search query: @author Kang, S. / total: 6
reference: 3 / 6
| Author: | Cyert, R. Kang, S. Kumar, P. |
| Title: | Managerial objectives and firm dividend policy: a behavioral theory and empirical evidence |
| Journal: | Journal of Economic Behavior and Organization
1996 : NOV, VOL. 31:2, p. 157-174 |
| Index terms: | ECONOMICS ECONOMIC BEHAVIOUR DIVIDENDS |
| Language: | eng |
| Abstract: | The authors construct a dynamical model of firm dividend policy based on some basic ingredients of the behavioral theory of the firm, in particular, uncertainty avoidance and sequential decision-making by self-seeking managers. They characterise the optimal dividend policy and show that comparative statics on this policy generate restrictions on the relation of the likelihood of future dividend changes with respect to current real and financial variables such as investments, dividends, and technological parameters that govern the evolution of economic earnings of the firm. |
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