Bonding, signaling theory and dividend policy: Evidence from multinational firms

被引：0
|
作者：
Imen Ghadhab
机构：
[1] University of Tunis,BESTMOD Laboratory Institut Supérieur de Gestion
来源：
Journal of Asset Management | 2023年 / 24卷
关键词：
Cross-listing; Dividend policy; Bonding; G20; G32;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
This paper investigates the dynamics of cross-listing and dividend policy. Using a sample of 19,200 firm-year observations for the period 1990–2019, we find that cross-listed firms are less likely to distribute dividends, adopt more stable policy and pay more cash compared to their non-cross-listed peers. We also show that firms originated from poor legal environment have a stable policy and pay more dividend. Finally, we find that cross-listed firms with more dividend payment exhibit higher valuations.
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页码：69 / 83
页数：14
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