Publication
Title
Dividend policies of privately held companies : stand alone companies and group companies in Belgium
Author
Abstract
This study examines the dividend policies of privately held Belgian companies, differentiating between stand-alone companies and those affiliated with a business group. We find that privately held companies typically do not pay dividends. Compared to public companies, they are less likely to pay dividends and they have lower dividend payouts. Our results also suggest that group companies pay more dividends than stand-alone companies, consistent with the hypothesis that tax-exempt group firms redistribute dividend payments on the group's internal capital market. Group companies pay higher dividends if they have minority shareholders.
Language
English
Source (journal)
European financial management. - Oxford
Publication
Oxford : 2012
ISSN
1354-7798
Volume/pages
18:5(2012), p. 816-835
ISI
000310318900004
Full text (Publishers DOI)
Full text (publishers version - intranet only)
UAntwerpen
Faculty/Department
Research group
Publication type
Subject
Affiliation
Publications with a UAntwerp address
External links
Web of Science
Record
Identification
Creation 29.10.2012
Last edited 13.04.2017
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