Journal of Financial Economics Vol. 13 No. 2 1984
Explaining investor preference for cash dividends
Abstract
The well-known tendency of investors to favor cash dividends emerges quite naturally in two new theories of choice behavior [the theory of self-control due to Thaler and Shefrin (1981), and the version of prospect theory set out by Kahneman and Tversky (1979)]. Although our treatment is novel when viewed from the perspective of standard financial theory, it provides explanations for a phenomenon that has long been described as perplexing.
- DOI
- 10.1016/0304-405x(84)90025-4
- Volume
- 13
- Issue
- 2
- Pages
- 253-282
- Language
- en
- Sources
- crossref bibtex:phds-export.bib openalex