How foreign and institutional directorship affects corporate dividend policy
comunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8648
comunitat-uji-handle3:10234/8649
comunitat-uji-handle4:
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http://www.tandfonline.com/doi/full/10.1080/10293523.2016.1253136?needAcces ... |
Metadata
Title
How foreign and institutional directorship affects corporate dividend policyDate
2016-12-08Publisher
Taylor & FrancisBibliographic citation
PUCHETA MARTÍNEZ. María Consuelo; LÓPEZ ZAMORA, Blanca. How foreign and institutional directorship affects corporate dividend policy. Investments Analysts Journal (2016), online, pp. 1.17Type
info:eu-repo/semantics/articleSubject
Abstract
The aim of this study is to examine how board composition affects dividend policies. Concretely, we analyse the effect of institutional directors on boards, also differentiating between pressure-sensitive and pressu ... [+]
The aim of this study is to examine how board composition affects dividend policies. Concretely, we analyse the effect of institutional directors on boards, also differentiating between pressure-sensitive and pressure-resistant institutional directors. Furthermore, the impact of foreign directors is also examined. The findings show that institutional and foreign directors on boards affect dividend policies positively, suggesting that these directors are more likely to mitigate agency costs. Additionally, the results report the relevant monitoring role that pressure-sensitive directors play, since they impact positively on dividend policies, while pressure-resistant directors show no effect. Thus, institutional directors should not be considered as a uniform group. [-]
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Investments Analysts Journal (2016), onlineRights
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/restrictedAccess
info:eu-repo/semantics/restrictedAccess
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- COFIN_Articles [213]