Open Access. Powered by Scholars. Published by Universities.®
Finance and Financial Management Commons™
Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Finance and Financial Management
Three Essays On Banking, Capital Market Frictions And Corporate Payout Policy, Hosein Nooriaan
Three Essays On Banking, Capital Market Frictions And Corporate Payout Policy, Hosein Nooriaan
Theses and Dissertations (Comprehensive)
The prevalence of financial market frictions is far from uncommon. Between 1970 and 2011, Laeven & Valencia (2012) identify 147 banking crises, along with 218 episodes of currency crises, and 66 episodes of sovereign debt default. Thus, understanding a firm’s behavior in the presence of financial crisis is an important issue for future financial research. My dissertation explores corporate payout and liquidity policy either during a financial market crisis, or in anticipation of a financial market crisis.
In the first essay, “Capital Market Friction and Corporate Payout Policy”, I focus on the role of supply of capital on corporate payout …