The study looked at what factors affect how companies decide to pay dividends between 2017 and 2019 in the consumption industry. They used data from financial statements and found that the investment opportunities available, previous dividends paid, and how much of the company's shares are owned by managers all influence dividend decisions. Specifically, having more investment opportunities and higher managerial ownership tend to lead to higher dividend payouts, while previous dividends don't have much of an impact.