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| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | The effects of Covid-19 on payout and governance |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 69 |
| Date | 2021 |
| Abstract Text | This thesis aims to shed light on whether and how UK, German, Austrian and Swiss stock listed firms usedthe unprecedentedsituation caused byCovid-19as an opportunity to postpone dividends and thereby secure bridge financingfrom equity holders.Across the four analysed jurisdictions, 26.1% of index-listedcompanies postponed their annual general meetings (AGMs). On average, the AGMswerepostponed by approximately two months. Postponers showeda lower dividend yield than non-postponers. The results from the probit analysis showeda negative relationshipbetween cash reserves and AGM postponementsand that more liquid firms were less likely to postpone their AGMs. |
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