Key points are not available for this paper at this time.
John G. McDonald, Bertrand Jacquillat, Maurice Nussenbaum, Dividend, Investment and Financing Decisions: Empirical Evidence on French Firms, The Journal of Financial and Quantitative Analysis, Vol. 10, No. 5 (Dec., 1975), pp. 741-755
McDonald et al. (Mon,) studied this question.