Pension Funding Constraints and Corporate Expenditures

This paper examines the impact of a company's pension contributions (PCs) on its dividend and investment policies. The effects of shocks to cash flows on these corporate expenditures are identified by changes to pension funding regulations. Using a sample of DB pension schemes in FTSE350 UK‐lis...

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Veröffentlicht in:	Oxford bulletin of economics and statistics 2013-04, Vol.75 (2), p.235-258
Hauptverfasser:	Liu, Weixi, Tonks, Ian
Format:	Artikel
Sprache:	eng
Schlagworte:	Budget constraint C23 Corporate finance Correlation Dividends Employer contributions Expenditures Funding G11 G18 G23 G32 G35 Investment Investment policy Investments Pension funds Pension plan funding Pension plans Stock returns Studies United Kingdom
Online-Zugang:	Volltext
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