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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/116136

    Title: Dividend payouts and family-controlled firms – The effect of culture on business
    Authors: Manhwa Wu;Yensen Ni;Paoyu Huang
    Keywords: Dividend payouts;culture;financial performance;family-controlled firms
    Date: 2019-03-20
    Issue Date: 2019-03-30 12:13:47 (UTC+8)
    Publisher: ELSEVIER
    Abstract: Our paper reveals that family-controlled firms pay less cash dividends than non-family-controlled firms in Taiwan, which differs from moderating proxy problems by increasing dividend payouts due to reduced free cash flow. These family-controlled firms might not be regarded as a problem due to the improved corporate governance and high firm value in Taiwan, which is contrary to relevant studies. Dividend payouts for family-controlled firms in the West and East, such as asset allocation, might be affected by various factors, including culture, nationality, and philosophy, which are seldom considered deliberately in existing literature.
    Relation: The Quarterly Review of Economics and Finance
    DOI: 10.1016/j.qref.2019.03.004
    Appears in Collections:[管理科學學系暨研究所] 期刊論文

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