search query: @indexterm legal systems / total: 27
reference: 6 / 27
| Author: | Farinha, J. Lopez-de-Foronda, O. |
| Title: | The relation between dividends and insider ownership in different legal systems: international evidence |
| Journal: | European Journal of Finance
2009 : JAN/FEB, VOL. 15:1-2, p. 169-189 |
| Index terms: | corporate governance financial markets dividend policy legal systems companies international |
| Freeterms: | insider ownership |
| Language: | eng |
| Abstract: | In this paper, new international evidence on the relationship btw. dividend policy and insider ownership is provided. Analyzed is a sample of USA, UK and Irish firms characterized by an Anglo-Saxon (here as: A-S.) tradition and a matching sample of other EU companies from Civil Law (as: C-L.) legal systems. It is found that while in firms with an A-S. tradition the relation btw. dividends and insider ownership follows the pattern negative-positive-negative, in C-L. countries the relation is positive-negative-positive. These results are consistent with the hypotheses. |
SCIMA