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Le capitalisme familial, dans un contexte français, induit-il moins de dividendes que les autres formes d'actionnariat?

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  • Monique Calvi-Reveyron

    (Université de Savoie)

Abstract

This paper presents the results of an empirical study which had been realized on French quoted firms. This research aims at explaining the firm dividend level by insider equity and the dispersion of shareholders and relies on agency theory. The results show that insider equity is negatively related to the pay out ratio and that family firms have lower levels of dividends than managerial and controlled ones. But the dispersion of shareholders doesn't affect the pay out ratio.

Suggested Citation

  • Monique Calvi-Reveyron, 2000. "Le capitalisme familial, dans un contexte français, induit-il moins de dividendes que les autres formes d'actionnariat?," Revue Finance Contrôle Stratégie, revues.org, vol. 3(1), pages 81-116, March.
    • Handle: RePEc:dij:revfcs:v:3:y:2000:i:q1:p:81-116
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    References listed on IDEAS

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