The paper examines whether bank managers have significant idiosyncratic effects on dividend policy that are not related to bank characteristics. Using the quarterly data of US banks from 2001:Q1-2021:Q2, we document high ably-managed banks tend to pay higher dividends, and this effect is more pronounced amid high policy uncertainty. Our findings remain robust under a battery of robustness tests.
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Penn State Univ, Sch Grad Profess Studies, Malvern, PA 19355 USA
NIDA, Bangkok, ThailandPenn State Univ, Sch Grad Profess Studies, Malvern, PA 19355 USA
Jiraporn, Pornsit
Leelalai, Veeranuch
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NIDA, Bangkok, ThailandPenn State Univ, Sch Grad Profess Studies, Malvern, PA 19355 USA
Leelalai, Veeranuch
Tong, Shenghui
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CUFE, Beijing, Peoples R ChinaPenn State Univ, Sch Grad Profess Studies, Malvern, PA 19355 USA
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Banking Univ Ho Chi Minh City, Saigon Int Sch Business, Ho Chi Minh City, VietnamBanking Univ Ho Chi Minh City, Saigon Int Sch Business, Ho Chi Minh City, Vietnam
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Univ Utara Malaysia, Sch Econ Finance & Banking, Sintok 06010, Kedah, MalaysiaUniv Utara Malaysia, Sch Econ Finance & Banking, Sintok 06010, Kedah, Malaysia
Johari, Edie Erman Che
Chronopoulos, Dimitris K.
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Sch Management, Ctr Responsible Banking & Finance, St Andrews KY16 9RJ, KY, ScotlandUniv Utara Malaysia, Sch Econ Finance & Banking, Sintok 06010, Kedah, Malaysia
Chronopoulos, Dimitris K.
Scholtens, Bert
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Univ Groningen, Fac Econ & Business, Dept Econ Econometr & Finance, POB 800, NL-9700 AV Groningen, NetherlandsUniv Utara Malaysia, Sch Econ Finance & Banking, Sintok 06010, Kedah, Malaysia
Scholtens, Bert
Sobiech, Anna L.
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Sch Management, Ctr Responsible Banking & Finance, St Andrews KY16 9RJ, KY, ScotlandUniv Utara Malaysia, Sch Econ Finance & Banking, Sintok 06010, Kedah, Malaysia
Sobiech, Anna L.
Wilson, John O. S.
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Sch Management, Ctr Responsible Banking & Finance, St Andrews KY16 9RJ, KY, ScotlandUniv Utara Malaysia, Sch Econ Finance & Banking, Sintok 06010, Kedah, Malaysia