The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies
Author | : Clifford W. Smith |
Publisher | : |
Total Pages | : |
Release | : 2006 |
ISBN-10 | : OCLC:1291202937 |
ISBN-13 | : |
Rating | : 4/5 ( Downloads) |
Download or read book The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies written by Clifford W. Smith and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine explanations for corporate financing-, dividend-, and compensation-policy issues. We document robust empirical relations among corporate policy decisions and various firm characteristics. Our evidence suggests contracting theories are more important in explaining cross-sectional variation in observed financial, dividend, and compensation policies than either tax-based or signaling theories.