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.Content:
Chapter 1 Dividends and Dividend Policy: An Overview (pages 1–19): H. Kent Baker
Chapter 2 The Historical Evolution of Dividends (pages 21–34): Erik Benrud
Chapter 3 Trends in Dividends: Payers and Payouts (pages 35–54): Christian Andres, Andre Betzer, Luis Correia Da Silva and Marc Goergen
Chapter 4 Factors Influencing Dividends (pages 55–69): David Denis and Gohar Stepanyan
Chapter 5 Cross?Country Determinants of Payout Policy: European Firms (pages 71–93): Franck Bancel, Nalinaksha Bhattacharyya and Usha R. Mittoo
Chapter 6 Dividend Irrelevance Theory (pages 95–113): James S. Ang and Stephen J. Ciccone
Chapter 7 Residual Dividend Policy (pages 115–126): David M. Smith
Chapter 8 Taxes and Clientele Effects (pages 127–144): Samir Saadi and Shantanu Dutta
Chapter 9 Agency Costs and the Free Cash Flow Hypothesis (pages 145–161): Tarun Mukherjee
Chapter 10 Asymmetric Information and Signaling Theory (pages 163–177): Greg Filbeck
Chapter 11 Behavioral Explanations of Dividends (pages 179–199): Hersh Shefrin
Chapter 12 The Firm Life Cycle Theory of Dividends (pages 201–213): Laarni T. Bulan and Narayanan Subramanian
Chapter 13 The Catering Theory of Dividends (pages 215–238): Margot De Rooij and Luc Renneboog
Chapter 14 Stock Repurchases: Theory and Evidence, Part 1 (pages 239–260): Jim Hsieh and Qinghai Wang
Chapter 15 Stock Repurchases: Theory and Evidence, Part 2 (pages 261–273): Jim Hsieh and Qinghai Wang
Chapter 16 Stock Repurchases and Dividends: Trade?Offs and Trends (pages 275–290): Bradford Cornell
Chapter 17 Beating the Market with Share Buybacks (pages 291–306): Theo Vermaelen
Chapter 18 Special Dividends (pages 307–323): Michael Gombola and Feng?Ying Liu
Chapter 19 Stock Splits, Stock Dividends, and Reverse Stock Splits (pages 325–341): David Michayluk
Chapter 20 Dividend Reinvestment Plans (pages 343–361): Wei He
Chapter 21 Cash Dividends and Stock Repurchases (pages 363–383): Gary E. Powell
Chapter 22 Stock Splits, Stock Dividends, and Dividend Reinvestment Plans (pages 385–403): Halil Kiymaz
Chapter 23 Why Individual and Professional Investors Want Dividends (pages 405–420): Ming Dong, Chris Robinson and Chris Veld
Chapter 24 Why Firms Begin Paying Dividends: Value, Growth, and Life Cycle Effects (pages 421–445): Neil Fargher and Robert A. Weigand
Chapter 25 Dividend Policy and Corporate Governance (pages 447–462): Shantanu Dutta and Samir Saadi
Chapter 26 Dividend Policy in Regulated Industries (pages 463–479): Ross Dickens
Chapter 27 Dividend Policy in a Global Perspective (pages 481–498): Marc Goergen and Luc Renneboog
Chapter 28 Dividend Policy in Emerging Markets (pages 499–525): P. C. Kumar and Michel A. Robe