Lifecycle theory and dividend payout

Chao Ding

doi:10.4225/23/5a3b49056a609

Lifecycle theory and dividend payout

Chao Ding

UWA Business School

Research output: Thesis › Doctoral Thesis

662 Downloads (Pure)

Abstract

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.

Original language	English
Qualification	Doctor of Philosophy
Awarding Institution	The University of Western Australia
Supervisors/Advisors	Chang, Millicent, Supervisor Holub, Mark, Supervisor
Award date	13 Dec 2017
DOIs	https://doi.org/10.4225/23/5a3b49056a609
Publication status	Unpublished - 2017

Access to Document

10.4225/23/5a3b49056a609

THESIS - DOCTOR OF PHILOSOPHY - DING Chao - 2017
This work is protected by Copyright. You may print or download ONE copy of this document for the purpose of your own non-commercial research or study. Any other use requires permission from the copyright owner. The Copyright Act requires you to attribute any copyright works you quote or paraphrase.

Cite this

@phdthesis{91a6d18e9a15482bb6da3e5a0620d76d,

title = "Lifecycle theory and dividend payout",

abstract = "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.",

keywords = "Dividend, Capital structure, Equity compensation, Lifecycle theory",

author = "Chao Ding",

year = "2017",

doi = "10.4225/23/5a3b49056a609",

language = "English",

school = "The University of Western Australia",

}

TY - BOOK

T1 - Lifecycle theory and dividend payout

AU - Ding, Chao

PY - 2017

Y1 - 2017

N2 - 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.

AB - 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.

KW - Dividend

KW - Capital structure

KW - Equity compensation

KW - Lifecycle theory

U2 - 10.4225/23/5a3b49056a609

DO - 10.4225/23/5a3b49056a609

M3 - Doctoral Thesis

ER -

Lifecycle theory and dividend payout

Abstract

Access to Document

Fingerprint

Cite this