How Long to Read Corporate Payout Policy

How Long Does it Take to Read Corporate Payout Policy?

It takes the average reader 3 hours and 39 minutes to read Corporate Payout Policy by Harry DeAngelo

Assuming a reading speed of 250 words per minute. Learn more

Description

Corporate Payout Policy synthesizes the academic research on payout policy and explains "how much, when, and how". That is (i) the overall value of payouts over the life of the enterprise, (ii) the time profile of a firm's payouts across periods, and (iii) the form of those payouts. The authors conclude that today's theory does a good job of explaining the general features of corporate payout policies, but some important gaps remain. So while our emphasis is to clarify "what we know" about payout policy, the authors also identify a number of interesting unresolved questions for future research. Corporate Payout Policy discusses potential influences on corporate payout policy including managerial use of payouts to signal future earnings to outside investors, individuals' behavioral biases that lead to sentiment-based demands for distributions, the desire of large block stockholders to maintain corporate control, and personal tax incentives to defer payouts. The authors highlight four important "carry-away" points: the literature's focus on whether repurchases will (or should) drive out dividends is misplaced because it implicitly assumes that a single payout vehicle is optimal; extant empirical evidence is strongly incompatible with the notion that the primary purpose of dividends is to signal managers' views of future earnings to outside investors; over-confidence on the part of managers is potentially a first-order determinant of payout policy because it induces them to over-retain resources to invest in dubious projects and so behavioral biases may, in fact, turn out to be more important than agency costs in explaining why investors pressure firms to accelerate payouts; the influence of controlling stockholders on payout policy --- particularly in non-U.S. firms, where controlling stockholders are common --- is a promising area for future research. Corporate Payout Policy is required reading for both researchers and practitioners interested in understanding this central topic in corporate finance and governance.

How long is Corporate Payout Policy?

Corporate Payout Policy by Harry DeAngelo is 215 pages long, and a total of 54,825 words.

This makes it 73% the length of the average book. It also has 67% more words than the average book.

How Long Does it Take to Read Corporate Payout Policy Aloud?

The average oral reading speed is 183 words per minute. This means it takes 4 hours and 59 minutes to read Corporate Payout Policy aloud.

What Reading Level is Corporate Payout Policy?

Corporate Payout Policy is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Corporate Payout Policy?

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