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Apergis, N., Chasiotis, I., Georgantopoulos, A. G., & Konstantios, K. (2021). The Integration of Sharere Purchases into Investment Decision Making: Evidence from Japan. International Review of Financial Analysis, 78, Article No. 101950.
https://doi.org/10.1016/j.irfa.2021.101950

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.