Dividends And Dividend Policy
As part of the Robert W. Kolb Series in Finance, Dividends and
Dividend Policy aims to be the essential guide to dividends and
their impact on shareholder value. Issues concerning dividends and
dividend policy have always posed challenges to both academics and
professionals. While all the pieces to the dividend puzzle may not
be in place yet, the information found here can help you gain a
firm understanding of this dynamic discipline.
Comprising twenty-eight chapters–contributed by both top
academics and financial experts in the field–this
well-rounded resource discusses everything from corporate dividend
decisions to the role behavioral finance plays in dividend policy.
Along the way, you’ll gain valuable insights into the history,
trends, and determinants of dividends and dividend policy, and
discover the different approaches firms are taking when it comes to
dividends.
Whether you’re a seasoned financial professional or just
beginning your journey in the world of finance, having a firm
understanding of the issues surrounding dividends and dividend
policy is now more important than ever. With this book as your
guide, you’ll be prepared to make the most informed
dividend-related decisions possible–even in the most
challenging economic conditions.
The Robert W. Kolb Series in Finance is an unparalleled source
of information dedicated to the most important issues in modern
finance. Each book focuses on a specific topic in the field of
finance and contains contributed chapters from both respected
academics and experienced financial professionals.
Inhoudsopgave
Part I: Dividends and Dividend Policy: History, Trends, and Determinants
Chapter 1: Dividends and Dividend Policy: An Overview (H. Kent Baker).
Chapter 2: The Historical Evolution of Dividends (Erik Benrud).
Chapter 3: Trends in Dividends: Payers and Payouts (Christian Andres, André Betzer, Luis Correia da Silva, Marc Goergen).
Chapter 4: Factors Influencing Dividends (David J. Denis, Gohar G. Stepanyan).
Chapter 5: Cross-Country Determinants of Payout Policy: European Firms (Franck Bancel, Nalinaksha Bhattacharyya, Usha Mittoo).
Part II: Cash Dividends: Theoretical and Emperical Evidence
Chapter 6: Dividend Irrelevance Theory (James S. Ang, Stephen J. Ciccone).
Chapter 7: Residual Dividend Policy (David M. Smith).
Chapter 8: Taxes and Clientele Effects (Samir Saadi, Shantanu Dutta).
Chapter 9: Agency Costs and the Free Cash Flow Hypothesis (Tarun K. Mukherjee).
Chapter 10: Asymmetric Information and Signaling Theory (Greg Filbeck).
Chapter 11: Behavioral Explanations of Dividends (Hersh Shefrin).
Chapter 12: The Firm Life Cycle Theory of Dividends (Laarni T. Bulan, Narayanan Subramanian).
Chapter 13: The Catering Theory of Dividends (Margot de Rooij, Luc Renneboog).
Part III: Share Repurchases.
Chapter 14: Stock Repurchases: Theory and Evidence – Part 1 (Jim Hsieh, Qinghai Wang).
Chapter 15: Stock Repurchases: Theory and Evidence – Part 2 (Jim Hsieh, Qinghai Wang).
Chapter 16: Stock Repurchases and Dividends: Tradeoffs and Trends (Bradford Cornell).
Chapter 17: Beating the Market with Share Buybacks (Theo Vermaelen).
Part IV: Other Distribution Methods.
Chapter 18: Special Dividends (Michael Gombola, Feng-Ying Liu).
Chapter 19: Stock Splits, Stock Dividends and Reverse Stock Splits (David Michayluk).
Chapter 20: Dividend Reinvestment Plans (Wei He).
Part V: Survey Evidence on Dividends and Dividend Policy.
Chapter 21: Cash Dividends and Stock Repurchases (Gary E. Powell).
Chapter 22: Stock Splits, Stock Dividends, and Dividend Reinvestment Plans (Halil Kiymaz).
Chapter 23: Why Individual and Professional Investors Want Dividends (Ming Dong, Chris Robinson, Chris Veld).
Part VI: Other Dividend and Dividend Policy Issues.
Chapter 24: Why Firms Begin Paying Dividends: Value, Growth and Life Cycle Effects (Neil L. Fargher, Robert A. Weigand).
Chapter 25: Dividend Policy and Corporate Governance (Shantanu Dutta, Samir Saadi).
Chapter 26: Dividend Policy in Regulated Industries (Ross Dickens).
Chapter 27: Dividend Policy in a Global Perspective (Marc Goergen, Luc Renneboog).
Chapter 28: Dividend Policy in Emerging Markets (P. C. Kumar, Michel A. Robe).
Conclusions.
Over de auteur
H. KENT BAKER, PHD, CFA, CMA, is University Professor of Finance at the Kogod School of Business at American University, Washington, D.C. Before joining the faculty at American University in 1975, he held both faculty and administrative positions at Georgetown University and the University of Maryland. Baker has published extensively in leading academic and professional finance journals. He has consulting and training experience with more than 100 organizations, and has been listed in fifteen biographies, including Who’s Who in Finance and Industry, Who’s Who in the East, and Outstanding Educators of America.
ROBERT W. KOLB is the Frank W. Considine Chair of Applied Ethics and Professor of Finance at Loyola University, Chicago. Before this, he was the Assistant Dean, Business and Society, and Director, Center for Business and Society, at the University of Colorado at Boulder, and department chairman at the University of Miami. Kolb is also the author of over twenty books on finance, derivatives, and futures, and has authored numerous articles in leading finance journals.
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