Two Essays on Payout Policy: Strategic Interaction Effects and Union Effects

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dc.contributor.advisorRice, Edwarden_US
dc.contributor.authorChino, Atsushien_US
dc.date.accessioned2012-09-13T17:26:23Z
dc.date.available2012-09-13T17:26:23Z
dc.date.issued2012-09-13
dc.date.submitted2012en_US
dc.descriptionThesis (Ph.D.)--University of Washington, 2012en_US
dc.description.abstractPrevious literature on payout policy has focused on the effects of firm-level characteristics on firms' dividend payouts or stock repurchases. My dissertation investigates whether industry characteristics affect these payout decisions. The first chapter focuses on effects of strategic interaction between firms in product markets on a firm's dividend policy, and the second chapter examines effects of input market rigidity, particularly the strength of labor unions, on corporate payout policy. My empirical results show that these industry characteristics significantly influence firms' payout policy, and their economic impacts are non-trivial. Overall, my dissertation suggests that research in corporate payout policy should incorporate the effects of industry characteristics on firms' optimal payout decisions.en_US
dc.embargo.termsNo embargoen_US
dc.format.mimetypeapplication/pdfen_US
dc.identifier.otherChino_washington_0250E_10428.pdfen_US
dc.identifier.urihttp://hdl.handle.net/1773/20620
dc.language.isoen_USen_US
dc.rightsCopyright is held by the individual authors.en_US
dc.subjectCorporate Finance; Industrial Organization; Payout Policyen_US
dc.subject.otherFinanceen_US
dc.subject.otherEconomics, Commerce-Businessen_US
dc.subject.otherBusiness administrationen_US
dc.titleTwo Essays on Payout Policy: Strategic Interaction Effects and Union Effectsen_US
dc.typeThesisen_US

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