Anderson, Hamish D.; Rose, Lawrence C.; Cahan, Steven F. - In: Journal of Business Finance & Accounting 31 (2004-11) 9-10, pp. 1419-1448
<heading id="h1" level="3" format="inline" implicit="no">Abstract: </heading>Past research has revealed significant abnormal ex-date returns for stock dividends even though the ex-date is known in advance and the distribution contains no new information. Various researchers have suggested that the higher transaction cost of selling odd-lot share parcels...