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/*Second essay*/
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Jagannathan, M., C. P. Stephens, and M. S. Weisbach, 2000, “Financial flexibility and the choice between dividends and stock repurchases,” Journal of Financial Economics 57, 355-384.
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Kahle, K., 2002, “When a buyback isn’t a buyback: Open-market repurchases and employee options,” Journal of Financial Economics 63, 235–261.
La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R. W. Vishny, 2000, “Agency problems and dividend polices around the world,” Journal of Finance 55, 1-33.
Lambert, R. A., W. N. Lanen, and D. F. Larcker, 1989, “Executive stock option plans and corporate dividend policy,” Journal of Financial and Quantitative Analysis 24, 409-425.
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Opler, T. and S. Titman, 1993, “The determinants of leveraged buyout activity: free cash flow vs. financial distress costs,” Journal of Finance 48, 1985-1999.
Pan, C., 2007, “Why are firms with entrenched managers more likely to pay dividends?” Working paper, Ohio State University.
Rozeff, M. S., 1982, “Growth, beta and agency costs as determinants of dividend payout ratios,” Journal of Financial Research 3, 249-259.
Schooley, D. and L. Barney, 1994, “Using dividend policy and managerial ownership to reduce agency costs,” Journal of Financial Research 17, 363-373.
Smith, C. W. and R. L. Watts, 1992, “The investment opportunity set and corporate financing, dividend, and compensation policies,” Journal of Financial Economics 32, 263-292.
Stephens, C. P. and M. S. Weisbach, 1998, “Actual share reacquisitions in open-market repurchase programs,” Journal of Finance 53, 313-334.
Studenmund, A. H., 2006, “Using Econometrics: A Practical Guide,” Pearson-Addison- Wesley, 5th Edition.
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