Briefly discuss whether the results reported in the study of John Knyazeva and Knyazeva (2011) can be generalized to firms located in smaller countries like Belgium, Denmark, Kuwait, Lebanon, or Tunisia.

In an empirical paper by John, Knyazeva and Knyazeva (2011), the authors show that, in the U.S., a firms geographic location influences its payout policy.

Briefly discuss whether the results reported in the study of John Knyazeva and Knyazeva (2011) can be generalized to firms located in smaller countries like Belgium, Denmark, Kuwait, Lebanon, or Tunisia.

attached the required study to answer from

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