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| Author: | Akhigbe, A. Madura, J. |
| Title: | Dividend policy and corporate performance |
| Journal: | Journal of Business Finance and Accounting
1996 : DEC, VOL. 23:9/10, p. 1267-1288 |
| Index terms: | ACCOUNTING DIVIDENDS ECONOMICS |
| Language: | eng |
| Abstract: | Substantial research has been conducted to determine the signal that results from dividend initiations and omissions. This study extends from previous research by measuring the long-term valuation effects following dividend initiations and omissions. The authors find that firms initiating dividends experience favorable long-term share price performance. The long-term valuation effects resulting from dividend initiations are more favourable for firms that are smaller, that overinvest, and that had relatively poor performance prior to initiations. |
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