# kaal:claim:2922176-016

**Claim.** Ten of the thirteen S&P 500 companies with above-average revenue growth over the 2012 to 2016 period had never paid a dividend and had never engaged in share buybacks.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- thirteen S&P 500 companies with above-average revenue growth, 2012 to 2016

**Source quote.**

> Figure 2 shows that ten out of the thirteen S&P 500 with an above-average revenue growth have never paid any dividends to their shareholders and were never engaged in share buyback activities.

**From.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, *The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies* (2017), IV. Limits of Corporate Governance Reform, page 20

**Cite as.** Mark Fenwick, Wulf A. Kaal, Erik P. M. Vermeulen, The ‘Unmediated’ and ‘Tech-Driven’ Corporate Governance of Today's Winning Companies (2017). SSRN: https://ssrn.com/abstract=2922176

**Verify.** sha256 of source PDF `fa4e986917d437cb1504281e7b986be2698e9507d8feaf426c9d7d1754ca882c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Fenwick%20et%20al.%20-%202017%20-%20The%20%E2%80%98Unmediated%E2%80%99%20and%20%E2%80%98Tech-Driven%E2%80%99%20Corporate%20Governance%20of%20Today%27s%20Winning%20Companies.pdf

**Topics.** empirical-evidence

**Keywords.** buybacks, dividends, revenue-growth, empirical-evidence, sp500

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