Understanding corporate payouts and asymmetric cost behavior:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Köln
[2021]
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis Inhaltsverzeichnis |
| Item Description: | Literaturverzeichnis: Seite 112-120 |
| Physical Description: | XIV, 120 Seiten Diagramme |
Staff View
MARC
| LEADER | 00000nam a22000008c 4500 | ||
|---|---|---|---|
| 001 | BV047866000 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | t | ||
| 008 | 220304s2021 gw |||| m||| 00||| eng d | ||
| 016 | 7 | |a 1248246101 |2 DE-101 | |
| 020 | |c Broschur | ||
| 035 | |a (OCoLC)1268572494 | ||
| 035 | |a (DE-599)KXP1771280565 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 044 | |a gw |c XA-DE-NW | ||
| 049 | |a DE-355 | ||
| 084 | |a 330 |2 sdnb | ||
| 100 | 1 | |a Schick, Roman |e Verfasser |0 (DE-588)1240726589 |4 aut | |
| 245 | 1 | 0 | |a Understanding corporate payouts and asymmetric cost behavior |c vorgelegt von M.Sc. Roman Schick |
| 264 | 1 | |a Köln |c [2021] | |
| 300 | |a XIV, 120 Seiten |b Diagramme | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Literaturverzeichnis: Seite 112-120 | ||
| 502 | |b Dissertation |c Universität zu Köln |d 2021 | ||
| 655 | 7 | |0 (DE-588)4113937-9 |a Hochschulschrift |2 gnd-content | |
| 710 | 2 | |a Universität zu Köln |0 (DE-588)2024231-1 |4 dgg | |
| 856 | 4 | 2 | |m B:DE-101 |q application/pdf |u https://d-nb.info/1248246101/04 |3 Inhaltsverzeichnis |
| 856 | 4 | 2 | |m DNB Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033248542&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-033248542 | ||
Record in the Search Index
| _version_ | 1804183442953338880 |
|---|---|
| adam_text | TABLE
OF
CONTENTS
LIST
OF
TABLES
...........................................................................................................................
VII
LIST
OF
FIGURES
.......................................................................................................................
VIII
LIST
OF
ABBREVIATIONS
...............................................................................................................
IX
LIST
OF
SYMBOLS
.........................................................................................................................
XI
1
INTRODUCTION
.............................................................................................................................
1
2
COMPLEMENTARITY
OR
SUBSTITUTION:
TIME-VARIANT
IMPLICATIONS
OF
DIVIDENDS
AND
STOCK
REPURCHASES
-
AN
EXPLORATIVE
STUDY
......................................................................................
9
2.1
INTRODUCTION
........................................................................................................................
9
2.2
LITERATURE
REVIEW
AND
MOTIVATION
...................................................................................
13
2.3
EMPIRICAL
RESULTS
..............................................................................................................
15
2.3.1
DATA
............................................................................................................................
15
2.3.2
DESCRIPTIVE
STATISTICS
..................................................................................................
15
2.3.2.1
PAYOUT
PROPENSITY,
PAYOUT
RATIO,
AND
INITIATION
RATIO
.......................................
15
2.3.2.2
FIRM
CHARACTERISTICS
...........................................................................................
25
2.3.3
MODIFIED
EAMINGS
PERSISTENCE
MODEL
BASED
ON
DECHOW,
RICHARDSON,
AND
SLOAN
(2008)
..................................................................................................................................
27
2.3.3.1
FULL
SAMPLE
REGRESSIONS
...................................................................................
27
2.3.3.2
ANNUALIZED
REGRESSIONS
....................................................................................
31
2.3.4
SKINNER
AND
SOLTES
(2011)
MODEL
.............................................................................
35
2.4
ADDITIONAL
TESTS
...............................................................................................................
38
2.4.1
MARKET
REACTIONS
......................................................................................................
38
2.4.2
OPERATING
AND
NON-OPERATING
INCOME
ACROSS
PAYER
GROUPS
..................................
42
2.4.3
SIGNALING
VS.
AGENCY
COST
OF
FREE
CASH
FLOW
.........................................................
44
2.5
CONCLUSION
........................................................................................................................
49
3
HOW
ASYMMETRIC
COST
BEHAVIOR
RELATES
TO
PAYOUT
POLICY
...............................................
51
3.1
INTRODUCTION
......................................................................................................................
51
3.2
LITERATURE
REVIEW
AND
HYPOTHESIS
DEVELOPMENT
............................................................
55
3.2.1
ASYMMETRIC
COST
BEHAVIOR
.......................................................................................
55
3.2.2
PAYOUT
POLICY
.............................................................................................................
56
3.3
DATA
AND
METHODOLOGY
....................................................................................................
58
3.3.1
MODEL
SPECIFICATION
AND
VARIABLE
MEASUREMENT
......................................................
58
3.3.2
DATA
............................................................................................................................
60
3
.4
EMPIRICAL
RESULTS
..............................................................................................................
60
V
3.4.1
THE
EFFECT
OF
PAYOUT
POLICY
ON
COST
STICKINESS
.......................................................
60
3.4.2
TRENDS
OVER
TIME
........................................................................................................
64
3.5
SENSITIVITY
ANALYSES
..........................................................................................................
73
3.5.1
COST
TYPES
AND
INDUSTRY
AFFDIATION
..........................................................................
73
3.5.3
REVERSED
CAUSALITY
......................................................................................................
76
3.6
CONCLUSION
.........................................................................................................................
79
4
THE
EFFECTS
OF
ASYMMETRIC
COST
BEHAVIOR
ON
THE
COST
OF
EQUITY
....................................
81
4.1
INTRODUCTION
.......................................................................................................................
81
4.2
RELATED
LITERATURE
AND
HYPOTHESIS
DEVELOPMENT
.............................................................
84
4.3
DATA
AND
METHODOLOGY
......................................................................................................
87
4.3.1
MODEL
SPECIFICATION
AND
VARIABLE
MEASUREMENT
......................................................
87
4.3.2
DATA
SAMPLE
................................................................................................................
88
4.4
EMPIRICAL
RESULTS
...............................................................................................................
90
4.4.1
THE
EFFECT
OF
ASYMMETRIC
COST
BEHAVIOR
ON
THE
ICC
..............................................
90
4.4.2
THE
INTERACTION
EFFECT
OF
RATIONAL
BEHAVIOR
..............................................................
92
4.5
ADDITIONAL
TESTS
.................................................................................................................
97
4.5.1
SENSITIVITY
ANALYSES
....................................................................................................
97
4.5.2
TIME
PERIOD
ANALYSIS
................................................................................................
101
4.6
CONCLUSION
........................................................................................................................
101
5
CONCLUDING
REMARKS
............................................................................................................
105
5.1
SUMMARY
AND
IMPLICATIONS
OF
MAIN
FINDINGS
................................................................
105
5.2
LIMITATIONS
AND
SUGGESTIONS
FOR
FUTURE
RESEARCH
..........................................................
106
APPENDIX
...................................................................................................................................
109
REFERENCES
.................................................................................................................................
112
VI
|
| adam_txt |
TABLE
OF
CONTENTS
LIST
OF
TABLES
.
VII
LIST
OF
FIGURES
.
VIII
LIST
OF
ABBREVIATIONS
.
IX
LIST
OF
SYMBOLS
.
XI
1
INTRODUCTION
.
1
2
COMPLEMENTARITY
OR
SUBSTITUTION:
TIME-VARIANT
IMPLICATIONS
OF
DIVIDENDS
AND
STOCK
REPURCHASES
-
AN
EXPLORATIVE
STUDY
.
9
2.1
INTRODUCTION
.
9
2.2
LITERATURE
REVIEW
AND
MOTIVATION
.
13
2.3
EMPIRICAL
RESULTS
.
15
2.3.1
DATA
.
15
2.3.2
DESCRIPTIVE
STATISTICS
.
15
2.3.2.1
PAYOUT
PROPENSITY,
PAYOUT
RATIO,
AND
INITIATION
RATIO
.
15
2.3.2.2
FIRM
CHARACTERISTICS
.
25
2.3.3
MODIFIED
EAMINGS
PERSISTENCE
MODEL
BASED
ON
DECHOW,
RICHARDSON,
AND
SLOAN
(2008)
.
27
2.3.3.1
FULL
SAMPLE
REGRESSIONS
.
27
2.3.3.2
ANNUALIZED
REGRESSIONS
.
31
2.3.4
SKINNER
AND
SOLTES
(2011)
MODEL
.
35
2.4
ADDITIONAL
TESTS
.
38
2.4.1
MARKET
REACTIONS
.
38
2.4.2
OPERATING
AND
NON-OPERATING
INCOME
ACROSS
PAYER
GROUPS
.
42
2.4.3
SIGNALING
VS.
AGENCY
COST
OF
FREE
CASH
FLOW
.
44
2.5
CONCLUSION
.
49
3
HOW
ASYMMETRIC
COST
BEHAVIOR
RELATES
TO
PAYOUT
POLICY
.
51
3.1
INTRODUCTION
.
51
3.2
LITERATURE
REVIEW
AND
HYPOTHESIS
DEVELOPMENT
.
55
3.2.1
ASYMMETRIC
COST
BEHAVIOR
.
55
3.2.2
PAYOUT
POLICY
.
56
3.3
DATA
AND
METHODOLOGY
.
58
3.3.1
MODEL
SPECIFICATION
AND
VARIABLE
MEASUREMENT
.
58
3.3.2
DATA
.
60
3
.4
EMPIRICAL
RESULTS
.
60
V
3.4.1
THE
EFFECT
OF
PAYOUT
POLICY
ON
COST
STICKINESS
.
60
3.4.2
TRENDS
OVER
TIME
.
64
3.5
SENSITIVITY
ANALYSES
.
73
3.5.1
COST
TYPES
AND
INDUSTRY
AFFDIATION
.
73
3.5.3
REVERSED
CAUSALITY
.
76
3.6
CONCLUSION
.
79
4
THE
EFFECTS
OF
ASYMMETRIC
COST
BEHAVIOR
ON
THE
COST
OF
EQUITY
.
81
4.1
INTRODUCTION
.
81
4.2
RELATED
LITERATURE
AND
HYPOTHESIS
DEVELOPMENT
.
84
4.3
DATA
AND
METHODOLOGY
.
87
4.3.1
MODEL
SPECIFICATION
AND
VARIABLE
MEASUREMENT
.
87
4.3.2
DATA
SAMPLE
.
88
4.4
EMPIRICAL
RESULTS
.
90
4.4.1
THE
EFFECT
OF
ASYMMETRIC
COST
BEHAVIOR
ON
THE
ICC
.
90
4.4.2
THE
INTERACTION
EFFECT
OF
RATIONAL
BEHAVIOR
.
92
4.5
ADDITIONAL
TESTS
.
97
4.5.1
SENSITIVITY
ANALYSES
.
97
4.5.2
TIME
PERIOD
ANALYSIS
.
101
4.6
CONCLUSION
.
101
5
CONCLUDING
REMARKS
.
105
5.1
SUMMARY
AND
IMPLICATIONS
OF
MAIN
FINDINGS
.
105
5.2
LIMITATIONS
AND
SUGGESTIONS
FOR
FUTURE
RESEARCH
.
106
APPENDIX
.
109
REFERENCES
.
112
VI |
| any_adam_object | 1 |
| any_adam_object_boolean | 1 |
| author | Schick, Roman |
| author_GND | (DE-588)1240726589 |
| author_facet | Schick, Roman |
| author_role | aut |
| author_sort | Schick, Roman |
| author_variant | r s rs |
| building | Verbundindex |
| bvnumber | BV047866000 |
| ctrlnum | (OCoLC)1268572494 (DE-599)KXP1771280565 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| format | Thesis Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>01399nam a22003618c 4500</leader><controlfield tag="001">BV047866000</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">220304s2021 gw |||| m||| 00||| eng d</controlfield><datafield tag="016" ind1="7" ind2=" "><subfield code="a">1248246101</subfield><subfield code="2">DE-101</subfield></datafield><datafield tag="020" ind1=" " ind2=" "><subfield code="c">Broschur</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1268572494</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KXP1771280565</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">gw</subfield><subfield code="c">XA-DE-NW</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-355</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">330</subfield><subfield code="2">sdnb</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Schick, Roman</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)1240726589</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Understanding corporate payouts and asymmetric cost behavior</subfield><subfield code="c">vorgelegt von M.Sc. Roman Schick</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Köln</subfield><subfield code="c">[2021]</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XIV, 120 Seiten</subfield><subfield code="b">Diagramme</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Literaturverzeichnis: Seite 112-120</subfield></datafield><datafield tag="502" ind1=" " ind2=" "><subfield code="b">Dissertation</subfield><subfield code="c">Universität zu Köln</subfield><subfield code="d">2021</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="0">(DE-588)4113937-9</subfield><subfield code="a">Hochschulschrift</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="710" ind1="2" ind2=" "><subfield code="a">Universität zu Köln</subfield><subfield code="0">(DE-588)2024231-1</subfield><subfield code="4">dgg</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">B:DE-101</subfield><subfield code="q">application/pdf</subfield><subfield code="u">https://d-nb.info/1248246101/04</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">DNB Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033248542&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033248542</subfield></datafield></record></collection> |
| genre | (DE-588)4113937-9 Hochschulschrift gnd-content |
| genre_facet | Hochschulschrift |
| id | DE-604.BV047866000 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:19:09Z |
| indexdate | 2024-07-10T09:23:31Z |
| institution | BVB |
| institution_GND | (DE-588)2024231-1 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033248542 |
| oclc_num | 1268572494 |
| open_access_boolean | |
| owner | DE-355 DE-BY-UBR |
| owner_facet | DE-355 DE-BY-UBR |
| physical | XIV, 120 Seiten Diagramme |
| publishDate | 2021 |
| publishDateSearch | 2021 |
| publishDateSort | 2021 |
| record_format | marc |
| spelling | Schick, Roman Verfasser (DE-588)1240726589 aut Understanding corporate payouts and asymmetric cost behavior vorgelegt von M.Sc. Roman Schick Köln [2021] XIV, 120 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier Literaturverzeichnis: Seite 112-120 Dissertation Universität zu Köln 2021 (DE-588)4113937-9 Hochschulschrift gnd-content Universität zu Köln (DE-588)2024231-1 dgg B:DE-101 application/pdf https://d-nb.info/1248246101/04 Inhaltsverzeichnis DNB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033248542&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Schick, Roman Understanding corporate payouts and asymmetric cost behavior |
| subject_GND | (DE-588)4113937-9 |
| title | Understanding corporate payouts and asymmetric cost behavior |
| title_auth | Understanding corporate payouts and asymmetric cost behavior |
| title_exact_search | Understanding corporate payouts and asymmetric cost behavior |
| title_exact_search_txtP | Understanding corporate payouts and asymmetric cost behavior |
| title_full | Understanding corporate payouts and asymmetric cost behavior vorgelegt von M.Sc. Roman Schick |
| title_fullStr | Understanding corporate payouts and asymmetric cost behavior vorgelegt von M.Sc. Roman Schick |
| title_full_unstemmed | Understanding corporate payouts and asymmetric cost behavior vorgelegt von M.Sc. Roman Schick |
| title_short | Understanding corporate payouts and asymmetric cost behavior |
| title_sort | understanding corporate payouts and asymmetric cost behavior |
| topic_facet | Hochschulschrift |
| url | https://d-nb.info/1248246101/04 http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=033248542&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT schickroman understandingcorporatepayoutsandasymmetriccostbehavior AT universitatzukoln understandingcorporatepayoutsandasymmetriccostbehavior |
There is no print copy available.
Indexes