Corporate pension funding levels, firm performance and dividend payout ratios
Corporate pension funding levels, firm performance and dividend payout ratios
I employ a large sample of defined-benefit (DB) pension plans, sponsored by publicly traded US corporations over the period 1998-2016, and explore the impact of the level of pension funding on firm performance and dividend payout policy. Using panel regression analysis, I find evidence of significant positive association between the level of pension funding and both firm performance and dividend payout. The results have a number of important implications that should be cause of concern for policy makers and a wide range of stakeholders including investors, pensioners, employees and managers.
Papakyriakou, Panayiotis
71bed450-1b8e-4a9c-a393-60017c63b2d4
Papakyriakou, Panayiotis
71bed450-1b8e-4a9c-a393-60017c63b2d4
Papakyriakou, Panayiotis
(2023)
Corporate pension funding levels, firm performance and dividend payout ratios.
Journal of Retirement.
(In Press)
Abstract
I employ a large sample of defined-benefit (DB) pension plans, sponsored by publicly traded US corporations over the period 1998-2016, and explore the impact of the level of pension funding on firm performance and dividend payout policy. Using panel regression analysis, I find evidence of significant positive association between the level of pension funding and both firm performance and dividend payout. The results have a number of important implications that should be cause of concern for policy makers and a wide range of stakeholders including investors, pensioners, employees and managers.
Text
Papakyriakou JoR
- Accepted Manuscript
More information
Accepted/In Press date: 13 April 2023
Identifiers
Local EPrints ID: 476315
URI: http://eprints.soton.ac.uk/id/eprint/476315
ISSN: 2326-6902
PURE UUID: 0e19357e-2723-4c2d-a952-0b5ca23d986c
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Date deposited: 19 Apr 2023 16:37
Last modified: 30 Apr 2024 04:01
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