R -Squared and Dividend Payout: Evidence from the Korean Market

Sang Koo Kang and Haksoon Kim

Emerging Markets Finance and Trade, 2013, vol. 49, issue S4, 104-118

Abstract: The authors investigate R 2 and its relationship with dividend payouts in the Korean stock market. R 2 is derived from the market model regression. Their results are consistent with the previous literature on corporate governance and dividend payouts: they find that R 2 is higher for business group (chaebol) firms and that there is a negative relationship between R 2 and dividend payout. However, the relationship is not stronger for the business group firms than for the non-business group firms. The findings elucidate the relationship between R 2 and dividend payout policy in the United States.

Keywords: corporate governance; dividend payout; R 2 (search for similar items in EconPapers)
Date: 2013
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