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David J. Denis
Researcher at University of Pittsburgh
Publications - Â 94
Citations - Â 16347
David J. Denis is an academic researcher from University of Pittsburgh. The author has contributed to research in topics: Equity (finance) & Dividend. The author has an hindex of 51, co-authored 94 publications receiving 15151 citations. Previous affiliations of David J. Denis include Saint Petersburg State University & Purdue University.
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Agency Problems, Equity Ownership, and Corporate Diversification
TL;DR: The authors found that the level of diversification is negatively related to managerial equity ownership and to the equity ownership of outside blockholders, and that decreases in diversification are associated with external corporate control threats, financial distress, and management turnover.
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Performance Changes Following Top Management Dismissals
David J. Denis,Diane K. Denis +1 more
TL;DR: The authors found that forced resignations are rare and are due more often to external factors (e.g., blockholder pressure, takeover attempts, etc.) than to normal board monitoring, while normal retirements are followed by small increases in operating income and are also subject to a slightly higher than normal incidence of postturnover corporate control activity.
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Financial Constraints, Investment, and the Value of Cash Holdings
David J. Denis,Valeriy Sibilkov +1 more
TL;DR: In this paper, the authors provide robust evidence that cash holdings are more valuable for financially constrained firms than for unconstrained firms and investigate why this is so, concluding that higher cash holdings allow constrained firms to undertake value-increasing projects that might otherwise be bypassed.
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Why Do Firms Pay Dividends? International Evidence on the Determinants of Dividend Policy
Igor Osobov,David J. Denis +1 more
TL;DR: In the U.S., Canada, U.K., Germany, France, and Japan, the propensity to pay dividends is higher among larger, more profitable firms, and those for which retained earnings comprise a large fraction of total equity.
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Ownership structure and top executive turnover
TL;DR: In this article, ownership structure significantly affects the likelihood of a change in top executive and the probability of top executive turnover is negatively related to the ownership stake of officers and directors and positively related to presence of an outside blockholder.