Open Access
Distribution of incomes of corporations among dividends, retained earnings and taxes
J Lintner
- Vol. 46, Iss: 2, pp 97-113
Reads0
Chats0
TLDR
Lintner as discussed by the authors discusses the distribution of income of corporations among dividends, retained earnings, and taxes in the context of the Sixtyeighth Annual Meeting of the American Economic Association.Abstract:
Distribution of Incomes of Corporations Among Dividens, Retained Earnings, and Taxes Author(s): John Lintner Source: The American Economic Review, Vol. 46, No. 2, Papers and Proceedings of the Sixtyeighth Annual Meeting of the American Economic Association, (May, 1956), pp. 97-113 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/1910664 Accessed: 26/06/2008 14:06read more
Citations
More filters
Journal ArticleDOI
Dividend policy and its relationship to investment and financing policies: empirical evidence
TL;DR: In this article, it is argued that dividend policy is not determined as a residual, but rather that firms adopt independent dividend and investment policies, based on a questionnaire survey, which supports this view.
Journal ArticleDOI
Firm, Country and Macroeconomic Determinants of Capital Structure: Evidence from Turkish Banking Sector
Nuri Baltaci,Hasan Ayaydin +1 more
Abstract: This study explores the significance of firm-specific, country, and macroeconomic factors in explaining variation in leverage using a sample of banks from Turkish banking sector. The analysis is based on quarterly firm-level data from Turkish banking sector in 2002–2012. We aims to contribute to the empirical capital structure literature in the following ways. Our first contribution comes from assessing the importance of firm-specific factors, country-level factors and industrial factors for capital structure decisions in Turkish banking sector. Second, we employ appropriate and advanced dynamic panel data estimators, Blundell and Bond’s (1998) generalized methods of moment’s estimators (GMM System). We find that leverage is significantly and positively associated with average industry leverage, firm size and GDP growth. We find also that leverage is significantly and negatively associated with tangibility, profitability, inflation and financial risk. The regression results for leverage are both theoretically and empirically plausible for banks in Turkey. Moreover, tangibility, profitability and GDP growth are consistent with the predictions of the pecking order theory, while firm size is consistent with the predictions of the trade-off theory. Our findings suggest that the capital structures of financial and non-financial firms are ultimately determined by the same drivers.
Journal ArticleDOI
Dividend policy in India: new survey evidence
H. Kent Baker,Sujata Kapoor +1 more
TL;DR: In this article, the authors surveyed managers of 500 companies listed on the National Stock Exchange (NSE) in India to learn their views about the factors influencing dividend policy, dividend issues, and explanations for paying cash dividends and repurchasing shares.
Journal ArticleDOI
Investment and cash flow: Asymmetric information or managerial discretion
TL;DR: In this paper, the authors present evidence consistent with both hypotheses and show that the managerial discretion hypothesis predicts a positive relationship between investment and cash flow for firms with returns on investment above their costs of capital.
Journal ArticleDOI
Instability in the Dividend Policy of the Istanbul Stock Exchange (Ise) Corporations: Evidence from an Emerging Market
TL;DR: In this paper, the authors provided evidence from the Istanbul Stock Exchange (ISE), an emerging European stock market, and analyzed empirically whether the ISE corporations follow stable cash dividend policies in a regulatory environment that imposed mandatory dividend policies.