Payout Policy and Owners' Interests – Evidence from German Savings Banks

Kleff, Volker ; Weber, Martin

dp0559.pdf - Published

Download (502kB)

URN: urn:nbn:de:bsz:180-madoc-11327
Document Type: Working paper
Year of publication: 2005
The title of a journal, publication series: None
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Classification: JEL: G21 ,
Subject headings (SWD): Deutschland , Aktienmarkt , Sparkasse
Abstract: The savings banks' decision to distribute profits among their public owners is strongly regulated by law in order to guarantee their adequate funding via retained profits. However, the legal scope is reluctantly exhausted. In this study we examine the determinants of the savings banks' payout decision in more detail. We find that besides internal determinants also external factors regarding the savings bank's public owner have strong explanatory power. The better the financial situation of the public owner, the less likely is the savings bank to distribute profits and to increase payouts, respectively.
Additional information:

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.

Metadata export


+ Search Authors in

+ Download Statistics

Downloads per month over past year

View more statistics

You have found an error? Please let us know about your desired correction here: E-Mail

Actions (login required)

Show item Show item