1 |
Forti, C. A. B., Peixoto, F. M., & Alves, D. Le. (2015). Fatores determinantes do pagamento de dividendos no Brasil. Revista Contabilidade and Financas, 26(68), 167-180. https://doi.org/10.1590/1808-057x201512260
DOI
|
2 |
Gomez-Mejia, L. R., Nunez-Nickel, M., & Gutierrez, I. (2001). The role of family ties in agency contracts. Academy of Management Journal, 44(1), 81-95.
|
3 |
Gordon, M. J. (1959). Dividends, earnings, and stock prices. Review of Economics and Statistics, 41(2), 99-105. https://doi.org/10.2307/1927792
DOI
|
4 |
Grullon, G., Michaely, R., & Swaminathan, B. (2002). Are dividend changes a sign of firm maturity? Journal of Business, 75(3), 387-424. https://doi.org/10.1086/339889
DOI
|
5 |
Gupta, A., & Banga, C. (2010). The determinants of corporate dividend policy. Decision, 37(2), (0304-0941).
|
6 |
Ho, J. L., & Kang, F. (2013). Auditor choice and audit fees in family firms: Evidence from the S&P 1500. Auditing: a Journal of Practice and Theory, 32(4), 71-93. https://doi.org/10.2308/ajpt-50533
DOI
|
7 |
Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. SSRN Electronic Journal, 76(2), 323-329. https://doi.org/10.2139/ssrn.99580
DOI
|
8 |
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4), 305-360. https://doi.org/10.1016/0304-405X(76)90026-X
DOI
|
9 |
Kanakriyah, R. (2020). Dividend policy and companies' financial performance. Journal of Asian Finance, Economics, and Business, 7(10), 531-541. https://doi.org/10.13106/jafeb.2020.vol7.no10.531
DOI
|
10 |
Kevin, S. (1992). Dividend policy: An analysis of some determinants. Finance India, 6(2), 253-259.
|
11 |
Kusnadi, Y. (2011). Do corporate governance mechanisms matter for cash holdings and firm value? Pacific-Basin Finance Journal, 19(5), 554-570. https://doi.org/10.1016/j.pacfin.2011.04.002
DOI
|
12 |
Manos, R., Murinde, V., & Green, C. J. (2012). Dividend policy and business groups: Evidence from Indian firms. International Review of Economics and Finance, 21(1), 42-56. https://doi.org/10.1016/j.iref.2011.05.002
DOI
|
13 |
Faccio, M., & Lang, L. H. P. (2000). Separation of ownership from control: An analysis of ultimate ownership in Western Europe. HK: Chinese University of Hong Kong.
|
14 |
Bertrand, M., & Schoar, A. (2006). The role of the family in family firms. Journal of Economic Perspectives, 20(2), 73-96. https://doi.org/10.1257/jep.20.2.73
DOI
|
15 |
Griffin, P. A., Lont, D. H., & Sun, Y. (2010). Agency problems and audit fees: Further tests of the free cash flow hypothesis. Accounting and Finance, 50(2), 321-350. https://doi.org/10.1111/j.1467-629X.2009.00327.x
DOI
|
16 |
Richardson, S. (2006). Over-investment of free cash flow. Review of Accounting Studies, 11(2-3), 159-189. https://doi.org/10.1007/s11142-006-9012-1
DOI
|
17 |
Bhat, R., & Pandey, I. M. (1994). Dividend decision: A study of managers perception. NY: Springer.
|
18 |
La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (1999). Corporate ownership around the world. Journal of Finance, 54(2), 471-517. https://doi.org/10.1111/0022-1082.00115
DOI
|
19 |
Lintner, J. (1956). Distribution of incomes of corporations among dividends retained earnings and taxes. American Economic Review, 46(2), 97-113.
|
20 |
Madyan, M., Setiawan, W. R., Setianto, R. H., Al-Islami, M. A. L. I. F., & Shidiq, H. A. (2021). The relationship between family ownership, CEO demographic characteristics and dividend policy: Evidence from Indonesia. Journal of Asian Finance, Economics, and Business, 8(12), 159-167. https://doi.org/10.13106/jafeb.2021.vol8.no12.0159
DOI
|
21 |
Benartzi, S., Michaely, R., & Thaler, R. (1997). Do changes in dividends signal the future or the past? Journal of Finance, 52(3), 1007-1034. https://doi.org/10.1111/j.1540-6261.1997.tb02723.x
DOI
|
22 |
Abdelsalam, O., El-Masry, A., & Elsegini, S. (2008). Board composition, ownership structure, and dividend policies in an emerging market. Managerial Finance, 34(12), 953-964. https://doi.org/10.1108/03074350810915879
DOI
|
23 |
Nizar Al-Malkawi, H. N. (2007). Determinants of corporate dividend policy in Jordan: An application of the Tobit model. Journal of Economic and Administrative Sciences, 23(2), 44-70. https://doi.org/10.1108/10264116200700007
DOI
|
24 |
Baker, H. K., & Kapoor, S. (2015). Dividend policy in India: New survey evidence. Managerial Finance, 41(2), 182-204. https://doi.org/10.1108/MF-01-2014-0024
DOI
|
25 |
Cleary, S. (2006). International corporate investment and the relationships between financial constraint measures. Journal of Banking and Finance, 30(5), 1559-1580. https://doi.org/10.1016/j.jbankfin.2005.03.023
DOI
|
26 |
Pattiruhu, J. R., & Paais, M. (2020). Effect of liquidity, profitability, leverage, and firm size on dividend policy. Journal of Asian Finance, Economics, and Business, 7(10), 35-42. https://doi.org/10.13106/jafeb.2020.vol7.no10.035
DOI
|
27 |
Gugler, K. (2003). Corporate governance, dividend payout policy, and the interrelation between dividends, R&D, and capital investment. Journal of Banking and Finance, 27(7), 1297-1321. https://doi.org/10.1016/S0378-4266(02)00258-3
DOI
|
28 |
Scott, J. H. (1977). Bankruptcy, secured debt, and optimal capital structure. Journal of Finance, 32(1), 1-19. https://doi.org/10.1111/j.1540-6261.1977.tb03237.x
DOI
|
29 |
Thanatawee, Y. (2011). Life-cycle theory and free cash flow hypothesis: Evidence from dividend policy in Thailand. International Journal of Financial Research, 2(2), 52. https://doi.org/10.5430/ijfr.v2n2p52
DOI
|
30 |
Miller, M. H., & Modigliani, F. (1961). Dividend policy, growth, and the valuation of shares. Journal of Business, 34(4), 411-433. https://doi.org/10.1086/294442
DOI
|
31 |
Ramli, N. M. (2010). Ownership structure and dividend policy: Evidence from Malaysian companies. International Review f Business Research Papers, 6, 1, 170-180.
|
32 |
Ranajee, R., Pathak, R., & Saxena, A. (2018). To pay or not to pay: What matters the most for dividend payments? International Journal of Managerial Finance, 14(2), 230-244. https://doi.org/10.1108/IJMF-07-2017-0144
DOI
|
33 |
Roy, A. (2015). Dividend policy, ownership structure and corporate governance: An empirical analysis of Indian firms. Indian Journal of Corporate Governance, 8(1), 1-33. https://doi.org/10.1177/0974686215574422
DOI
|
34 |
Mahapatra, R. P., & Sahu, P. K. (1993). A note on determinants of corporate dividend behavior in India-An econometric analysis. Decision, 20(1), 1.
|
35 |
Adaoglu, C. (2000). Instability in the dividend policy of the Istanbul Stock Exchange (ISE) corporations: Evidence from an emerging market. Emerging Markets Review, 1(3), 252-270. https://doi.org/10.1016/S1566-0141(00)00011-X
DOI
|
36 |
Jensen, G. R., Solberg, D. P., & Zorn, T. S. (1992). Simultaneous determination of insider ownership, debt, and dividend policies. Journal of Financial and Quantitative Analysis, 27(2), 247-263. https://doi.org/10.2307/2331370
DOI
|
37 |
Kadioglu, E., & Yilmaz, E. A. (2017). Is the free cash flow hypothesis valid in Turkey? Borsa Istanbul Review, 17(2), 111-116. https://doi.org/10.1016/j.bir.2016.12.001
DOI
|
38 |
Kumar, J. (2006). Ownership structure and dividend payout policy in India. Journal of Emerging Market Finance, 5(1), 15-58. https://doi.org/10.1177/097265270500500102
DOI
|
39 |
Labhane, N. B., & Mahakud, J. (2016). Determinants of dividend policy of Indian companies: A panel data analysis. Paradigm, 20(1), 36-55. https://doi.org/10.1177/0971890716637698
DOI
|
40 |
Raghunathan, V., & Das, P. (1999). Corporate performance-post liberalization. ND: Tata McGraw
|
41 |
Andres, C. (2008). Large shareholders and firm performance: An empirical examination of founding-family ownership. Journal of Corporate Finance, 14(4), 431-445. https://doi.org/10.1016/j.jcorpfin.2008.05.003
DOI
|
42 |
Walter, J. E. (1956). Dividend policies and common stock prices. Journal of Finance, 11(1), 29-41. https://doi.org/10.1111/j.1540-6261.1956.tb00684.x
DOI
|
43 |
Denis, D. J., & Osobov, I. (2008). Why do firms pay dividends? International evidence on the determinants of dividend policy*. Journal of Financial Economics, 89(1), 62-82. https://doi.org/10.1016/j.jfineco.2007.06.006
DOI
|
44 |
Rozeff, M. S. (1982). Growth, beta, and agency costs as determinants of dividend payout ratios. Journal of Financial Research, 5(3), 249-259. https://doi.org/10.1111/j.1475-6803.1982.tb00299.x
DOI
|
45 |
Sharma, D. K., & Wadhwa, R. (2013). Ownership structure and dividend policy-A study of Bombay Stock Exchange-500. Global Journal of Management and Business Studies, 3(4), 429-434.
|
46 |
Faccio, M., & Lang, L. H. P. (2002). The ultimate ownership of Western European corporations. Journal of Financial Economics, 65(3), 365-395. https://doi.org/10.1016/S0304-405X(02)00146-0
DOI
|
47 |
Glen, J. D., Karmokolias, Y., Miller, R. R., & Shah, S. (1995). Dividend policy and behavior in emerging markets: To pay or not to pay. Washington DC: World Bank.
|
48 |
Gordon, M. J. (1962). The investment, financing, and valuation of the corporation. Illinois: Irwin Publishing, Inc.
|
49 |
Abor, J., & Bokpin, G. A. (2010). Investment opportunities, corporate finance, and dividend payout policy. Studies in Economics and Finance, 27(3), 180-194. https://doi.org/10.1108/10867371011060018
DOI
|
50 |
Anderson, R. C., & Reeb, D. M. (2003). Founding-family ownership, corporate diversification, and firm leverage. Journal of Law and Economics, 46(2), 653-684. https://doi.org/10.1086/377115
DOI
|
51 |
Baker, H. K., Veit, E. T., & Powell, G. E. (2001). Factors influencing dividend policy decisions of Nasdaq firms. Financial Review, 36(3), 19-38. https://doi.org/10.1111/j.1540-6288.2001.tb00018.x
DOI
|
52 |
Wei, Z., Wu, S., Li, C., & Chen, W. (2011). Family control, institutional environment and cash dividend policy: Evidence from China. China Journal of Accounting Research, 4(1-2), 29-46. https://doi.org/10.1016/j.cjar.2011.04.001
DOI
|
53 |
Singhania, M., & Gupta, A. (2012). Determinants of corporate dividend policy: A Tobit model approach. Vision, 16(3), 153-162. https://doi.org/10.1177/0972262912460152
DOI
|
54 |
Villalonga, B., & Amit, R. (2006). How do family ownership, control, and management affect firm value? Journal of Financial Economics, 80(2), 385-417. https://doi.org/10.1016/j.jfineco.2004.12.005
DOI
|
55 |
Villalonga, B., & Amit, R. (2010). Family control of firms and industries. Financial Management, 39(3), 863-904. https://doi.org/10.1111/j.1755-053X.2010.01098.x
DOI
|
56 |
Yusof, Y., & Ismail, S. (2016). Determinants of dividend policy of public listed companies in Malaysia. Review of International Business and Strategy, 26(1), 88-99. https://doi.org/10.1108/RIBS-02-2014-0030
DOI
|
57 |
Das, S. (2017). Firm characteristics and dividend policy in India. Transnational Corporations Review, 9(3), 190-200. https://doi.org/10.1080/19186444.2017.1362862
DOI
|
58 |
Bernstein, P. L. (1998). The hidden risks in low payouts. Journal of Portfolio Management, 25(1), 1. https://doi.org/10.3905/jpm.25.1.1
DOI
|
59 |
Chay, J. B., & Suh, J. (2009). Payout policy and cash-flow uncertainty. Journal of Financial Economics, 93(1), 88-107. https://doi.org/10.1016/j.jfineco.2008.12.001
DOI
|
60 |
Claessens, S., Djankov, S., & Lang, L. H. P. (2000). The separation of ownership and control in East Asian corporations. Journal of Financial Economics, 58(1-2), 81-112. https://doi.org/10.1016/S0304-405X(00)00067-2
DOI
|
61 |
DeAngelo, H., DeAngelo, L., & Stulz, R. M. (2006). Dividend policy and the earned/contributed capital mix: A test of the lifecycle theory. Journal of Financial Economics, 81(2), 227-254. https://doi.org/10.1016/j.jfineco.2005.07.005
DOI
|
62 |
Mulyani, E., Singh, H., & Mishra, S. (2016). Dividends, leverage, and family ownership in the emerging Indonesian market. Journal of International Financial Markets, Institutions, and Money, 43, 16-29. https://doi.org/10.1016/j.intfin.2016.03.004
DOI
|
63 |
Dewasiri, N. J., Yatiwelle Koralalage, W. B., Abdul Azeez, A., Jayarathne, P. G. S. A., Kuruppuarachchi, D., & Weerasinghe, V. A. (2019). Determinants of dividend policy: Evidence from an emerging and developing market. Managerial Finance, 45(3), 413-429. https://doi.org/10.1108/MF-09-2017-0331
DOI
|
64 |
Baltagi, B. H., & Baltagi, B. H. (2008). Econometric analysis of panel data. NY: Springer.
|
65 |
Mohanty, P. (1999). Dividend and bonus policies of Indian companies: An analysis. Vikalpa: The Journal for Decision Makers, 24(4), 35-42. https://doi.org/10.1177/0256090919990406
DOI
|
66 |
Fairchild, R., Guney, Y., & Thanatawee, Y. (2014). Corporate dividend policy in Thailand: Theory and evidence. International Review of Financial Analysis, 31, 129-151. https://doi.org/10.1016/j.irfa.2013.10.006
DOI
|