What determines dividend policy: A comprehensive test (ABSTRACT)
published: 2003 | Research publication | Refereed Journals - Accounting
Zeng, T. (2003). "What determines dividend policy: A comprehensive test". The Journal of American Academy of Business, 2 (2), 3045-309.
ABSTRACT: This paper designs an empirical work to investigate the determinants of corporate dividend policy under the Canadian situation. It shows that firms pay dividend as a signal and to reduce agency costs. It also shows that liquidity and tax clientele effect are related to dividend policy.
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revised Jan 17/05
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