Changes in dividend smoothing after the financial crisis

KyungJae Rhee and Kyung Suh Park

Economics Letters, 2018, vol. 172, issue C, 37-39

Abstract: This study examines changes in dividend smoothing among Korean firms after the financial crisis in 2008, and analyzes the factors influencing those changes. We find that the speed of adjustment of firms after the crisis has increased above pre-crisis levels, indicating that firms focus more on investments and the appropriate level of cash facing increased corporate risk, while such tendency is stronger for small firms with higher investment levels.

Keywords: Financial crisis; Dividend smoothing; Speed of adjustment; Dividend residual theory (search for similar items in EconPapers)
JEL-codes: F65 G01 G35 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:172:y:2018:i:c:p:37-39

DOI: 10.1016/j.econlet.2018.08.019

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