National culture and dividend policy

• Published in: Journal of international business studies Vol. 41; no. 8; pp. 1391 - 1414
• Main Authors: Shao, Liang, Kwok, Chuck CY, Guedhami, Omrane
• Format: Journal Article
• Language: English
• Published: London Palgrave Macmillan 01.10.2010; Palgrave Macmillan UK
• Series: Journal of International Business Studies
• Subjects: Business and Management; Business Strategy/Leadership; Business structures; Capital structure; Cash; Conservatism; Corporate culture; Cultural policy; Cultural values; Culture; Dividend policy; Dividends; Hypotheses; International Business; Investments; Investors; Management; Market entry; Musical agency; Organization; Shareholders; Stockholders; national culture; dividend policy; agency theory

This interdisciplinary study examines how national culture affects corporate dividend policies. The dividend puzzle is one of the most studied, yet unresolved, issues in financial economics. Prior theoretical and empirical research has suggested several explanations of the dividend puzzle that are r...