학술논문
THE CAUSALITY AMONG SOUTH KOREAN FIRMS' EARNINGS, DIVIDEND POLICY, AND INVESTMENT DECISION
이용수 10
- 영문명
- 발행기관
- People & Global Business Association
- 저자명
- Yong H Kim Gun hee Lee Jong C Rhim Jun Gyu Kang
- 간행물 정보
- 『Global Business and Finance Review』Vol.11 No.2, 21~30쪽, 전체 10쪽
- 주제분류
- 경제경영 > 경영학
- 파일형태
- 발행일자
- 2006.12.31
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국문 초록
영문 초록
This paper examines the causality among earnings, dividends and investments using the Granger-causality model. Using a sample of publicly traded South Korean manufacturing companies, we find that investments cause earnings. We also find that earnings cause dividends and investments cause dividends. These findings are supportive of non-trivial agency costs, asymmetric information, and their implications. The findings imply that corporate financial decisions should be analyzed within a simultaneous model framework.
목차
Abstract
INTRODUCTION
LITERATURE REVIEW AND HYPOTHESIS
DATA AND MODEL
EMPIRICAL RESULTS
CONCLUSION
REFERENCES
키워드
해당간행물 수록 논문
- DO SECTOR RETURNS LEAD THE STOCK MARKET? THE INTERNATIONAL EVIDENCE
- ON OUTSIDE DIRECTOR TRADING BEHAVIOR AROUND SEASONED EQUITY OFFERINGS: AN EXTENSION
- THE STOCK MARKET PERFORMANCE OF DEMUTUALIZED THRIFTS
- THE CAUSALITY AMONG SOUTH KOREAN FIRMS' EARNINGS, DIVIDEND POLICY, AND INVESTMENT DECISION
- INFLATION UNCERTAINTY AND INFLATION: IMPLICATIONS OF ADJUSTMENT AND ECONOMIC RECOVERY PROGRAMS IN SUB-SAHARAN AFRICA
- VERTICAL SPECIALIZATION IN THE PRODUCTION ACROSS COUNTRIES
- RESPONSE ASYMMETRIES IN HONG KONG, SINGAPORE, TAIWAN, AND THAILAND EQUITY MARKETS: DOES TIME PERIOD MATTER?
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