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Applied Economics Letters Volume 27, 2020 - Issue 4
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Articles

Stock liquidity, agency cost, and dividend payouts

Yi HuHanqing Advanced Institute of Economics and Finance, Renmin University of China, Beijing, China
,
Weiwei HuangHanqing Advanced Institute of Economics and Finance, Renmin University of China, Beijing, ChinaCorrespondence[email protected]
ORCID Iconhttps://orcid.org/0000-0003-2694-6139
ORCID Icon &
Zihao ChenDepartment of Economics and Finance, Queensland University of Technology, Brisbane, Australia
Pages 335-339 | Published online: 03 Jun 2019

References

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  • Bebchuk, L., A. Cohen, and A. Ferrell. 2008. “What Matters in Corporate Governance?” Review of Financial Studies 22 (2): 783–827. doi:10.1093/rfs/hhn099.
  • Brockman, P., and E. Unlu. 2009. “Dividend Policy, Creditor Rights, and the Agency Costs of Debt.” Journal of Financial Economics 92 (2): 276–299. doi:10.1016/j.jfineco.2008.03.007.
  • Brogaard, J., D. Li, and Y. Xia. 2017. “Stock Liquidity and Default Risk.” Journal of Financial Economics 124 (3): 486–502. doi:10.1016/j.jfineco.2017.03.003.
  • Easterbrook, F. H. 1984. “Two Agency-Cost Explanations of Dividends.” American Economic Review 74 (4): 650–659.
  • Edmans, A., V. W. Fang, and E. Zur. 2013. “The Effect of Liquidity on Governance.” Review of Financial Studies 26 (6): 1443–1482. doi:10.1093/rfs/hht012.
  • Fang, V. W., X. Tian, and S. Tice. 2014. “Does Stock Liquidity Enhance or Impede Firm Innovation?” Journal of Finance 69 (5): 2085–2125. doi:10.1111/jofi.12187.
  • Jiang, F., Y. Ma, and B. Shi. 2017. “Stock Liquidity and Dividend Payouts.” Journal of Corporate Finance 42: 295–314. doi:10.1016/j.jcorpfin.2016.12.005.
  • La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. W. Vishny. 2000. “Agency Problems and Dividend Policies around the World.” Journal of Finance 55 (1): 1–33. doi:10.1111/0022-1082.00199.

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