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Burden the Hand: Regulatory Intensity and Payout Policy

Yahia Abdelbar et al.

European Financial Management2026https://doi.org/10.1111/eufm.70060article
AJG 3ABDC A
Weight
0.50

Abstract

We investigate the impact of regulatory intensity on firms' payout policies. While regulations may increase budgetary pressure, leading to decreased payout, we document that regulatory burden increases total payout, especially in the form of dividends. The documented dividend payment increase is significant for firms with higher institutional ownership or those needing more managerial discipline, but not driven by low investment opportunities. Firms increasing dividend followed by regulations are associated with enhanced firm value. The results indicate that shareholders pressure firms to increase dividend payments to discipline managers who might take advantage of the heightened uncertainty that the regulatory burden induces.

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https://doi.org/https://doi.org/10.1111/eufm.70060

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@article{yahia2026,
  title        = {{Burden the Hand: Regulatory Intensity and Payout Policy}},
  author       = {Yahia Abdelbar et al.},
  journal      = {European Financial Management},
  year         = {2026},
  doi          = {https://doi.org/https://doi.org/10.1111/eufm.70060},
}

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Burden the Hand: Regulatory Intensity and Payout Policy

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

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