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Cost Stickiness, Firm’s Dividend Payouts, and Family Ownership

Author

Listed:
  • Ali Amin

    (Lahore Business School, University of Lahore, Lahore, Pakistan)

  • Rizwan Ali

    (Lahore Business School, University of Lahore, Lahore, Pakistan)

  • Ramiz ur Rehman

    (Lahore Business School, University of Lahore, Lahore, Pakistan)

Abstract

No abstract is available for this item.

Suggested Citation

  • Ali Amin & Rizwan Ali & Ramiz ur Rehman, 2022. "Cost Stickiness, Firm’s Dividend Payouts, and Family Ownership," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 27(1), pages 116-133, Jan-June.
    • Handle: RePEc:lje:journl:v:27:y:2022:i:1:p:116-133
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    File URL: https://lahoreschoolofeconomics.edu.pk/assets/uploads/lje/Volume27/05_Ali_Amin,_Rizwan_Ali_and_Ramiz_ur_Rehman.pdf
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    References listed on IDEAS

    as
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    2. Anh Huu Nguyen & Duong Thuy Doan & Linh Ha Nguyen, 2020. "Corporate Governance and Agency Cost: Empirical Evidence from Vietnam," JRFM, MDPI, vol. 13(5), pages 1-15, May.
    3. Malcolm Baker & Brock Mendel & Jeffrey Wurgler, 2016. "Dividends as Reference Points: A Behavioral Signaling Approach," The Review of Financial Studies, Society for Financial Studies, vol. 29(3), pages 697-738.
    4. Shleifer, Andrei & Vishny, Robert W, 1986. "Large Shareholders and Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages 461-488, June.
    5. 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.
    6. Chung, Chune Young & Hur, Seok-Kyun & Liu, Chang, 2019. "Institutional investors and cost stickiness: Theory and evidence," The North American Journal of Economics and Finance, Elsevier, vol. 47(C), pages 336-350.
    7. Gugler, Klaus, 2003. "Corporate governance, dividend payout policy, and the interrelation between dividends, R&D, and capital investment," Journal of Banking & Finance, Elsevier, vol. 27(7), pages 1297-1321, July.
    8. Jie He & Xuan Tian & Huan Yang & Luo Zuo, 2020. "Asymmetric Cost Behavior and Dividend Policy," Journal of Accounting Research, Wiley Blackwell, vol. 58(4), pages 989-1021, September.
    9. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    10. Mark C. Anderson & Rajiv D. Banker & Surya N. Janakiraman, 2003. "Are Selling, General, and Administrative Costs “Sticky”?," Journal of Accounting Research, Wiley Blackwell, vol. 41(1), pages 47-63, March.
    11. Owusu-Gyapong, Anthony, 1986. "Alternative Estimating Techniques for Panel Data on Strike Activity," The Review of Economics and Statistics, MIT Press, vol. 68(3), pages 526-531, August.
    12. Hwang, Lee-Seok & Kim, Hakkon & Park, Kwangwoo & Park, Rae Soo, 2013. "Corporate governance and payout policy: Evidence from Korean business groups," Pacific-Basin Finance Journal, Elsevier, vol. 24(C), pages 179-198.
    13. Clara Xiaoling Chen & Hai Lu & Theodore Sougiannis, 2012. "The Agency Problem, Corporate Governance, and the Asymmetrical Behavior of Selling, General, and Administrative Costs," Contemporary Accounting Research, John Wiley & Sons, vol. 29(1), pages 252-282, March.
    14. Toru Yoshikawa & Abdul A. Rasheed, 2010. "Family Control and Ownership Monitoring in Family‐Controlled Firms in Japan," Journal of Management Studies, Wiley Blackwell, vol. 47(2), pages 274-295, March.
    15. Michael Carney & Eric Gedajlovic, 2002. "The Coupling of Ownership and Control and the Allocation of Financial Resources: Evidence from Hong Kong," Journal of Management Studies, Wiley Blackwell, vol. 39(1), pages 123-146, January.
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    More about this item

    Keywords

    Cost stickiness; dividend payout; agency theory;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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