Tekijä: | Manakyan, H. Caroll, C. |
Otsikko: | An empirical examination of the existence of a signaling value function for dividends |
Lehti: | Journal of Financial Research
1990 : FALL, VOL. 13:3, p.201-219 |
Asiasana: | MODELS FINANCIAL MODELS |
Kieli: | eng |
Tiivistelmä: | The present paper examines the reliability of dividend signals. To determine if dividend signals are followed by changes in earnings in a direction consistent with the signal, the dividend-earning relationship is examined by both Granger tests of causality and nonparametric tests. Results are consistent with te hypothesis that dividend signals are followed by anticipated changes in earnings in the subsequent two quarters. |
SCIMA