| Budget Amount *help |
¥2,899,000 (Direct Cost: ¥2,230,000、Indirect Cost: ¥669,000)
Fiscal Year 2011: ¥1,287,000 (Direct Cost: ¥990,000、Indirect Cost: ¥297,000)
Fiscal Year 2010: ¥1,612,000 (Direct Cost: ¥1,240,000、Indirect Cost: ¥372,000)
|
|---|
| Research Abstract |
This research investigates the dynamic interaction between product market competition and corporate payout policy. The results in this research present that firms in more concentrated industries have significantly lower payout ratios than firms in less concentrated industries. Moreover, we find that this interaction is much weaker among dominant firms. Therefore, these results indicate that predatory behavior from competitors is an important determinant of corporate payout policy.
|
