Akbar, Muhammad; Baig, Humayun Habib - In: Lahore Journal of Economics 15 (2010) 1, pp. 103-125
announcements. It analyzes cash, stock, and simultaneous cash and stock dividend announcements of 79 companies listed on the Karachi … dividend announcements are mostly positive and statistically significant. …This study tests the semi-strong form of market efficiency by investigating the reaction of stock prices to dividend …