Dividend policy, creditor rights, and the agency costs of debt.
By P. Brockman, Emre Unlu. 2009
386 citations recorded by the source corpus.
Subfields: Accounting
View Paper: https://www.semanticscholar.org/paper/eaca6960b033a930c9d851e191885fb8e18092a3
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Accounting
Citations in the corpus
- Dividends and economic policy uncertainty: International evidence (2021, neutral): “Brockman and Unlu (2009) further show that managers in countries with weak creditor rights are under greater pressure to lower dividend payouts because of creditors’ concerns about debt repayments.”
- Dividend Payouts and Corporate Governance Quality: An Empirical Investigation (2011, neutral): “Furthermore, Brockman and Unlu (2009) examine the impact of creditor rights on dividend payouts in 52 countries and report that poor creditor rights are related to smaller payouts.”
- The Role of Information Sharing in Modulating the Effect of Financial Access on Inequality (2019, background): “…the role of stronger creditor rights in inter alia: risk-taking by banks (Acharya, Amihud, & Litov, 2011; Houston, Lin, Lin, & Ma, 2010); reducing market power in the banking industry (Asongu, Le Roux, & Tchamyou, 2017b) and bankruptcy (Brockman & Unlu, 2009; Claessens & Klapper, 2005).”
- Information Asymmetry and Financial Development Dynamics in Africa (2016, neutral): “The latter (ii) has assessed the role of stronger creditor rights in, among others: capital structure (El Ghoul et al., 2012), risk-taking by banks (Houston et al., 2010; Acharya et al., 2011) and bankruptcy (Claessens & Klapper, 2005; Djankov et al., 2007; Brockman & Unlu, 2009).”
- The Global Financial Crisis, Family Control, and Dividend Policy: The Global Financial Crisis, Family Control, and Dividend Policy (2016, neutral): “Our selection of firm-level control variables closely follows Brockman and Unlu (2009). Specifically, we control for RE/TE, the ratio of retained earnings (RE)8 to total assets (AT); TE/TA,”