Managerial Overconfidence and Dividend Stickiness

Lin, James Juichia; Yu, Min‐Teh

doi:10.1177/0148558x221150102

Cited by 2 publications

(1 citation statement)

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“…Для некоммерческой организации определение целевого капитала приведено в законе 10 , он представляет собой часть имущества, формируемого и пополняемого за счет пожертвований, и (или) за счет имущества, полученного по завещанию. Также за счет неиспользованного дохода от доверительного управления имуществом, полученным по завещанию и переданного некоммерческой организацией в доверительное управление управляющей компании в целях получения дохода, используемого для финансирования уставной деятельности такой некоммерческой организации.…”

Section: особенности идентификации источников финансирования деятельн...unclassified

Sources of Financing Activities in the Reporting of Economic Entities of Various Groups

Sviridova¹,

Terentyeva²

2023

I.I.I

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Abstract. The paper studies the issues of compiling accounting forms for groups of economic entities (commercial organizations of the real sector, non-profit organizations of the real and public sector, organizations of the public sector), taking into account the peculiarities of disclosing information about the sources of financing of their activities for the purpose of external and internal control of the reliability of information. An assessment is made of the content of the current state of the regulatory framework for the preparation of financial statements by various groups of economic entities in terms of reflecting sources of financing in it, in order to control the reliability of information. The methodological basis of the work was the general scientific principles and methods of research: analysis and synthesis, logical linking, systematization. The author’s systematization of regulatory regulation in relation to the requirements for information on sources of financing disclosed in the balance sheet is presented, taking into account the characteristics of subjects of the commercial, public and public sectors of the economy, and a classification of their reporting forms is carried out. The shortcomings of the normative regulation of reporting were identified and proposals were developed for their elimination. The grouping of forms of financial statements depending on the groups of economic entities that have essentially different sources of financing activities is given. A critical assessment of the procedure for compiling the balance sheet and reflecting in it information about the sources of financing for the activities of non-profit organizations and public sector organizations is given. It is necessary to change the conceptual approaches to the disclosure of information about the source of funding for the activities of public sector organizations in order to strengthen external financial control. The proposed author’s approach to identifying sources of financing for the activities of various groups of economic entities, and reflecting information about this object in their balance sheet, can be implemented both in the process of improving legal regulation and in the process of reporting by economic entities, especially for public sector organizations. The main results obtained by the authors allow a professional accountant to adequately implement the requirements of federal standards regarding the reflection of information about sources of financing in the reports of economic entities of various groups and control the reliability of this information.

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Section: особенности идентификации источников финансирования деятельн...unclassified

Sources of Financing Activities in the Reporting of Economic Entities of Various Groups

Sviridova¹,

Terentyeva²

2023

I.I.I

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When shareholder power kicks in: corporate financialization as ratchet behaviour and sticky payouts

Mertens

2024

Socio-Economic Review

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The rise of payout ratios has been ascribed by financialization scholars to shareholder value orientation (SVO), a governance practice associated with dire consequences. However, it remains unclear how SVO translates into the behaviour that causes these consequences. Yet, identifying behaviour would not only allow us to causally infer what SVO entails for other firm stakeholders and wider society but also to unearth the institutional configurations that catalyse or inhibit it. Using data on all stock-listed firms in the world from 1985 to 2023 this article shows that SVO operates through ratchet behaviour, where shareholders refuse to yield ground when profits decrease. I first illustrate theoretically how this downward rigidity of shareholder remuneration ratchets up payout ratios and structures aggregate payout ratios along the lines of the frequency of ratchet behaviour. Finally, staggered difference-in-differences show that ratchet events indeed cause firms to exhibit persistently higher payout ratios for a decade.

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Managerial Overconfidence and Dividend Stickiness

Cited by 2 publications

References 47 publications

Sources of Financing Activities in the Reporting of Economic Entities of Various Groups

Sources of Financing Activities in the Reporting of Economic Entities of Various Groups

When shareholder power kicks in: corporate financialization as ratchet behaviour and sticky payouts

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