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| Tekijä: | Kaestner, R. Liu, F.-Y. |
| Otsikko: | New evidence on the information content of dividend announcements |
| Lehti: | Quarterly Review of Economics and Finance
1998 : VOL. 38:2, p. 251-274 |
| Asiasana: | INFORMATION DIVIDEND ANNOUNCEMENTS ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | This study presents new evidence on the relationship between dividend announcements and stock price responses, and provides a more comprehensive empirical analysis than that previously found in the literature. The authors simultaneously test several competing theories regarding the information content of dividends using two types of announcements: dividend initiations and specially designated dividends. The results of the analysis provide strong support for the single signal cash-flow hypothesis. |
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