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| Tekijä: | Fenn, G. W. Liang, N. |
| Otsikko: | Corporate payout policy and managerial stock incentives? |
| Lehti: | Journal of Financial Economics
2001 : APR, VOL. 60:1, p. 45-72 |
| Asiasana: | Dividends Stock options Incentives |
| Vapaa asiasana: | Share repurchases Executive stock options Stock incentives |
| Kieli: | eng |
| Tiivistelmä: | The authors examine how corporate payout policy is affected by managerial stock incentives using data on more than 1,100 nonfinancial firms during 1993-97. They find that management stock ownership is associated with higher payouts by firms with potentially the greatest agency problems those with low management stock ownership and few investment opportunities of high free cash flow. |
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