Liu, Chinpiao; Chen, An-Sing - In: International Review of Financial Analysis 37 (2015) C, pp. 194-207
changing dividends. We also examine the information content of dividend changes with respect to future earnings changes in the … and for catering to dividend clienteles. As for the information content of dividend changes, we find that dividend changes …) future earnings, managers may someday give up using dividend changes to signal the earnings prospects of their firms because …