... internal growth initiatives, necessitating a careful equilibrium between dividend policy and retained earnings. Companies often allocate their retained earnings to various uses, including research and development (R&D) initiatives and capital expenditures, reflecting their commitment to sustaining...

... group near or at the bottom of the ownership structure. We next find significant variation in dividend policy within groups, with notably higher dividends for firms close to the ultimate owner. Furthermore, we find that higher investments by firms close to the owner lead to lower dividends by firms...

...Mostafa Harakeh; Ghida Matar; Nagham Sayour Purpose The literature of financial economics documents a causal relationship between the level of information asymmetry in the firm and its dividend policy. Nevertheless, this relationship suffers endogeneity problems arising from reverse causality...