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dc.contributor.authorDuante Neves, Maria Elisabete-
dc.date.accessioned2019-05-24T10:48:25Z-
dc.date.available2019-05-24T10:48:25Z-
dc.date.issued2017-
dc.identifier.citationDuante Neves, M. E. (2017). Payout and firm’s catering. International Journal of Economics and Business Administration, 5(4), 104-132.en_GB
dc.identifier.issn23817356-
dc.identifier.urihttps://www.um.edu.mt/library/oar//handle/123456789/43489-
dc.description.abstractThis paper is built upon the predictions of the catering theory of dividends and examines whether investor sentiments exert significant influence on corporate dividend policy. Accordingly, we propose a dividend model that incorporates a variable at the firm-level proxy for the catering effect. Estimation of the model using the GMM shows that firms in Eurozone countries cater to their investors’ sentiments, and the model provides evidence supporting the catering model. Additionally, we show an interaction effect between catering and firm characteristics, particularly liquid assets, investment opportunities, and levels of free cash flow.en_GB
dc.description.sponsorshipThis work is supported by: European Structural and Investment Funds in the FEDER component, through the Operational Competitiveness and Internationalization Programme (COMPETE 2020) [Project No. 006971 (UID/SOC/04011)]; and national funds, through the FCT – Portuguese Foundation for Science and Technology under the project UID/SOC/04011/2013.en_GB
dc.language.isoenen_GB
dc.publisherEleftherios Thalassinosen_GB
dc.rightsinfo:eu-repo/semantics/openAccessen_GB
dc.subjectInvestments -- Managementen_GB
dc.subjectDividendsen_GB
dc.subjectInvestment analysisen_GB
dc.subjectCorporations -- Financeen_GB
dc.titlePayout and firm’s cateringen_GB
dc.typearticleen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.description.reviewedpeer-revieweden_GB
dc.publication.titleInternational Journal of Economics and Business Administrationen_GB
Appears in Collections:IJEBA, Volume 5, Issue 4

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