| Author: | Laux, P. |
| Title: | The relative importance of competition and contagion in intra-industry information transfers: an investigation of dividend announcements |
| Journal: | Financial Management
1998 : AUTUMN, VOL. 27:3, p. 5-16 |
| Index terms: | FINANCE MANAGEMENT COMPETITION |
| Language: | eng |
| Abstract: | Large revisions in dividends are accompanied by stock=price reactions for the announcing firm's rivals. The reaction depends on the relative strength of competitive and contagion effects. For some rivals, competitive effects apparently offset contagion effects. The authors find supporting results under a variety of tests over a long period. |
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