Iyer, S. R., Feng, H., & Rao, R. P. (2017). Payout Flexibility and Capital Expenditure. Review of Quantitative Finance and Accounting, 49, 633-659.
https://doi.org/10.1007/s11156-016-0603-z

has been cited by the following article:

• TITLE: Financing Investment under Uncertainty: The Case of Payout Reductions in Globally Listed Maritime Firms

  AUTHORS: Ioannis Chasiotis, Maria Giaka, Dimitrios Konstantios, Vasilios-Christos Naoum

  KEYWORDS: Dividend Payouts, Investment, Uncertainty, Maritime Industry, Recession, Shipping Firms

  JOURNAL NAME: Theoretical Economics Letters, Vol.11 No.6, December 9, 2021

  ABSTRACT: This study explores whether payout reductions represent an alternative source of investment funds. We focus on the distinct, financially constrained maritime sector and draw a sample of 1863 firm-year observations from 143 globally-listed maritime firms during 1987-2020. Investigating the payout reduction-investment nexus, we document a positive relationship that surfaces in recession periods. Our findings indicate that payout reductions represent a source of funds for maritime firms in times of negative external financing shocks.