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  • 12 May 2015
  • Working Paper Summaries

Financing Payouts

Keywords: by Joan Farre-Mensa, Roni Michaely & Martin C. Schmalz
  • 28 Apr 2014
  • Working Paper Summaries

Payout Policy

Keywords: by Joan Farre-Mensa, Roni Michaely & Martin C. Schmalz
  • 23 Dec 2014
  • First Look

First Look: December 23

descriptive methods. Download working paper: http://ssrn.com/abstract=2537079 Financing Payouts By: Farre-Mensa, Joan, Roni Michaely, and Martin C. Schmalz Abstract—Despite the obvious interest in payout... View Details
Keywords: Carmen Nobel
  • 2014
  • Chapter

Payout Policy

By: Joan Farre-Mensa, Roni Michaely and Martin Schmalz
We survey the literature on payout policy, with a particular emphasis on developments in the last two decades. Of the traditional motives of why firms pay out (agency, signaling, and taxes), the cross-sectional empirical evidence is most persuasive in favor of agency... View Details
Keywords: Finance; Investment; Financial Services Industry
Related
  • 2016
  • Working Paper

Financing Payouts

By: Joan Farre-Mensa, Roni Michaely and Martin Schmalz
We study the extent to which firms rely on the capital markets to fund their payouts. We find that 42% of firms that pay out capital also initiate debt or equity issues in the same year, resulting in 32% of aggregate payouts being externally financed. Most firms with... View Details
Keywords: Payout Policy; Financing Decisions; Debt Issues; Equity Issues; Capital Structure; Decision Making; Financing and Loans; Corporate Finance
Related
  • 22 Apr 2014
  • First Look

First Look: April 22

https://www.hbs.edu/faculty/Pages/download.aspx?name=13-064.pdf Comparing the Cash Policies of Public and Private Firms By: Farre-Mensa, Joan Abstract—I document that public U.S. firms hold twice as much cash... View Details
Keywords: Sean Silverthorne