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Zero leverage and dividend policy

delete2023-12-01
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OA
AI
H
Helen Roberts *
DOI:10.1016/j.frl.2023.104430delete
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摘要

摘要

En 中文
This study investigates zero leverage firms and their choice to pay dividends among New Zealand (NZ) listed firms for the period 2007 - 2021. Overall our findings indicate that after allowing for financial constraints limiting firm debt capacity and firm preference for financial flexibility, firm priority to pay dividends affects firm debt levels. Additional analysis shows that dividend paying firms with growth opportunities will increase short-term debt to maintain dividend payments.
Keyword:
Zero leverage
Capital structure
Dividend policy
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期刊

Finance Research Letters 封面图
Finance Research Letters
IF:
6.9
论文数:
9.1K
被引数:
2.8W

机构

U
University of Auckland
学者数:
2.3W
论文数: 2.4W
被引数: 3.3W
U
university of otago
学者数:
1.8W
论文数: 1.6W
被引数: 15
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