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| Author: | Brav, A. (et al.) |
| Title: | Payout policy in the 21st century |
| Journal: | Journal of Financial Economics
2005 : SEP, VOL. 77:3, p. 483-527 |
| Index terms: | dividend policy |
| Freeterms: | payout share repurchasing |
| Language: | eng |
| Abstract: | 384 financial executives are surveyed and in-depth interviews are conducted with an additional 23 to determine the factors that drive dividend and share repurchase decisions. The results show that maintaining the dividend level on par with investment decisions, while repurchases are made out of the residual cash flow after investment spending. |
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