{"title":"欧洲银行的股息和风险","authors":"E. Onali","doi":"10.2139/ssrn.1460145","DOIUrl":null,"url":null,"abstract":"Ceteris paribus, a large dividend payout ratio decreases the capital ratio of a bank. Under deposit insurance regulation, banks with a low capital ratio are encouraged to take on risk. I investigate the relation between dividends and risk in banking, using a sample of 335 banks for the period 2000-2007. Contrary to the extant literature about nonfinancial firms, I find evidence that dividends are positively related to default risk, and negatively related to retained earnings. Similar to nonfinancial firms, dividends are related to insider/outsider agency issues, profitability, and size.","PeriodicalId":315176,"journal":{"name":"Banking & Insurance","volume":"77 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2009-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"12","resultStr":"{\"title\":\"Dividends and Risk in European Banks\",\"authors\":\"E. Onali\",\"doi\":\"10.2139/ssrn.1460145\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Ceteris paribus, a large dividend payout ratio decreases the capital ratio of a bank. Under deposit insurance regulation, banks with a low capital ratio are encouraged to take on risk. I investigate the relation between dividends and risk in banking, using a sample of 335 banks for the period 2000-2007. Contrary to the extant literature about nonfinancial firms, I find evidence that dividends are positively related to default risk, and negatively related to retained earnings. Similar to nonfinancial firms, dividends are related to insider/outsider agency issues, profitability, and size.\",\"PeriodicalId\":315176,\"journal\":{\"name\":\"Banking & Insurance\",\"volume\":\"77 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2009-08-23\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"12\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Banking & Insurance\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.1460145\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Banking & Insurance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.1460145","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Ceteris paribus, a large dividend payout ratio decreases the capital ratio of a bank. Under deposit insurance regulation, banks with a low capital ratio are encouraged to take on risk. I investigate the relation between dividends and risk in banking, using a sample of 335 banks for the period 2000-2007. Contrary to the extant literature about nonfinancial firms, I find evidence that dividends are positively related to default risk, and negatively related to retained earnings. Similar to nonfinancial firms, dividends are related to insider/outsider agency issues, profitability, and size.