Does Profitability Moderate the Relationship Between the Leverage and Dividend Policy of Manufacturing Firms in Nigeria and South Africa?
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
- Mitchell A. Petersen, 2009.
"Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches,"
The Review of Financial Studies, Society for Financial Studies, vol. 22(1), pages 435-480, January.
- Mitchell A. Petersen, 2005. "Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches," NBER Working Papers 11280, National Bureau of Economic Research, Inc.
- Hidayati Nur Rochmah & Ardianto Ardianto, 2020. "Catering dividend: Dividend premium and free cash flow on dividend policy," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1812927-181, January.
- Jensen, Gerald R. & Solberg, Donald P. & Zorn, Thomas S., 1992. "Simultaneous Determination of Insider Ownership, Debt, and Dividend Policies," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 27(2), pages 247-263, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Chowdhury, Biplob & Dungey, Mardi & Pham, Thu Phuong, 2014. "The impact of post-IPO changes in corporate governance mechanisms on firm performance: evidence from young Australian firms," Working Papers 2014-11, University of Tasmania, Tasmanian School of Business and Economics, revised 24 Sep 2014.
- Yasuharu Aoki, 2014. "How Does the Largest Shareholder Affect Dividends?," International Review of Finance, International Review of Finance Ltd., vol. 14(4), pages 613-645, December.
- Aoki, Yasuharu, 2023. "The effect of dividend smoothing on bond spreads: Evidence from Japan," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 621-637.
- Ma, Xiaotao & Liu, Huifang & Wang, Xinya, 2024. "Control rights and cash dividends: A moderating effect of product market competition," Finance Research Letters, Elsevier, vol. 65(C).
- James, Hui & Benson, Bradley W. & Wu, Chen (Ken), 2017. "Does CEO ownership affect payout policy? Evidence from using CEO scaled wealth-performance sensitivity," The Quarterly Review of Economics and Finance, Elsevier, vol. 65(C), pages 328-345.
- Chan-Jane Lin & Tawei Wang & Chao-Jung Pan, 2016. "Financial reporting quality and investment decisions for family firms," Asia Pacific Journal of Management, Springer, vol. 33(2), pages 499-532, June.
- Xin Qu & Majella Percy & Fang Hu & Jenny Stewart, 2022. "Can CEO equity‐based compensation limit investment‐related agency problems?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(2), pages 2579-2614, June.
- Manhwa Wu & Paoyu Huang & Yensen Ni, 2020. "The Impact of Institutional Shareholdings on Price Limits," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 27(3), pages 343-361, September.
- Henrik Cronqvist & Fredrik Heyman & Mattias Nilsson & Helena Svaleryd & Jonas Vlachos, 2009.
"Do Entrenched Managers Pay Their Workers More?,"
Journal of Finance, American Finance Association, vol. 64(1), pages 309-339, February.
- Vlachos, Jonas & Nilsson, Mattias & Svaleryd, Helena & Cronqvist, Henrik & Heyman, Fredrik, 2005. "Do Entrenched Managers Pay Their Workers More?," CEPR Discussion Papers 5371, C.E.P.R. Discussion Papers.
- Cronqvist, Henrik & Heyman, Fredrik & Nilsson, Mattias & Svaleryd, Helena & Vlachos, Jonas, 2006. "Do Entrenched Manager Pay Their Workers More?," SIFR Research Report Series 47, Institute for Financial Research.
- Cronqvist, Henrik & Heyman, Fredrik & Nilsson, Mattias & Svaleryd, Helena & Vlachos, Jonas, 2007. "Do Entrenched Managers Pay Their Workers More?," Working Paper Series 2007-7, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Cronqvist, Henrik & Heyman, Fredrik & Nilsson, Mattias & Svaleryd, Helena & Vlachos, Jonas, 2006. "Do Entrenched Managers Pay Their Workers More?," Working Paper Series 2005-23, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Dittmar, Amy & Mahrt-Smith, Jan, 2007. "Corporate governance and the value of cash holdings," Journal of Financial Economics, Elsevier, vol. 83(3), pages 599-634, March.
- Chia-Ying Chan & Iftekhar Hasan & Chih-Yung Lin, 2021. "Agency cost of CEO perquisites in bank loan contracts," Review of Quantitative Finance and Accounting, Springer, vol. 56(4), pages 1221-1258, May.
- Erkan, Asligul & Nguyen, Trung, 2021. "Does inside debt help mitigate agency problems? The case with investment inefficiency and payout policies," Finance Research Letters, Elsevier, vol. 39(C).
- Ghosh, Saibal, 2007. "Leverage, managerial monitoring and firm valuation: A simultaneous equation approach," Research in Economics, Elsevier, vol. 61(2), pages 84-98, June.
- Wulung Li & Ramachandran Natarajan & Yan Zhao & Kenneth Zheng, 2021. "The effect of management control mechanisms through risk-taking incentives on asymmetric cost behavior," Review of Quantitative Finance and Accounting, Springer, vol. 56(1), pages 219-243, January.
- Pevzner, Mikhail & Xie, Fei & Xin, Xiangang, 2015. "When firms talk, do investors listen? The role of trust in stock market reactions to corporate earnings announcements," Journal of Financial Economics, Elsevier, vol. 117(1), pages 190-223.
- Khalil, Samer & Mansi, Sattar & Mazboudi, Mohamad & Zhang, Andrew (Jianzhong), 2019. "Information asymmetry and the wealth appropriation effect in the bond market: Evidence from late disclosures," Journal of Business Research, Elsevier, vol. 95(C), pages 49-61.
- Sanjiva Prasad & Christopher J. Green & Victor Murinde, 2005. "Company Financial Structure: A Survey and Implications for Developing Economies," Chapters, in: Christopher J. Green & Colin Kirkpatrick & Victor Murinde (ed.), Finance and Development, chapter 12, Edward Elgar Publishing.
- de La Bruslerie, Hubert, 2016.
"Does debt curb controlling shareholders' private benefits? Modelling in a contingent claim framework,"
Economic Modelling, Elsevier, vol. 58(C), pages 263-282.
- Hubert de La Bruslerie, 2016. "Does debt curb controlling shareholder's private benfits? Modelling in a contingent claim framework," Post-Print hal-01945646, HAL.
- Hu, Jun & Long, Wenbin & Luo, Le & Peng, Yuanhuai, 2021. "Share pledging and optimism in analyst earnings forecasts: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 132(C).
- Maria-Teresa Marchica, "undated". "Debt Maturity and the Characteristics of Ownership Structure: An Empirical Investigation of UK Firms," Discussion Papers 05/29, Department of Economics, University of York.
More about this item
Keywords
dividend policy; leverage; profitability; emerging markets; manufacturing firms;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:17:y:2024:i:12:p:563-:d:1545220. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.