Why Do Firms Pay Dividends? International Evidence on the Determinants of Dividend Policy

By David J. Denis, Igor Osobov. 2008

1,063 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/3c1f434eff87bd285a5986a2b97c1a11c8444b28

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Citations in the corpus

Oil Price Shocks and the Stock Market: Evidence from Japan (2013, background): “Further, Denis and Osobov (2008) report that the proportion of U.S. ﬁrms paying dividends has declined from 61% to 19%, while for Japanese ﬁrms this changed from 89% to 83% over the period 1989–2002.”
Catering Effects in Corporate Dividend Policy: The International Evidence (2009, positive): “In a study of six countries, Denis and Osobov (2008) report that some of their findings appear inconsistent with dividend catering.”
Determinants of dividend policy: evidence from an emerging and developing market (2019, background): “Rather than dividend payout, Fama and French (2001), De Angelo et al. (2006) and Denis and Osobov (2008) investigate the determinants of propensity to pay dividends.”
CULTURE, CORPORATE GOVERNANCE, AND DIVIDEND POLICY: INTERNATIONAL EVIDENCE (2012, background): “In a study of six developed financial markets of U.S., Canada, U.K., Germany, France, and Japan, Denis and Osobov (2008) show results supporting the life-cycle theory of dividends that the propensity to pay dividends is higher among larger, more profitable firms, and firms with a higher proportion…”
The effects of voluntary disclosure and dividend propensity on prices leading earnings (2009, background): “This number is consistent with a recent study by Denis and Osobov (2008) which find that 73% of UK firms pay dividends in the sample period 1996–2002.”
Analysis of Factors Affecting Share Prices: The Case of Bahrain Stock Exchange (2015, neutral): “Similar views related to the irrelevance concept of dividend was expressed by Uddin (2003), Denis and Osobov (2008) and Chen and Dhiensiri, (2009) and in their study of Bangladesh, New Zealand and Nigerian market respectively.”
Earnings conference calls and stock returns: The incremental informativeness of textual tone (2012, neutral): “Several recent studies document that firms who pay dividends tend to be larger, more profitable firms whose earnings are much more certain than small, growth oriented firms that do not pay dividends (DeAngelo et al., 2004; Denis and Osobov, 2008).”
Ownership Structure and Dividend Policy: Evidence from Thailand (2012, background): “Consistent with DeAngelo et al. (2006), Denis and Osobov (2008), and Thanatawee (2011), the retained earnings to book value of equity is positively related to dividend payouts.”
Dividend Payouts and Information Shocks (2014, neutral): “firms and Denis and Osobov (2008)”