An Empirical Study on Savings Banks' ownership Structure and Dividends (in Korean)

Hakkon Kim ()
Additional contact information
Hakkon Kim: Department of International Business, College of Business, Chungbuk National University

Economic Analysis (Quarterly), 2018, vol. 24, issue 1, 46-66

Abstract: By using 96 savings banks data, we examine the relationship between savings bank's ownership structure and dividends. Our results show that the concentration of ownership structure can increase savings bank's dividends. In addition, results of our tests suggest that the positive relation between ownership structure and dividends is stronger in savings banks which have a higher level of available funds. However, the empirical results show that the positive relation between ownership structure and dividends is weaker in savings banks which have a higher level of outside director ratio and below 5% of BIS ratio. Although the results imply that dividends can be used as a means of owner managers' private interests, those also can reduce the free cash flow of owner managers and agency costs.

Keywords: Savings bank; Dividends; Ownership structure; BIS capital adequacy ratio; Real available fund ratio (search for similar items in EconPapers)
JEL-codes: G20 G28 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.bok.or.kr/ucms/cmmn/file/fileDown.do?m ... 00001022204&fileSn=1 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bok:journl:v:24:y:2018:i:1:p:46-66

Access Statistics for this article

Economic Analysis (Quarterly) is currently edited by Wook Sohn, Hwan-koo Kang and Jaerang Lee

More articles in Economic Analysis (Quarterly) from Economic Research Institute, Bank of Korea Contact information at EDIRC.
Bibliographic data for series maintained by Economic Research Institute ().