CEO marital status and dividend policy

Hossain, Md Noman; Rabarison, Monika K.; Ater, Brandon; Sobngwi, Christian K.

doi:10.1016/j.jcorpfin.2022.102342

Cited by 11 publications

(2 citation statements)

References 61 publications

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“…Firms run by a single CEO are found to be less likely to pay dividends. The above relationship is stronger for single CEOs who are more adventurous, lower paid, less sensitive to pay performance, conservative or less involved in corporate social responsibility activities [4] .…”

Section: Factors Affecting Dividend Distribution Policymentioning

confidence: 97%

Fujian Shengnong Development Dividend Distribution Study

Yuan,

Zhang

2023

AJST

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Fujian Shengnong Development Dividend Distribution Research Fujian Shengnong Development Co., Ltd. is a leading enterprise in the national agricultural products industry and a leading enterprise in the agricultural products industry, and it is named Shengnong Development under the stock code 002299. Ltd. has formed a series of important characteristics such as high degree of product standardization, good quality of chicken meat, relatively stable delivery assurance ability, and strong responsiveness, etc. Shengong Development Co., Ltd. has developed into a strategic partner of Yum's chicken products, and it is an important source of suppliers to China's food and beverage companies. The effect of dividend distribution policy affects the operation of the whole company, which requires Shengnong Development Co. to make a scientific decision on dividend distribution. This case collects data on dividend distribution of Shengnong Development Co. during the six years of listing from 2016-2021, and analyzes the reasons for Shengnong Development Co.'s implementation of the dividend policy as well as the financial effects.

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Section: Factors Affecting Dividend Distribution Policymentioning

confidence: 97%

Fujian Shengnong Development Dividend Distribution Study

Yuan,

Zhang

2023

AJST

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“…Our results show that single-CEO firms are more prone to agency problems. 2019), insider trading (Hegde et al, 2022) and dividend policy (Hossain et al, 2023).…”

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confidence: 99%

Is Marriage a Turning Point? Evidence from Cash Holdings Behaviour

Mamun

Boubaker

Ghafoor

et al. 2023

British J of Management

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Given that marriage transforms people, with wide‐ranging and long‐lasting impacts, we examine the role of CEOs' marital status on firms' cash holdings behaviour. Using a large sample of US‐listed firms, we find that single CEOs stockpile more cash than their married counterparts do. Our finding is robust to controlling for various CEO characteristics, CFO influence, tackling endogeneity concerns and using alternative measures of cash. Moreover, we show that exogenous CEO turnover resulting in appointments of single (married) CEOs increases (decreases) cash holdings. Additional results show that single‐CEO firms practise a more conservative payout policy and save more cash from operating and financing cash flows. Consistent with agency theory, single CEOs extract more compensation from the accumulated cash, leading to a lower value of cash holdings. External corporate governance mechanisms mitigate the relationship between single CEOs and cash holdings. Our results show that single‐CEO firms are more prone to agency problems.

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