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| Author: | Koch, P. Shenoe, C. |
| Title: | The information content of dividend and capital structure politics |
| Journal: | Financial Management
1999 : WIN, VOL. 28:4, p. 16-35 |
| Index terms: | Dividends Capital structure of companies Agency theory Signaling |
| Language: | eng |
| Abstract: | The authors reexamine signaling and agency theories and argue that the free-cash-flow hypothesis implies a stronger information effect for both over- and underinvesting firms than for value-maximizing firms. The results indicate that dividend and capital structure policies interact to provide significant predictive information about future cash flow. |
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