• Dividends and taxes: The moderating role of agency conflicts 

      Berzins, Janis; Bøhren, Øyvind; Stacescu, Bogdan (Journal article; Peer reviewed, 2019)
      We find that potential conflicts between majority and minority shareholders strongly influence how dividends respond to taxes. When the controlling shareholder has a smaller stake, the incentives to extract private benefits ...
    • Shareholder conflicts and dividends 

      Berzins, Janis; Bøhren, Øyvind; Stacescu, Bogdan (Journal article; Peer reviewed, 2018)
      We examine how dividend policy is used to mitigate potential conflicts of interest between majority and minority shareholders in private Norwegian firms. The average payout is 50% higher if the majority shareholder’s equity ...