Payout Policy and Cash-Flow Uncertainty

By J. Chay, Jungwon Suh. 2009

427 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/9be10167b60ea1ddf73a1de16725009223de13d7

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Citations in the corpus

Do Corporate Policies Follow a Life-Cycle? (2016, neutral): “, Dixit and Pindyck (1994), Chay and Suh (2009), and Han and Qiu (2007)).”
Oil Price Shocks and the Stock Market: Evidence from Japan (2013, background): “…contrast to U.S. ﬁrms, there is a smaller scope for information asymmetry and agency problems in Japan, and Japanese ﬁrms are able to adjust their dividends more often and cut their dividends quicker in respond to poor performance (see for example, Dewenter and Warther, 1998; Chay and Suh, 2009).”
Product Market Threats, Payouts, and Financial Flexibility (2012, methodology): “4Related work includes Venkatesh (1989), Chay and Suh (2009), and Fink, Fink, Grullon, and Weston (2010).”
Does Corporate Board Diversity Affect Corporate Payout Policy (2016, positive): “We also include stock return volatility following Chay and Suh (2009). Even though we do not report them in the main tables for simplicity, our results are intact when we include various board characteristics including board size and the percentage of independent directors as additional control vari”
Dividend Payouts and Information Shocks (2014, background): “In line with Chay and Suh (2009) we include Return Variability as a proxy for firms’ cash-flow uncertainty.”
Corporate social responsibility and dividend policy (2018, positive): “…may be sensitive to how the model for expectation is specified and estimated.5 Following DeAngelo, DeAngelo and Skinner (2004) and Chay and Suh (2009), we use the actual dividend payout ratio as a measure of dividend policy because it …”
Political risk and dividend policy: Evidence from international political crises (2015, positive): “Following the extant dividend literature (see, e.g., Chay & Suh, 2009; Fama & French, 2001), we control for a set of firm characteristics when we examine the impact of political crises on corporate dividend policy.”
The Global Financial Crisis, Family Control, and Dividend Policy: The Global Financial Crisis, Family Control, and Dividend Policy (2016, positive): “Dividend Variable Following prior research (e.g., Chay and Suh, 2009), we use the dividend payout ratio, DIV/E, as our primary measure of dividends.”
Dividends and economic policy uncertainty: International evidence (2021, methodology): “This stream of research includes Chay and Suh (2009), who show that risk—as captured by stock return volatility—negatively impacts both the probability of paying dividends and the amount paid, and Hoberg and Prabhala (2009) who find that systematic and idiosyncratic risk explain the propensity to…”
Corporate Governance and Firm-Specific Stock Price Crashes (2016, neutral): “These firms are expected to be more reliant on internal funds and to pay low dividends [Chay and Suh (2009)], which may force managers to put greater emphasis on short-term price maximization and engage significantly more in practices to conceal bad news regarding the firm’s operating performance.”
Dividend Policy and Earnings Management Across Countries (2017, neutral): “We recognize that dividend policy may be endogenously determined as firms self-select based on the various characteristics such as earned/contributed capital mix, agency conflicts, profitability, or investment opportunities, among others (e.g., DeAngelo, DeAngelo, and Skinner, 2004; DeAngelo, DeAnge”