Dividend policy: the mediation between managerial control and shareholding

Vol. 7 No. 4 (1987)

Oct-Dec / 1987
Published October 1, 1987
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Filho, Arthur Barrionuevo. 1987. “Dividend Policy: The Mediation Between Managerial Control and Shareholding”. Brazilian Journal of Political Economy 7 (4):564-76. https://doi.org/10.1590/0101-31571987-4103.

Dividend policy: the mediation between managerial control and shareholding

Arthur Barrionuevo Filho
Departamento de Economia da Escola de Administração de Empresas de São Paulo da Fundação Getúlio Vargas – EAESP/FGV, São Paulo/SP, Brasil.
Brazilian Journal of Political Economy, Vol. 7 No. 4 (1987), Oct-Dec / 1987, Pages 564-576

Abstract

This paper discusses the dividend policy and its effects on the relationship and
dependency between managers and shareowners. By the way, starting from the classic economist’s
view about the split of surplus between profits and interests, and from Hilferding’s
view of dividends as a specific form of earning yield from property-capital, analyses some
studies of finance economists about the importance of dividends policy. It concludes with a
remark about the advantages yielded by the shareowners who own the majority of capital.

JEL Classification: G35.


Keywords: Dividends