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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

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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    Date Created
    • 2015
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  • Text
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    • Partial requirement for: Ph.D., Arizona State University, 2015
      Note type
      thesis
    • Includes bibliographical references (pages 74-78)
      Note type
      bibliography
    • Field of study: Economics

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    Statement of Responsibility

    by Tae Eui Lee

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