search query: @author Kao, C. / total: 7
reference: 5 / 7
| Author: | Kao, C. Wu, C. |
| Title: | Rational expectations, information signalling and dividend adjustment to permanent earnings. |
| Journal: | Review of Economics and Statistics
1994 : AUG, VOL. 76:3, p. 490-502 |
| Index terms: | RATIONAL EXPECTATIONS INFORMATION DIVIDENDS |
| Language: | eng |
| Abstract: | The authors propose a rational signalling model to investigate the information content of dividends. The model provides a direct test on the relation between unexpected dividend and earnings changes. In identifying the component of unexpected dividend changes , the authors suggest an expectations framework that accounts for the process of dividend adjustment to firms' permanent earnings. A nonlinear regression method is used to estimate the model and test the rationality and signalling hypotheses. |
SCIMA