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

Bibliographic Details
Main Author: Abreu, J. F.
Publication Date: 2013
Other Authors: Gulamhussen, M.
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: https://ciencia.iscte-iul.pt/public/pub/id/9964
http://hdl.handle.net/10071/9873
Summary: 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.
id RCAP_9aea76c78e7b3a33a47ced74f533c9fe
oai_identifier_str oai:repositorio.iscte-iul.pt:10071/9873
network_acronym_str RCAP
network_name_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository_id_str https://opendoar.ac.uk/repository/7160
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:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-07-07T03:25:19Zoai:repositorio.iscte-iul.pt:10071/9873Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T18:23:07.937713Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
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:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
_version_ 1833597374832836608

Similar Items