{"id":"https://openalex.org/W1521656096","doi":null,"title":"Corporate dividend decisions","display_name":"Corporate dividend decisions","publication_year":2012,"publication_date":"2012-01-01","ids":{"openalex":"https://openalex.org/W1521656096","mag":"1521656096"},"language":"en","primary_location":{"id":"pmh:oai:openaccess.city.ac.uk:1947","doi":null,"is_oa":true,"landing_page_url":"https://openaccess.city.ac.uk/id/eprint/1947/1/PhD_Thesis_TAO_MA.pdf","pdf_url":"https://openaccess.city.ac.uk/id/eprint/1947/1/PhD_Thesis_TAO_MA.pdf","source":{"id":"https://openalex.org/S4306401940","display_name":"City Research Online (City University London)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I180825142","host_organization_name":"City, University of London","host_organization_lineage":["https://openalex.org/I180825142"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"volume":null,"type":"dissertation","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://openaccess.city.ac.uk/id/eprint/1947/1/PhD_Thesis_TAO_MA.pdf","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5057888386","display_name":"Tao Ma","orcid":"https://orcid.org/0000-0001-9321-5040","observed_orcids":["https://orcid.org/0000-0001-9321-5040"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Tao Ma","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0001-9321-5040","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5057888386"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/dividend-policy","display_name":"dividend policy","score":0.953000009059906},{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":0.9919999837875366},{"id":"https://openalex.org/keywords/ipo-underpricing","display_name":"IPO underpricing","score":0.718999981880188},{"id":"https://openalex.org/keywords/winner-s-curse","display_name":"winner's curse","score":0.7260000109672546},{"id":"https://openalex.org/keywords/dividend-discount-model","display_name":"dividend discount model","score":0.5569999814033508},{"id":"https://openalex.org/keywords/signaling-theory","display_name":"signaling theory","score":0.6119999885559082},{"id":"https://openalex.org/keywords/agency-costs","display_name":"agency costs","score":0.8840000033378601},{"id":"https://openalex.org/keywords/life-cycle-theory","display_name":"life cycle theory","score":0.7870000004768372},{"id":"https://openalex.org/keywords/catering-theory","display_name":"catering theory","score":0.8349999785423279},{"id":"https://openalex.org/keywords/free-cash-flow-hypothesis","display_name":"free cash flow hypothesis","score":0.9620000123977661},{"id":"https://openalex.org/keywords/lock-up-period","display_name":"lock-up period","score":0.5699999928474426},{"id":"https://openalex.org/keywords/managerial-ownership","display_name":"managerial ownership","score":0.6990000009536743},{"id":"https://openalex.org/keywords/ipo-prospectuses","display_name":"IPO prospectuses","score":0.6549999713897705},{"id":"https://openalex.org/keywords/aim","display_name":"AIM","score":0.39100000262260437},{"id":"https://openalex.org/keywords/cross-national-comparison","display_name":"cross-national comparison","score":0.5389999747276306},{"id":"https://openalex.org/keywords/capital-expenditure","display_name":"capital expenditure","score":0.4259999990463257},{"id":"https://openalex.org/keywords/turnover-rate","display_name":"turnover rate","score":0.7689999938011169},{"id":"https://openalex.org/keywords/technology-intensity","display_name":"technological intensity","score":0.3149999976158142}],"concepts":[{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.5682922601699829},{"id":"https://openalex.org/C59399099","wikidata":"https://www.wikidata.org/wiki/Q5284040","display_name":"Dividend policy","level":3,"score":0.45574474334716797},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4079660177230835},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.34840479493141174},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.13585224747657776}],"mesh":[],"locations_count":5,"locations":[{"id":"pmh:oai:openaccess.city.ac.uk:1947","doi":null,"is_oa":true,"landing_page_url":"https://openaccess.city.ac.uk/id/eprint/1947/1/PhD_Thesis_TAO_MA.pdf","pdf_url":"https://openaccess.city.ac.uk/id/eprint/1947/1/PhD_Thesis_TAO_MA.pdf","source":{"id":"https://openalex.org/S4306401940","display_name":"City Research Online (City University London)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I180825142","host_organization_name":"City, University of London","host_organization_lineage":["https://openalex.org/I180825142"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.427.1109","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.427.1109","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"http://openaccess.city.ac.uk/1947/1/PhD_Thesis_TAO_MA.pdf","raw_type":"text"},{"id":"pmh:hdl:10068/997661","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/10068/997661","pdf_url":null,"source":{"id":"https://openalex.org/S4377196900","display_name":"OpenGrey (Institut de l'Information Scientifique et Technique)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1295345811","host_organization_name":"Institut de l'Information Scientifique et Technique","host_organization_lineage":["https://openalex.org/I1295345811"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"U - Thesis"},{"id":"pmh:oai:uilis.unsyiah.ac.id:27844","doi":null,"is_oa":false,"landing_page_url":"http://uilis.unsyiah.ac.id/opentheses/items/show/27844","pdf_url":null,"source":{"id":"https://openalex.org/S4377196378","display_name":"UPT. Syiah Kuala University Library (Syiah Kuala University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I187494767","host_organization_name":"Universitas Syiah Kuala","host_organization_lineage":["https://openalex.org/I187494767"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Thesis"},{"id":"mag:1521656096","doi":null,"is_oa":false,"landing_page_url":"https://openaccess.city.ac.uk/1947/1/PhD_Thesis_TAO_MA.pdf","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:openaccess.city.ac.uk:1947","doi":null,"is_oa":true,"landing_page_url":"https://openaccess.city.ac.uk/id/eprint/1947/1/PhD_Thesis_TAO_MA.pdf","pdf_url":"https://openaccess.city.ac.uk/id/eprint/1947/1/PhD_Thesis_TAO_MA.pdf","source":{"id":"https://openalex.org/S4306401940","display_name":"City Research Online (City University London)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I180825142","host_organization_name":"City, University of London","host_organization_lineage":["https://openalex.org/I180825142"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Thesis"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W1521656096.pdf","grobid_xml":"https://content.openalex.org/works/W1521656096.grobid-xml"},"referenced_works_count":271,"referenced_works":["https://openalex.org/W60601560","https://openalex.org/W114934338","https://openalex.org/W188272202","https://openalex.org/W631466653","https://openalex.org/W1483390880","https://openalex.org/W1486742411","https://openalex.org/W1492516548","https://openalex.org/W1493636442","https://openalex.org/W1513992588","https://openalex.org/W1531758582","https://openalex.org/W1537543935","https://openalex.org/W1543355339","https://openalex.org/W1559083449","https://openalex.org/W1565703989","https://openalex.org/W1571132164","https://openalex.org/W1579112106","https://openalex.org/W1585500105","https://openalex.org/W1591056545","https://openalex.org/W1606272114","https://openalex.org/W1606756925","https://openalex.org/W1649827407","https://openalex.org/W1795526348","https://openalex.org/W1884217820","https://openalex.org/W1895366050","https://openalex.org/W1928594593","https://openalex.org/W1965145201","https://openalex.org/W1969632991","https://openalex.org/W1970029252","https://openalex.org/W1970929758","https://openalex.org/W1974396186","https://openalex.org/W1974675048","https://openalex.org/W1976545335","https://openalex.org/W1977704037","https://openalex.org/W1979816698","https://openalex.org/W1979825610","https://openalex.org/W1981566670","https://openalex.org/W1985862728","https://openalex.org/W1988160226","https://openalex.org/W1989439403","https://openalex.org/W1990462593","https://openalex.org/W1991410105","https://openalex.org/W1991795148","https://openalex.org/W1993091307","https://openalex.org/W1993093318","https://openalex.org/W1993161130","https://openalex.org/W1994077342","https://openalex.org/W1995834279","https://openalex.org/W1998352758","https://openalex.org/W2000578291","https://openalex.org/W2003644932","https://openalex.org/W2003907938","https://openalex.org/W2004501718","https://openalex.org/W2005193841","https://openalex.org/W2005377779","https://openalex.org/W2005940005","https://openalex.org/W2006949193","https://openalex.org/W2011173980","https://openalex.org/W2011897245","https://openalex.org/W2011917552","https://openalex.org/W2012405353","https://openalex.org/W2012717586","https://openalex.org/W2015341674","https://openalex.org/W2016332917","https://openalex.org/W2019712056","https://openalex.org/W2020764437","https://openalex.org/W2020944421","https://openalex.org/W2020970716","https://openalex.org/W2021799279","https://openalex.org/W2021897627","https://openalex.org/W2023589043","https://openalex.org/W2027184738","https://openalex.org/W2028144231","https://openalex.org/W2028956591","https://openalex.org/W2031877412","https://openalex.org/W2032269423","https://openalex.org/W2033837829","https://openalex.org/W2034303595","https://openalex.org/W2034306329","https://openalex.org/W2036132775","https://openalex.org/W2038100052","https://openalex.org/W2038224101","https://openalex.org/W2038765589","https://openalex.org/W2039167111","https://openalex.org/W2039612508","https://openalex.org/W2043725758","https://openalex.org/W2043889618","https://openalex.org/W2044236577","https://openalex.org/W2045015317","https://openalex.org/W2045137310","https://openalex.org/W2046847749","https://openalex.org/W2046999060","https://openalex.org/W2049440762","https://openalex.org/W2050184076","https://openalex.org/W2050320860","https://openalex.org/W2051140949","https://openalex.org/W2052536272","https://openalex.org/W2052787910","https://openalex.org/W2056537134","https://openalex.org/W2056728211","https://openalex.org/W2057781651","https://openalex.org/W2058416349","https://openalex.org/W2059912207","https://openalex.org/W2061421591","https://openalex.org/W2062391421","https://openalex.org/W2063902881","https://openalex.org/W2064328210","https://openalex.org/W2065247566","https://openalex.org/W2065601052","https://openalex.org/W2066777296","https://openalex.org/W2067527621","https://openalex.org/W2068258432","https://openalex.org/W2068273422","https://openalex.org/W2070908755","https://openalex.org/W2071249181","https://openalex.org/W2071681097","https://openalex.org/W2073488258","https://openalex.org/W2074132263","https://openalex.org/W2074422181","https://openalex.org/W2076765279","https://openalex.org/W2077850276","https://openalex.org/W2077877739","https://openalex.org/W2077968320","https://openalex.org/W2079250415","https://openalex.org/W2080226685","https://openalex.org/W2082381127","https://openalex.org/W2084695533","https://openalex.org/W2085135112","https://openalex.org/W2085162670","https://openalex.org/W2085880633","https://openalex.org/W2086928377","https://openalex.org/W2087091166","https://openalex.org/W2087466856","https://openalex.org/W2087865081","https://openalex.org/W2088251095","https://openalex.org/W2088957698","https://openalex.org/W2089858078","https://openalex.org/W2090345768","https://openalex.org/W2091957067","https://openalex.org/W2092496771","https://openalex.org/W2093263684","https://openalex.org/W2093320374","https://openalex.org/W2096362300","https://openalex.org/W2096686146","https://openalex.org/W2098910318","https://openalex.org/W2101247287","https://openalex.org/W2101470873","https://openalex.org/W2104795328","https://openalex.org/W2106724019","https://openalex.org/W2108793759","https://openalex.org/W2111384383","https://openalex.org/W2112688502","https://openalex.org/W2113399328","https://openalex.org/W2114001875","https://openalex.org/W2115747715","https://openalex.org/W2116374802","https://openalex.org/W2118542002","https://openalex.org/W2118568827","https://openalex.org/W2119344659","https://openalex.org/W2122291533","https://openalex.org/W2122479412","https://openalex.org/W2122925298","https://openalex.org/W2123343520","https://openalex.org/W2124092784","https://openalex.org/W2124758339","https://openalex.org/W2126306973","https://openalex.org/W2128778916","https://openalex.org/W2128915726","https://openalex.org/W2129298567","https://openalex.org/W2130162792","https://openalex.org/W2132582515","https://openalex.org/W2135241016","https://openalex.org/W2135808032","https://openalex.org/W2136308778","https://openalex.org/W2136700758","https://openalex.org/W2138729574","https://openalex.org/W2140235087","https://openalex.org/W2140394893","https://openalex.org/W2141677193","https://openalex.org/W2142856961","https://openalex.org/W2144470805","https://openalex.org/W2145444494","https://openalex.org/W2145788913","https://openalex.org/W2145855445","https://openalex.org/W2147005732","https://openalex.org/W2147215760","https://openalex.org/W2148030184","https://openalex.org/W2149403925","https://openalex.org/W2150841109","https://openalex.org/W2150952366","https://openalex.org/W2151823353","https://openalex.org/W2151829730","https://openalex.org/W2153224480","https://openalex.org/W2154127363","https://openalex.org/W2154585860","https://openalex.org/W2154860111","https://openalex.org/W2155410644","https://openalex.org/W2156109180","https://openalex.org/W2156535339","https://openalex.org/W2157872392","https://openalex.org/W2158321859","https://openalex.org/W2160184254","https://openalex.org/W2160264785","https://openalex.org/W2163111320","https://openalex.org/W2164426272","https://openalex.org/W2166151487","https://openalex.org/W2170790204","https://openalex.org/W2171798971","https://openalex.org/W2172006730","https://openalex.org/W2223768511","https://openalex.org/W2253917121","https://openalex.org/W2317732556","https://openalex.org/W2320993747","https://openalex.org/W2525088583","https://openalex.org/W2571492710","https://openalex.org/W2752617332","https://openalex.org/W2890913069","https://openalex.org/W2891389313","https://openalex.org/W2995133996","https://openalex.org/W3025803978","https://openalex.org/W3121131820","https://openalex.org/W3121223614","https://openalex.org/W3121281037","https://openalex.org/W3121740008","https://openalex.org/W3122184287","https://openalex.org/W3122215577","https://openalex.org/W3122226140","https://openalex.org/W3122295706","https://openalex.org/W3122367063","https://openalex.org/W3122420217","https://openalex.org/W3122859634","https://openalex.org/W3123052676","https://openalex.org/W3123062155","https://openalex.org/W3123142049","https://openalex.org/W3123199982","https://openalex.org/W3123268005","https://openalex.org/W3123446305","https://openalex.org/W3123504461","https://openalex.org/W3123579371","https://openalex.org/W3123728483","https://openalex.org/W3123819895","https://openalex.org/W3123986134","https://openalex.org/W3124032327","https://openalex.org/W3124114405","https://openalex.org/W3124194008","https://openalex.org/W3124245953","https://openalex.org/W3124364728","https://openalex.org/W3124399064","https://openalex.org/W3124435561","https://openalex.org/W3124515653","https://openalex.org/W3124630494","https://openalex.org/W3124631325","https://openalex.org/W3124737349","https://openalex.org/W3124787240","https://openalex.org/W3124789870","https://openalex.org/W3124803589","https://openalex.org/W3124812427","https://openalex.org/W3124846124","https://openalex.org/W3125087107","https://openalex.org/W3125103852","https://openalex.org/W3125168868","https://openalex.org/W3125397542","https://openalex.org/W3125649628","https://openalex.org/W3125688476","https://openalex.org/W3125689201","https://openalex.org/W3125763787","https://openalex.org/W3125805996","https://openalex.org/W3126092525","https://openalex.org/W3126112301","https://openalex.org/W3145706822","https://openalex.org/W3175525722","https://openalex.org/W7131799015"],"related_works":["https://openalex.org/W3125948765","https://openalex.org/W2259571097","https://openalex.org/W4287194652","https://openalex.org/W3208615703","https://openalex.org/W4387763743","https://openalex.org/W2021897627","https://openalex.org/W3196284136","https://openalex.org/W2609683516","https://openalex.org/W3111889701","https://openalex.org/W1494360815"],"abstract_inverted_index":{"The":[0,282,466,495,812,887],"main":[1],"aims":[2],"and":[3,29,52,54,96,120,132,142,160,185,223,260,292,305,356,379,382,395,413,447,473,509,519,547,607,624,656,692,703,716,723,742,752,799,805,829,849,868,933,957,964,968,985,994,998,1005],"objectives":[4],"of":[5,42,66,88,99,112,117,126,145,156,171,204,209,219,225,275,280,303,327,376,422,438,594,620,663,679,710,746,802,814,846,856,889,894,921,924,930,991],"my":[6,265,526],"thesis":[7],"are":[8,252,286,615,903,911,936,1013],"to":[9,20,71,93,130,255,272,337,366,400,458,469,554,672,698,761,808,879,905,914,945,1016],"test":[10,57],"the":[11,17,36,40,43,58,91,97,104,109,124,127,143,154,169,191,195,207,235,239,242,289,314,317,325,339,374,420,482,515,529,556,583,595,598,605,610,618,621,628,641,661,673,677,683,688,707,735,740,743,754,768,784,800,844,854,892,919,922,958,972,980,1008,1019],"various":[12],"conflicting":[13],"hypotheses":[14,59,106],"developed":[15],"in":[16,39,123,151,238,301,321,354,464,481,487,498,544,585,592,602,643,687,693,700,739,750,753,766,773,825,940,989,1021],"previous":[18],"literature":[19],"explain":[21],"firms\u2019":[22],"dividend":[23,45,100,110,146,249,257,273,318,341,369,404,426,462,493,535,541,551,599,644,664,720,942,955],"policy,":[24],"focusing":[25],"specifically":[26],"on":[27,85,248,316,517,817,875,891,953],"IPOs":[28,68,113,236,276,349,390,452,479,532,576],"cross-country":[30],"analysis.":[31],"In":[32,189,418,450,659,705,1001],"particular,":[33],"I":[34,102,134,232,558,589],"explore":[35],"theoretical":[37],"links":[38],"context":[41,125],"important":[44,937],"theories":[46,128,521],"including":[47,206],"signalling,":[48],"agency":[49,306,507,1026],"costs,":[50],"lifecycle":[51,503,1028],"catering":[53,293,520],"then":[55],"empirically":[56],"by":[60,107,201],"using":[61,975],"a":[62,115,136,202,245,840,850,872,876,949],"very":[63,335],"large":[64],"dataset":[65],"UK":[67,755,909],"from":[69,76,359,669,732,772],"1990":[70],"2010,":[72],"which":[73],"is":[74,150,174,198,296,334,431,476,522,748,764,820,833,861,885,896],"extracted":[75],"offering":[77,545],"prospectuses.":[78,323,465],"\\n":[79,308,524,635,780],"\\nThe":[80,309,636],"first":[81],"empirical":[82,299,311,500,638,973,1023],"study":[83,312,639],"focuses":[84],"two":[86],"aspects":[87],"post-IPO":[89,570],"decision-making:":[90],"decision":[92],"initiate":[94,261],"dividends":[95,131,173,262,711,733,763,789,848,907,984,1012],"timing":[98],"initiation.":[101,147],"develop":[103],"testable":[105],"linking":[108],"decisions":[111,274,819],"with":[114,153,177,288,373,391,410,434,453,533,676,795,827,843,853,962,1003],"number":[116],"firm":[118,182,778],"characteristics":[119,270],"IPO-specific":[121],"factors":[122,205,939],"relating":[129,468],"IPO.":[133],"find":[135,233,559,590,782],"strong":[137,346],"negative":[138,841,873],"relation":[139,842,852],"between":[140,982],"underpricing":[141],"propensity":[144,197,760],"This":[148],"finding":[149],"line":[152,826,1002],"implications":[155],"Dividend":[157],"Discount":[158],"Model":[159],"Rock\u2019s":[161],"(1986)":[162],"\u201cwinner\u2019s":[163],"curse\u201d.":[164],"My":[165,343,385],"results":[166,192,266,285,344,386,497,527],"show":[167,193,267,388],"that":[168,194,234,268,348,350,389,531,560,573,597,612,625,783,786,836,865,979,1011],"likelihood":[170,785],"initiating":[172,575],"positively":[175,793],"associated":[176,287,433],"managerial":[178,214,474],"ownership,":[179],"underwriter":[180],"reputation,":[181],"size,":[183,797],"profitability":[184,355,798],"long-term":[186,470,809],"debt":[187,471,810],"ratio.":[188,811],"addition,":[190,419],"initiation":[196],"negatively":[199,432,806],"influenced":[200],"serial":[203],"length":[208,437],"lockup":[210],"period,":[211,442],"VC":[212,435],"backing,":[213,436],"stock":[215,227,443],"option,":[216,444],"growth":[217,226,815,928],"opportunities":[218,816],"IPOs,":[220],"technology":[221,445,869],"intensity,":[222],"selection":[224],"exchange":[228],"(i.e.":[229],"AIM).":[230],"Finally,":[231,971],"issued":[237,480],"years":[240],"when":[241,406],"market":[243],"put":[244],"price":[246],"premium":[247],"paying":[250,562,566,665,847],"payers":[251],"more":[253,402,454,912],"likely":[254,336,913],"pay":[256,762,880,906,915],"after":[258],"IPO":[259,269,322,429,633],"earlier.":[263],"Overall,":[264,1018],"relate":[271],"through":[277,540,671],"miscellaneous":[278],"mechanisms":[279],"dividends.":[281],"most":[283],"homogeneous":[284],"life":[290],"cycle":[291],"theories.":[294],"There":[295,832,860],"also":[297,387,862,917],"some":[298,834,863],"evidence":[300,347,467,516,591,835,864,1020],"support":[302,502,528,593,990],"signaling":[304,518],"theory.":[307,1029],"second":[310],"examines":[313,640],"determinants":[315,920],"policies":[319,370,405,536,542,600,645],"stated":[320,601],"At":[324],"stage":[326,430],"preparing":[328],"for":[329,490,582,776],"IPO,":[330],"pre-IPO":[331,363,629],"financial":[332,630],"status":[333],"influence":[338,874,884],"initial":[340],"policies.":[342],"provide":[345],"experienced":[351],"superior":[352],"performance":[353],"cash":[357,415,511,837,983],"inflow":[358],"operating":[360],"activities":[361],"during":[362,568],"period":[364,485],"tend":[365,399,457],"make":[367],"active":[368,403,425,461,534],"relatively,":[371],"consistent":[372,409,961],"implication":[375],"Lintner":[377,976],"(1956)":[378],"Benartzi,":[380],"Michaely":[381,999],"Thaler":[383],"(1997).":[384],"higher":[392],"turnover":[393],"ratio":[394,472,801,947],"lower":[396],"capital":[397],"expenditures":[398],"choose":[401],"going":[407],"public,":[408],"residual":[411],"theory":[412,508],"free":[414,510],"flow":[416,512],"hypothesis.":[417],"possibility":[421],"choosing":[423],"relatively":[424,460,491],"strategies":[427],"at":[428,632],"full":[439],"lock-up":[440],"restriction":[441],"focus,":[446],"institutional":[448],"ownership.":[449],"contrast,":[451,706],"reputable":[455],"underwriters":[456],"declare":[459],"policy":[463],"ownership":[475],"weak.":[477],"Moreover,":[478],"\u2018internet":[483],"bubble\u2019":[484],"or":[486,790],"2000s":[488],"opt":[489],"conservative":[492],"strategies.":[494],"overall":[496],"this":[499,1022],"chapter":[501,1024],"theory,":[504],"substitution":[505],"assumption-based":[506],"hypothesis,":[513],"while":[514,908],"mixed.":[523],"\\nFurthermore,":[525],"conjecture":[530,596],"release":[537],"sufficient":[538],"information":[539],"declared":[543],"prospectuses":[546,603],"therefore":[548],"their":[549],"formal":[550],"initiations":[552],"fail":[553],"shock":[555],"market.":[557],"dividend-":[561],"companies":[563,623],"outperform":[564],"non-dividend":[565,574],"counterparts":[567],"three":[569],"years,":[571],"indicating":[572],"rather":[577],"than":[578],"dividend-initiating":[579],"ones":[580],"account":[581],"decline":[584],"long-run":[586],"underperformance.":[587],"Additionally,":[588],"communicate":[604],"information,":[606],"thus":[608],"reduce":[609],"possibilities":[611],"outside":[613],"investors":[614],"overoptimistic":[616],"over":[617,731],"prospect":[619],"invested":[622],"managers":[626],"overstate":[627],"data":[631,1009],"stage.":[634],"third":[637],"trends":[642],"across":[646,714,823],"seven":[647],"western":[648],"countries:":[649],"U.S.,":[650],"Candada,":[651],"U.K.,":[652],"Germany,":[653],"France,":[654,702],"Japan":[655,691],"Hong":[657,694],"Kong.":[658],"general,":[660],"proportion":[662],"firms":[666,717,787],"fell":[667],"significantly":[668,950],"1989":[670],"early":[674],"2000s,":[675],"exception":[678],"Japanese":[680],"firms.":[681],"Thereafter,":[682],"percentage":[684],"reverted":[685],"slightly":[686],"US,":[689],"Canada,":[690],"Kong,":[695],"but":[696,882],"continued":[697],"decrease":[699],"UK,":[701],"Germany.":[704],"aggregate":[708],"amount":[709],"increased":[712],"continuously":[713],"countries":[715,770],"retained":[718,934],"stable":[719],"payout":[721,725,737,788,818],"ratios,":[722],"total":[724,931],"ratios":[726],"relatively.":[727],"Share":[728],"repurchases":[729,747],"took":[730],"as":[734,756],"dominant":[736],"method":[738],"US":[741,901],"increasing":[744],"importance":[745],"observed":[749],"Canada":[751],"well.":[757],"A":[758],"declining":[759],"seen":[765],"all":[767],"sample":[769],"apart":[771],"Japan,":[774],"controlling":[775],"key":[777],"characteristics.":[779],"\\nI":[781],"repurchase":[791,959],"shares":[792],"correlates":[794],"firm\u2019s":[796,877],"earned/contributed":[803],"capital,":[804],"related":[807],"impact":[813],"not":[821],"uniform":[822],"countries,":[824],"Denis":[828],"Osobov":[830],"(2008).":[831],"holdings":[838],"have":[839,871,948],"probability":[845,855],"positive":[851,938,951],"buying":[857],"back":[858],"shares.":[859],"R&D":[866],"expenditure":[867],"intensity":[870],"tendency":[878],"dividends,":[881],"such":[883],"country-dependent.":[886],"effect":[888,952],"M&A":[890],"incidence":[893],"payouts":[895],"highly":[897],"country-dependant.":[898],"For":[899],"example,":[900],"acquirers":[902,910],"reluctant":[904],"dividends.I":[916],"examine":[918],"amounts":[923,956],"corporate":[925],"payouts.":[926],"Profitability,":[927],"rate":[929],"assets,":[932],"earnings":[935,986],"determining":[941],"amounts.":[943],"Market":[944],"book":[946],"both":[954],"amounts,":[960],"Lee":[963],"Suh":[965],"(2011),":[966],"Alzahrani":[967],"Lasfer":[969],"(2012).":[970],"tests":[974],"model":[977],"indicate":[978],"link":[981],"has":[987],"weakened,":[988],"Choe":[992],"(1990)":[993],"Brav,":[995],"Graham,":[996],"Harvey,":[997],"(2005).":[1000],"Eije":[1004],"Megginson":[1006],"(2008),":[1007],"demonstrates":[1010],"still":[1014],"responsive":[1015],"earnings.":[1017],"supports":[1025],"cost-based":[1027]},"counts_by_year":[{"year":2020,"cited_by_count":1}],"updated_date":"2026-11-11T12:16:26.678958","created_date":"2016-06-24T00:00:00"}
