Dividends and Taxes: The Moderating Role of Agency Conflicts

Bērziņš, Jānis; Bøhren, Øyvind; Stacescu, Bogdan

doi:10.2139/ssrn.2973551

Cited by 6 publications

(10 citation statements)

References 40 publications

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“…Firms pay higher dividends when facing increased demand from controlling shareholders than when the demand is from minority investors. Berzins et al (2019) also find a reduced dividend-tax sensitivity for firms with more conflicts of interest. Dividends drop less for firms with higher potential conflicts between controlling and minority shareholders after Norway's dividend tax rate increase.…”

Section: Catering Theory Of Dividend Policymentioning

confidence: 75%

Relationship between Orthodox Finance and Dividend Policy: A Literature Review

Hasan

2021

IPJAF

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This paper concentrates on the relationship between orthodox (corporate) finance and dividend policy. More specifically, the paper examines the relationship between different dividend policy theories and dividend policy. This paper also investigates the association between different corporate finance elements and dividend policy. The primary purpose of this paper is to put some light on the dividend literature, which means how dividend literature developed over the year. However still, the dividend policy is a puzzle for researchers. From the previous literature survey, we can see that after so much constrictive research, researchers still did not reach any conclusion. This paper provides details about previous literature reviews in the area of dividend policy.

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Section: Catering Theory Of Dividend Policymentioning

confidence: 75%

Relationship between Orthodox Finance and Dividend Policy: A Literature Review

Hasan

2021

IPJAF

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“…Therefore, we can measure ultimate ownership, which is the owner's direct equity stake plus the indirect stake owned through corporate intermediaries. Accounting for indirect ownership is particularly important in our sample period, as the number of holding companies more than tripled in 2005, when increased dividend taxation for persons discouraged the use of direct ownership (Berzins, Bøhren, and Stacescu, 2018a). Similarly, ship-owners reorganized their corporate groups in order to adapt to the new tax regime for ship-owning firms in 2007.…”

Section: The Ownership Structurementioning

confidence: 99%

Chapter 7: The under-researched family firm: New insights from unique Norwegian data

Bērziņš¹,

Bøhren²,

Stacescu³

2018

At the Forefront, Looking Ahead

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This chapter reports main findings from a comprehensive study of how Norwegian family firms are governed and how they behave and perform as economic entities. Analyzing all firms from 2000 to 2015, we show that the family firm represents the most widespread way of organizing economic activity, and that family firms differ fundamentally from other firms. Our results suggest that deeper insight into the economics of family firms may make the firms better, and the public debate more informed.

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“…The stability of dividend distribution maintained by an industry will result in increasing investor confidence in the industry, because it will reduce investor uncertainty in investing their funds (Chiou & Shu, 2019;Sara et al, 2020). To reduce this uncertainty until the industry makes a policy to override dividend payments, where the policy is often known as dividend policy (Berzins et al, 2019;Jensen, 2005a). It is necessary to pay close attention to the industry in deciding whether the surplus will be distributed as dividends or tolerate the surplus for re-investment in projects that have the potential to share profits in increasing development and industrial improvement efforts (Larasdiputra et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

The Effect of Debt To Equity Ratio, Total Asset Turnover, Return On Assets And Return On Equity On Dividend Policy In Manufacturing Companies

PURWANTO

Sanjaya

Kawisana

2021

JTEP

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An industry has a clear goal, which is to reap profits in each of its performances, the profits generated by the industry in its performance cannot be separated from the donations of financial managers. The purpose of this study is to find out that dividend policy can increase business growth and development. The study method uses secondary data, obtained from the annual report of each industry with the year published 2015, 2016, 2017, 2018 and 2019. The total population of 182 obtained by 25 industries as an illustration with a year of observation as far as 5 years, so that an illustration of as many as 182 is obtained. 125 observations. The conclusions obtained in the results of this study that investors and potential corporate investors will be more careful and also pay attention to financial ratios that can be considered in carrying out investments.

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Dividends and Taxes: The Moderating Role of Agency Conflicts

Cited by 6 publications

References 40 publications

Relationship between Orthodox Finance and Dividend Policy: A Literature Review

Relationship between Orthodox Finance and Dividend Policy: A Literature Review

Chapter 7: The under-researched family firm: New insights from unique Norwegian data

The Effect of Debt To Equity Ratio, Total Asset Turnover, Return On Assets And Return On Equity On Dividend Policy In Manufacturing Companies

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