Penn State Great Valley Management Research Showcase | Highlighting Research Projects of Penn State Faculty

CEO power and dividend policy

Wednesday, October 9
Noon to 1 p.m.
Main Building, Room 230

Presenter: Pornsit Jiraporn, Ph.D., Associate Professor, Finance

This presentation will explore the effect of CEO power on dividend policy. Agency theory suggests that the CEO inherently dislikes dividends because they deprive the CEO of the free cash flow that he could otherwise exploit. Shareholders, on the other hand, may prefer to receive cash dividends. Evidence indicates that this inherent conflict is magnified when the CEO wields more influence in the firm.

Pornsit Jiraporn, Ph.D., associate professor, finance, specializes in corporate finance and conducts research in several areas such as corporate governance, earnings management, capital structure, dividend policy, corporate diversification, and mergers and acquisitions. His research has appeared or will appear in a large number of journals. In addition, Jiraporn is an invited instructor at Thammasat University, Mahidol University, and The National Institute of Development Administration (NIDA) in Bangkok, Thailand, and has made numerous research presentations in the United States, Asia, and Europe. Pornsit was an assistant professor at Texas A&M International University from 2002-2006.

Free and open to faculty, staff, students, and the community.  Seating is limited; register at or call 610-648-3229.