...Pekka Honkanen; Yapei Zhang; Tong Zhou Exchange-traded funds (ETFs) collect approximately 7% of all U.S. corporate dividends, which they are required to redistribute to investors. How do the funds manage these dividend flows, and does such management have spillover effects on other financial...

...Alice Bonaimé; Kathleen Kahle; David Moore; Alok Nemani Employee compensation may impact payout policy by (i) incentivizing managers with non-dividend-protected options to favor repurchases over dividends and (ii) diluting earnings, which firms can neutralize through share repurchases. Both...