Dividends, share repurchases, and the substitution hypothesis

Text

Dividends, share repurchases, and the substitution hypothesis

Grullon, Gustavo - ; Michaely, Roni - ;

We show that repurchases have not only became an important from of payout for U.S. corporations, but also that firms finance their share repurchases with funds that otherwise would have been used to increase dividends. We find that young firms have a higher propensity to pay cash through repurchases than they did in the past and that repurchases have become the preferred from of initiating a cash payout..Printed Journal

Ketersediaan

Call Number	Location	Available
-	PSB lt.dasar - Pascasarjana	1

Penerbit	The American Finance Association.,
Edisi	-
Subjek	-
ISBN/ISSN	00221082
Klasifikasi	-
Deskripsi Fisik	-
Info Detail Spesifik	-
Other Version/Related	Tidak tersedia versi lain
Lampiran Berkas	Tidak Ada Data