This thesis comprises two related empirical studies that investigate the relationships between dividend payout and (i) capital structure (debt to equity ratio) and (ii) equity compensation (CEOs and CFOs) in an Australian setting. I apply lifecycle theory to explain these potential relationships and I consider both the likelihood of firms paying dividends and the level of dividend payments. I find that the relationships change as firms progress from birth to mature. Further, my results show that CEOs are more concerned about firms paying dividends while CFOs focus on the level of dividend payments.
|Qualification||Doctor of Philosophy|
|Award date||13 Dec 2017|
|Publication status||Unpublished - 2017|