The Role of Institutional Ownership and Industry Characteristics on the Propensity to Pay Dividend: An Insight from Company Open Innovation
The purpose of this study is to test the free cash flow agency theory hypothesis; namely, (a) whether differences in industrial sector affect a company’s propensity to pay dividends, and (b) whether institutional ownership is able to substitute for the propensity to pay dividends as a bonding mechan...
| Published in: | Journal of Open Innovation: Technology, Market and Complexity |
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| Main Authors: | , , , |
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2020-09-01
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| Subjects: | |
| Online Access: | https://www.mdpi.com/2199-8531/6/3/74 |