Publication
Title
Bank affiliations and corporate dividend policy in pre-World War I Belgium
Author
Abstract
We investigate the impact of universal banks on the dividend policy of affiliated companies, in an environment characterised by poor investor protection, booming stock markets and strong banks. Our results, based on a unique sample of 428 listed companies in pre-World War I Belgium, are consistent with the hypothesis that companies with good investment opportunities and a bank director on their board paid higher dividends to establish a good reputation with investors. However, our results also indicate that companies with several bank directors and companies in which the bank had an equity stake paid lower dividends.
Language
English
Source (journal)
Business history. - London
Publication
London : 2010
ISSN
0007-6791
Volume/pages
52:4(2010), p. 594-620
ISI
000280264700004
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 27.07.2010
Last edited 23.05.2017
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