@article{publication-4878, author={Bodnaruk, Andriy and {\"O}stberg, Per}, doi={10.1017/S0022109013000252}, issn={0022-1090}, journal={Journal of Financial and Quantitative Analysis}, number=3, pages={729-760}, publisher={Cambridge University Press}, title={The shareholder base and payout policy}, volume=48, year=2013, }