Dividend Policy inside the Firm

  title={Dividend Policy inside the Firm},
  author={Mihir A. Desai and James R. Hines and C. Fritz Foley},
This paper analyzes dividend remittances by a large panel of foreign affiliates of U.S. multinational firms. The dividend policies of foreign affiliates, which convey no signals to public capital markets, nevertheless resemble those used by publicly held companies in paying dividends to diffuse common shareholders. Robustness checks verify that dividend policies of foreign affiliates are little affected by the dividend policies of their parent companies or parent company exposure to public… CONTINUE READING

From This Paper

Figures, tables, and topics from this paper.


Publications referenced by this paper.
Showing 1-10 of 67 references

A Theory of Dividends Based on Tax Clienteles.

Allen, Franklin, Antonio Bernardo, Ivo Welch
Journal of Finance • 2000

A Three-step Method for Choosing the Number of Bootstrap Repetitions,

Andrews, Donald W.K, Moshe Buchinsky

Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay?” The Center for Research in Security Prices, Working Paper No

Fama, F. Eugene, Kenneth R. French.
509. • 2000

Large Shareholders and Dividends: Evidence from U.S. Tax Reforms.

Perez-Gonzalez, Francisco

Special Dividends and the Evolution of Signaling.

DeAngelo, Harry, Linda DeAngelo, Douglas J. Skinner
Journal of Financial Economics • 2000

Testing Tradeoff and Pecking Order Predictions about Dividends and Debt.

Fama, F Eugene, Kenneth R. French

Valuation of Bankrupt Firms.

Gilson, C Stewart, Edie S. Hotchkiss, Richard S. Ruback
Review of Financial Studies • 2000

Similar Papers

Loading similar papers…