We examine explanations for corporate financing-, dividend-, and compensation-policy issues. We document robust empirical relations among corporate policy decis

A firm's value consists of its assets-in-place and growth opportunities: its investment opportunity set. IOS plays a major role in determining a firm's corporat

Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over