Dividend Policy and Investor Pressure
(2019)
Journal Article
Driver, C., Grosman, A., & Scaramozzino, P. (2020). Dividend Policy and Investor Pressure. Economic Modelling, 89, 559-576. https://doi.org/10.1016/j.econmod.2019.11.016
The economics of dividend policy has focused on the single tight narrative that dividends keep managers honest, mitigating concerns that they over-invest. This article provides a critique of that agency narrative, arguing that pressure from short-ter... Read More about Dividend Policy and Investor Pressure.