Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis

Detalhes bibliográficos
Autor(a) principal: Abreu, J. F.
Data de Publicação: 2013
Outros Autores: Gulamhussen, M.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://ciencia.iscte-iul.pt/public/pub/id/9964
http://hdl.handle.net/10071/9873
Resumo: We study dividend payouts of 462 U.S. bank holding companies before and during the 2007-09 financial crisis. Fama and French (2001) characteristics (size, profitability and growth opportunities) explain dividend payouts before and during the financial crisis. The agency cost hypothesis explains dividend payouts before and during (more pronouncedly) the financial crisis. The signaling hypothesis explains dividend payouts during the financial crisis. Regulatory pressure was ineffective in limiting dividend payouts by undercapitalized banks before the financial crisis. Our findings have implications for corporate finance and governance theories, and also for the regulatory reforms that are being discussed among policymakers.
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spelling Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisisBanksBank regulationDividendsFinancial crisisWe study dividend payouts of 462 U.S. bank holding companies before and during the 2007-09 financial crisis. Fama and French (2001) characteristics (size, profitability and growth opportunities) explain dividend payouts before and during the financial crisis. The agency cost hypothesis explains dividend payouts before and during (more pronouncedly) the financial crisis. The signaling hypothesis explains dividend payouts during the financial crisis. Regulatory pressure was ineffective in limiting dividend payouts by undercapitalized banks before the financial crisis. Our findings have implications for corporate finance and governance theories, and also for the regulatory reforms that are being discussed among policymakers.Elsevier2015-09-25T17:28:12Z2013-01-01T00:00:00Z20132015-09-25T17:08:26Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://ciencia.iscte-iul.pt/public/pub/id/9964http://hdl.handle.net/10071/9873eng0929-1199Abreu, J. F.Gulamhussen, M.info:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-07-07T03:25:19Zoai:repositorio.iscte-iul.pt:10071/9873Portal AgregadorONGhttps://www.rcaap.pt/oai/openairemluisa.alvim@gmail.comopendoar:71602024-07-07T03:25:19Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
title Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
spellingShingle Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
Abreu, J. F.
Banks
Bank regulation
Dividends
Financial crisis
title_short Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
title_full Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
title_fullStr Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
title_full_unstemmed Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
title_sort Dividend payouts: evidence from U.S. bank holding companies in the context of the financial crisis
author Abreu, J. F.
author_facet Abreu, J. F.
Gulamhussen, M.
author_role author
author2 Gulamhussen, M.
author2_role author
dc.contributor.author.fl_str_mv Abreu, J. F.
Gulamhussen, M.
dc.subject.por.fl_str_mv Banks
Bank regulation
Dividends
Financial crisis
topic Banks
Bank regulation
Dividends
Financial crisis
description We study dividend payouts of 462 U.S. bank holding companies before and during the 2007-09 financial crisis. Fama and French (2001) characteristics (size, profitability and growth opportunities) explain dividend payouts before and during the financial crisis. The agency cost hypothesis explains dividend payouts before and during (more pronouncedly) the financial crisis. The signaling hypothesis explains dividend payouts during the financial crisis. Regulatory pressure was ineffective in limiting dividend payouts by undercapitalized banks before the financial crisis. Our findings have implications for corporate finance and governance theories, and also for the regulatory reforms that are being discussed among policymakers.
publishDate 2013
dc.date.none.fl_str_mv 2013-01-01T00:00:00Z
2013
2015-09-25T17:28:12Z
2015-09-25T17:08:26Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://ciencia.iscte-iul.pt/public/pub/id/9964
http://hdl.handle.net/10071/9873
url https://ciencia.iscte-iul.pt/public/pub/id/9964
http://hdl.handle.net/10071/9873
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0929-1199
dc.rights.driver.fl_str_mv info:eu-repo/semantics/embargoedAccess
eu_rights_str_mv embargoedAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv mluisa.alvim@gmail.com
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