Dividend
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Monitoring and managerial discretion effects on agency costs: Evidence from an emerging economy
We analyzed the effect of managerial ownership, leverage, and managerial discretion on the agency costs of 14,719 Chilean companies. The results of the instrumental variables (IV) regressions indicate that managerial ownership and capital structure have a negative and nonlinear effect on agency costs. Managerial ownership concentration is an effective means of internal control over agency costs,...
...However, other studies have examined factors such as firm’s performance and dividend policy, and have indirectly concluded that financing policy is an effective control mechanism that mitigates agency costs and improves corporate ... -
Domestic markets and foreign investiment regulation: a functional analysis of CFIUS/ Regulacao do mercado interno e do investimento estrangeiro: analise funcional do CFIUS.
..., operational, or research and development facilities of the entity; (4) Major expenditures or investments, issuances of equity or debt, or dividend payments by the entity, or approval of the operating budget of the entity; (5) The selection of new business lines or ventures that the entity will ...
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The organizational restructuring performative act under shareholder value management ideology.
.... However, in public, in its yearly reports, the company made available the following information: dividend value per share, operational cash flow, total capital return (RT) and return on equity (ROE). The publication of Corp's results by means of these ...
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Nonparametric Estimation of Risk-Neutral Distribution via the Empirical Esscher Transform/Estimacao Nao Parametrica da Distribuicao Neutra ao Risco atraves da Transformada de Esscher Empirica.
.... The price of a European call on a non-dividend-paying stock is obtained under the risk-neutral distribution q(ST) and the payoff is discounted at the deterministic risk-free rate : . [mathematical ...
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Nonparametric option pricing under Beta-t-GARCH process with dynamic conditional score.
...The pricing formula for a European call option with maturity T on a non-dividend-paying stock is given by. C = [S.sub.0]N([d.sub.1]) - [Ke.sup.-rT]N([d.sub.2]),. where. [Please download the PDF to view the mathematical ...
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Learning theory and equity valuation: an empirical analysis.
...The learning literature attributes the occurrence of such phenomena to parameter revision by rational agents in their dividend forecasting models. Pástor and Veronesi (2003) have developed a model that relates learning concepts to equity valuation. One of the model's ...
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ADMINISTRAÇÃO INDIRETA - PRODUTOS AGROTÓXICOS ATÉ 27 DE SETEMBRO DE 2018
... . . IV . . . SYNGENTA. PROTEÇÃO DE CULTIVOS LTDA . . . . . 2067 . . . 11917 . . . DIVIDEND. SUPREME . . . TIAMETOXAM. + DIFENOCONAZOL + METALAXIL-M . . . 92,3 G/L + . 36,92 G/L + . 3,08 G/L . . . I . ...
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Securities Commission Issues Decision On 'Superpreferred' Shares
...The refusal was motivated by a provision of Azul's by-laws establishing that preferred shares are entitled to a dividend equivalent to 75 times the dividend payable to common shares. Pursuant to the CVM's department that reviewed the application, such provision of the ...
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Ações de bancos, uma aposta para médio e longo prazos
...Levantamento da consultoria Economática mostra que, no ano passado, o chamado Dividend yield (retorno com dividendos) do Santander foi de 12,68%, o segundo maior entre todas as empresas de capital aberto. O do BB foi de 9,89%. Os ...
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Petrobras foi a maior pagadora de dividendos no mundo durante 2º trimestre, diz Janus Henderson
... de petróleo contribuíram com mais de dois quintos do crescimento do segundo trimestre", aponta o levantamento do Janus Henderson Global Dividend Index (JHGDI). Bancos e empresas de consumo discricionário se destacam.A Petrobras pagou US$ 9,7 bilhões no período, acima dos US$ 1 bilhão no ...
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Creditors demand $100m in lawsuit against General Shopping
... was not allowed to pay extra dividends, under penalty of having to pay interest in arrears on the bonds.In their view, only the minimum dividend payment of 25% on the profit generated after the restructuring would be appropriate.General, in practice, is the plaintiff in this case in which the ...
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Retailers' rush to tap equity market prompts debate over asset quality
...There are some offerings not expected, off the radar, using the digitalization discourse, and others to reduce debt and even to pay dividend," says an asset-management firm's partner. Track & Field is proposing the creation of a "super-preferred" share, with 10 times the economic right of ...
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Levantamento aponta as 23 ações que mais pagarão dividendos este ano
... ações com maior potencial de pagamento de dividendos este ano, considerando aquelas com retorno acima de 9,5% ao ano.A ação com melhor dividend yield projetado para 2022 é a Bradespar, nos papéis ordinários (ON, com direito a voto): 44,53%. No caso das ações preferenciais (PN, sem voto), ...
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Foreigners will continue to buy Brazil, XP says
...An investment yielding one dollar plus 5% in the world’s least risky asset is much more attractive than the S&P dividend, which is around 2% to 2.5%. In Brazil, higher interest rates for longer abroad will affect the Selic [Brazil’s key interest rate). The [Brazilian] ...
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Fiscal framework reduces debt increase risk, says JGP founder
...He says that Brazil has lost its demographic dividend and, having always had low productivity, can no longer compensate for the loss.According to the initial data from the 2022 Census, released in June ...
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Multiple Dimensions of Community Network Scalability
.... 90 For instance, maximization of the dividend to shareholders. . 91 For instance, that the network resources and customers are mere speculative assets. . . 6 Multiple Dimensions of Community ...
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Determinants of the capital structure of small and medium sized Brazilian enterprises.
...Additionally, we lack data on cash flows, dividend payments and capital expenditures, as well as on debt and equity issuance. Thus, we cannot test whether the financing deficits are closely tracked by ...
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Investigación contable, un estudio bibliométrico: identificación de publicaciones relevantes y examen de la estructura intelectuall
Este artigo examina a pesquisa contábil ao longo das últimas duas décadas, definida como estudos publicados em seis periódicos acadêmicos de contabilidade entre 1995 e 2014. Especificamente tem por objetivos: identificar os artigos relevantes (mais citados) e reconhecer grupos de conhecimento em contabilidade explorando a estrutura intelectual da disciplina. Como resultado da análise da citação sã
... Current Comments , n. 19, p.3-13, 1993. . SMITH, Clifford W.; WATTS, Ross L. The investment opportunity set and corporate financing, dividend, and compensation policies. Journal of financial Economics , v. 32, n. 3, p. 263–292, 1992. . SODERSTROM, Naomi; SUN, Kevin Jialin. IFRS ... -
Accounting Conservatism and the Market Value of Cash Holdings in Brazil.
...K., MORTON, R. M., & STANFORD-HARRIS, M. (2002). The role of accounting conservatism in mitigating bondholder-shareholder conflicts over dividend policy and in reducing debt costs. The Accounting Review, 77(4), 867-890. ARTIACH, T. C., & CLARKSON, P. (2012). Conservatism, disclosure and the ...
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Capital structure in Brazilian credit unions: which factors are really determinants?
...http://www.planalto.gov.br/ccivil_03/leis/L5764.htm. BUDAGAGA, A. R. (2020). Determinants of banks' dividend payment decisions: Evidence from MENA countries. International Journal of Islamic and Middle Eastern Finance and Management, 13(5), 847-871. ...
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Internal corporate social responsibility and performance: A study of publicly traded companies.
..., developing new products, and sponsoring human resources programs, among others - or simply returning the funds to shareholders through dividend payments is often an issue for executives in such contexts. Without the presentation of projections and return perspectives regarding the decision to ...
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Corporate Governance and Pyramidal Ownership: The Role of Novo Mercado/Governanca Corporativa e Propriedade Piramidal: O Papel do Novo Mercado.
.... Gopalan, Radhakrishnan, Vikram Nanda, and Amit Seru. 2014. " Internal Capital Market and Dividend Policies: Evidence From Business Groups." The Review of Financial Studies 27, n. 4. . Jin, Kyuho, and Choelsoon Park. 2015. "Separation of Cash Flow ...
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Suzhou industrial park and its role in the belt and road initiative: the great stone industrial park in Belarus.
... 0% until 2062 Customs VAT and taxes 0% for the goods imported to start the project 0% if exported outside the Eurasian economic union (EEU) Dividend tax % For 5 years after the income is declared Payments to social security fund 35% of the national average VAT Is return from budget Source(s): ...
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Ownership concentration and governance quality of brazilian firm/Concentracao de propriedade e qualidade da governanca da empresa brasileira.
...Corporate Governance: An International Review, 15(6), 1130-1143. . Lopez-Iturriaga, F. J., & Crisostomo, V. L. (2010). Do leverage, dividend payout and ownership concentration influence firms' value creation? An analysis of Brazilian firms. Emerging Markets Finance and Trade, 46(3), 80-94. ...
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Dissecting Anomalies with the Five-factor Model for the Brazilian Stock Market/Dissecando Anomalias com o Modelo de Cinco Fatores para Mercado Acionario Brasileiro.
...In: XV Encontro Brasileiro De Financas. . Miller, M. H. e Modigliani, F. (1961). Dividend Policy, Growth, and the Valuation of Shares. The Journal of Business, 34 (4): 411-433. . Mossin, J. (1966). Equilibrium in a Capital Asset Market. ...