In Section 17.2, we report results of a survey about corporate dividend policy. How might the tendencies

Question:

In Section 17.2, we report results of a survey about corporate policy. How might the tendencies documented in that survey result in more mature firms exhibiting systematically higher payout ratios?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...