disclose their
corporate social responsibility (CSR) activities as a quasi‐natural experiment, we find that …

We show that the presence of dual holders following the mergers between institutional
shareholders and creditors of industry firms leads to a decrease in the firms' excessive …

Dual holders, financial institutions that simultaneously hold the debt and equity claims of the
same firms, increase corporate tax avoidance. The positive effect is more pronounced in …

We employ a difference-in-differences estimation approach to examine the impact of
stakeholder orientation on corporate payout policy. The empirical test exploits the enactment …