This dissertation consists of two essays on corporate policy. The first chapter analyzes whether being labeled a “growth” firm or a “value” firm affects the firm’s dividend policy. I focus on the dividend policy because of its discretionary nature and the link to investor demand. To address endogeneity concerns, I use regression discontinuity design around the threshold to assign firms to each category. The results show that “value” firms have a significantly higher dividend payout - about four percentage points - than growth firms.
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- Partial requirement for: Ph.D., Arizona State University, 2015Note typethesis
- Includes bibliographical references (pages 74-78)Note typebibliography
- Field of study: Economics