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政大典藏 > College of Commerce > Department of Finance > Periodical Articles > Item 140.119/62219

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/62219

Title:	Stock market development and the decline of the portion of dividend payer throughout the world
Authors:	屠美亞 Twu, Mia
Contributors:	政大財管系
Keywords:	stock market development;likelihood to pay;payouts;omission;dividends
Date:	2012-05
Issue Date:	2013-12-06 15:22:20 (UTC+8)
Abstract:	I contend that stock market development has substantially contributed to the decline of dividend payers worldwide. Using data from 31 countries, my research shows that stock market development makes firms in countries with a relatively high dependence on stock market financing less likely to pay dividends, to pay less, and more likely to omit. These results also are robust to the sample selection, the time‐varying firm characteristics, and the differences in legal systems, capital market scales, and country‐level information disclosure.
Relation:	Financial Review, 47(2), 401-421
Data Type:	article
DOI link:	http://dx.doi.org/10.1111/j.1540-6288.2012.00334.x
DOI:	10.1111/j.1540-6288.2012.00334.x
Appears in Collections:	[Department of Finance] Periodical Articles

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