# Professor Jeffrey Wurgler's joint research on dividends is featured

1 Faculty News May 18, 2017 ![ValueWalk logo](/sites/default/files/styles/246w/public/assets/images/valuewalk.jpg?itok=4HYE4IGy)>

Excerpt from [ValueWalk](http://www.valuewalk.com/2017/05/direct-test-dividend-catering-hypothesis/?all=1) -- "A paper in 2004 by Malcolm Baker and [Jeffrey Wurgler](http://www.stern.nyu.edu/faculty/bio/jeffrey-wurgler) examines this question. They ask the following — do companies 'cater' to investor demands for dividends? To test this idea, they examine 4 stock price-based measures of investor demand for dividend payers."

[Read more](http://www.valuewalk.com/2017/05/direct-test-dividend-catering-hypothesis/?all=1)