Please use this identifier to cite or link to this item: https://ktisis.cut.ac.cy/handle/10488/10967
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dc.contributor.authorCooper, Ian A.-
dc.contributor.authorLambertides, Neophytos-
dc.date.accessioned2018-04-20T10:41:27Z-
dc.date.available2018-04-20T10:41:27Z-
dc.date.issued2018-02-01-
dc.identifier.citationJournal of Corporate Finance, 2018, Volume 48, Pages 17-33en_US
dc.identifier.issn09291199-
dc.identifier.urihttp://ktisis.cut.ac.cy/handle/10488/10967-
dc.description.abstractThis study documents the fact that large dividend increases are followed by a significant increase in leverage, consistent with management increasing the dividend to use up excess debt capacity. However, the leverage increase is not captured by a standard partial adjustment model of leverage. Nor does it reflect variables known to be related to dividend increases, such as firm maturity, investment, and risk. Instead, the dividend increase signals a complex change in the way firms adjust to their leverage target, but it does not signal a change in the target.en_US
dc.formatpdfen_US
dc.language.isoenen_US
dc.publisherElsevier B.V.en_US
dc.rights© 2017 Elsevier B.V.en_US
dc.subjectCapital structureen_US
dc.subjectDividend policyen_US
dc.subjectDividend changesen_US
dc.subjectLeverageen_US
dc.titleLarge dividend increases and leverageen_US
dc.typeArticleen_US
dc.doihttps://doi.org/10.1016/j.jcorpfin.2017.10.011en_US
dc.collaborationLondon Business Schoolen_US
dc.collaborationCyprus University of Technologyen_US
dc.subject.categoryEconomics and Businessen_US
dc.journalsSubscription Journalen_US
dc.countryUnited Kingdomen_US
dc.countryCyprusen_US
dc.subject.fieldSocial Sciencesen_US
dc.publicationPeer Revieweden_US
cut.common.academicyear2017-2018en_US
item.grantfulltextnone-
item.fulltextNo Fulltext-
item.languageiso639-1other-
crisitem.author.deptDepartment of Commerce, Finance and Shipping-
crisitem.author.facultyFaculty of Management and Economics-
crisitem.author.orcid0000-0003-2864-1793-
crisitem.author.parentorgFaculty of Management and Economics-
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