Catering and dividend policy:Evidence from the Netherlands over the twentieth century
This article investigates the determinants of Dutch firms' dividend policies in the twentieth century. We identify three distinct episodes and document shifts in dividend policies in the 1930s and 1980s, because firm managers cater to the changing preferences of shareholders. The first episode, prior to World War II, was characterised by dividends that were fixed contracts between shareholder and management and the payouts were mechanically determined by earnings. The second epoch of Dutch dividend policy, until the 1980s, was characterised by dividend smoothing. Dividends were still strongly... Mehr ...
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Dokumenttyp: | Artikel |
Erscheinungsdatum: | 2020 |
Reihe/Periodikum: | De Jong , A , Fliers , P & Van Beusichem , H 2020 , ' Catering and dividend policy : Evidence from the Netherlands over the twentieth century ' , Financial History Review , vol. 26 , no. 3 , pp. 321-358 . https://doi.org/10.1017/S0968565019000209 |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-27617483 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | https://pure.eur.nl/en/publications/50111536-9ae3-48f6-9244-d6fed741b0e5 |