Disappearing Dividends, Catering, and Risk

By Gerard Hoberg, Nagpurnanand R. Prabhala. 2009

314 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/058ef29154f07aca20af3c7257cb2085f92c3cc4

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Citations in the corpus

Political risk and dividend policy: Evidence from international political crises (2015, unknown): “To reduce the probability of taping external equity markets, it is optimal for firms to choose conservative dividend decisions (see, e.g., Brav et al., 2005; Chay & Suh, 2009; Hoberg & Prabhala, 2009; Lintner, 1956).”
The relationship among information asymmetry, dividend policy and ownership structure (2017, background): “As in Grullon, Michaely and Swaminathan (2002), Hoberg and Prabhala (2009), and Bulan, Subramanian and Tanlu (2007), corporate risk is taken as the control variable.”
The Limits of the Limits of Arbitrage (2010, background): “Hoberg and Prabhala (2009) also find that idiosyncratic volatility is negatively correlated with dividend yield.5 Finally, percent of market cap is an estimate of the wealth invested 5 An alternative proxy for limited arbitrage in the context of anomalies involving overvaluation is the cost of…”
Determinants of dividend policy: evidence from an emerging and developing market (2019, background): “Ferris et al. (2006) present evidence supporting this argument, but Hoberg and Prabhala (2009) provide instead evidence for the nonexistence of a catering incentive.”
Product Market Threats, Payouts, and Financial Flexibility (2012, background): “We emphasize that it is a forward look- 5 ing variable that is likely to have unique information incremental to that in other accounting numbers - such as firm R&D, historical cash flow risk or the negative earnings indicator suggested by DeAngelo, DeAngelo, and Skinner (1992).”